Coinspeaker
North America Dominates Global Crypto Market with $1.2T in Value
The latest report by blockchain data and software service provider Chainalysis has shown that the global crypto activity is driven by North America where the on-chain market value has reached about $1.2 trillion between July 2022 and June 2023. The region dominates crypto usage despite all the regulatory concerns and scrutiny taking place there.
According to Chainalysis, North America has led the world with 24.4% of global crypto transaction activity which is split relatively evenly between DeFi and centralized exchanges. In addition, North America is still ranked fourth in the 2023 Global Crypto Adoption Index. Notably, most of the crypto activity is driven by the United States, which ranks first overall worldwide.
As highlighted in Chainalysis’ blog post, the regulatory concerns and a chain of negative events like the collapse of the FTX exchange in November 2022 have led to a decline in crypto activity
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