…With Vietnam ranking first in cryptocurrency adoption for the second consecutive year.
Out of our top 20 ranked countries mentioned in the latest report by Chainalysis, ten are lower middle income: Vietnam, Philippines, Ukraine, India, Pakistan, Nigeria, Morocco, Nepal, Kenya, and Indonesia; eight are upper middle income: Brazil, Thailand, Russia, China, Turkey, Argentina, Colombia, and Ecuador; two are high income: United States and United Kingdom.
China re-entered the top ten of the index this year after placing 13th in 2021.
As for the DeFi market activity, the US based accounts for 37%, followed by 31% in Western Europe.
Under the DeFi umbrella, decentralized exchanges, or DEXes, account for the most value received and tend to be used primarily by professional and institutional investors.
Coingecko also released a report about the current state of the digital asset industry for the third quarter of 2022. Despite enduring a turbulent period in Q3, Bitcoin did well against other asset classes, excluding even the US Dollar Index.