Central, Northern, and Western Europe Expected to Emerge as the Second Largest Cryptocurrency Market in 2021

By Noah Rypton Oct 18, 202358Views

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The UK Leads in Crypto Adoption in Europe

A recent report from Chainalysis reveals that Central, Northern, and Western Europe accounted for 17.6% of global cryptocurrency transaction volume between July 2022 and June 2023. Only North America had a larger cryptocurrency economy. In terms of transaction volume, the United Kingdom (UK) ranked third globally, with approximately $252.1 billion received in the past year. This makes the UK a leader in crypto adoption within the region, coming behind the United States and India in first and second place, respectively.

According to the report, decentralized finance (DeFi) services were responsible for the majority of cryptocurrency value in the region, representing 54.8% of the total. This highlights the growing popularity and importance of DeFi in Europe’s crypto market.

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Noah Rypton

Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah's ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension. An unwavering beacon for both seasoned adventurers and neophytes in the crypto cosmos, Noah's insights forge a compass for informed decision-making amidst the tides of ever-evolving cryptocurrencies. With an artist's eye for precision, he crafts a distinctive narrative, enriching the vibrant tableau of the crypto landscape.