The blockchain data analytics company Chainalysis has presented the results of its 2024 Geography of Cryptocurrency Report, which contains the fifth edition of the Global Crypto Adoption Index. This latest index reveals a clear trend in cryptocurrency adoption among 151 countries, with India, Nigeria, and Indonesia leading the charge. The analysis is based on the data on chain activity connected to CeFi and DeFi platforms. The approach to this year’s index has been revised, including the removal of peer-to-peer exchange trade volume to DeFi activities. These changes are in line with the changing trend of global crypto transactions.The report also notes that the regions with relatively low economic development, including the Central & Southern Asia and Oceania (CSAO), show the highest rates of crypto adoption. In this year’s index, seven out of the top twenty countries are from the CSAO region, showing the growing role of cryptocurrency in these economies.
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