The index provides insights into the data the blockchain platform provides by measuring cryptocurrency adoption and the methodology behind it around the globe
LONDON, August 18, 2021 – Chainalysis, the blockchain data platform, today released its 2021 Global Crypto Adoption Index, the second iteration of its efforts to measure grassroots cryptocurrency adoption around the world. The index is the first part of Chainalysis’s series of reports which will be followed by a DeFi index, crime report, and Western Europe crypto adoption report.
As cryptocurrency adoption continues to grow globally, everyone from banks to institutional investors to everyday consumers is taking notice and incorporating digital assets into their financial strategy. But patterns of cryptocurrency usage vary widely around the world.
The Global Crypto Adoption Index measures cryptocurrency adoption across 154 countries and highlights the countries with the greatest adoption by ordinary people and focuses on use cases related to transactions and individual saving, rather than trading and speculation. The index also ranks the top 20 countries and provides an objective measure of which countries have adopted cryptocurrency to the greatest extent after a year of exponential growth for cryptocurrency markets and increased attention for the industry.
The report includes key trends including:
Global cryptocurrency adoption is skyrocketing. Chainalysis’s data shows that residents of more and more countries around the world are taking the dive into cryptocurrency or seeing existing adoption increase.
Global adoption has grown by over 880% in the last year. At the end of Q2 2020, following a period of little growth, total global adoption stood at 2.5 based on our summed up country index scores. At the end of Q2 2021, that total score stands at 24, suggesting that global adoption has grown by over 2300% since Q3 2019, suggesting that the global adoption has grown significantly.
China and the U.S. dip in rankings. Last year, China ranked fourth on Chainalysis’s global adoption index while the U.S. ranked sixth. This year, the U.S. ranks eighth while China ranks thirteenth.
Following the Global Crypto Adoption Index, Chainalysis will rollout with a DeFi index, and a series of geo-specific crypto adoption reports in the coming weeks.