Vietnam tops the global crypto adoption ranking for the second year in a row

The first places in the ranking were taken by mostly developing lower-middle-income countries

15.09.2022 - 13:15

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2 min

What’s new? According to analytics company Chainalysis, Vietnam took first place in the global crypto adoption index. This country became the leader for the second year in a row. The authors of the ranking noted that developing countries with lower-middle-income took most of the positions in the top 20 countries in terms of adoption. The only country with a high level of income among the top five was the United States.

The full ranking on the Chainalysis blog

What other countries made the top? The second place in the ranking is occupied by the Philippines, and the third place is by Ukraine. Russia ranks 9th, while China, which has a ban on cryptocurrencies and mining, closes the top ten. The authors analyzed a large number of cryptocurrency transactions and related indicators while compiling the ranking. The report indicates that interest in this asset type has declined since the peak of global adoption of cryptocurrencies in Q2 2021, but it remains above pre-2019 levels.

According to the UN Conference on Trade and Development, Ukraine and Russia topped the ranking of countries with the highest percentage of citizens holding cryptocurrencies in 2021. In Ukraine, the share of the population using digital assets was 12,7%, while in Russia it was 11,9%. According to a July report by the Boston Consulting Group, an international consulting firm, the cryptocurrency industry will have 1 billion users by 2030.

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