Ukraine entered the top 5 in terms of crypto asset adoption in 2023
Date: 2023-09-16 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
Ukraine took fifth place in the Chainalysis ranking in terms of the level of adoption of crypto assets in 2023. The country has surpassed Brazil, China, and Turkey.
Higher in the top are: India, Nigeria, Vietnam and the USA. At the same time, Ukraine occupies third position in terms of the quality of centralized services.
The worst situation is with the DeFi segment and trading volumes on P2P exchanges:
The top ten included the Philippines, Indonesia, Pakistan, Brazil and Thailand. It is noteworthy that in the latter, a new prime minister, a supporter of cryptocurrencies, came to power. He promised to give $300 to all residents,
China ranks 11th accordingly. Japan, Canada and Morocco have the lowest adoption rates. It should be noted that in 2023, Canada significantly tightened regulation of the crypto market.
Chainalysis noted that the region of Central, South Asia and Oceania remains the friendliest to the cryptosphere. At the same time, as experts have noted, the factors causing this are different in each case.
Assessing the situation as a whole, the level of industry acceptance in the world is declining. The indicator peaked in the second quarter of 2021, approached it at the end of the year, and then mostly fell, according to Chainalysis:
The leaders in the ranking remain lower middle income (LMI) countries according to the World Bank classification. These include Nigeria, India and Ukraine. There is only one high-income (HI) country in the top ten: the United States.
It is the LMI countries that are seeing the most significant recovery in adoption rates in 2023, according to Chainalysis:
Platform experts see this as a positive sign. A further increase in industry adoption among these countries could give rise to a similar trend at the global level.
