{"id":11172,"date":"2021-09-28T14:08:33","date_gmt":"2021-09-28T13:08:33","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=11172"},"modified":"2021-09-28T14:08:38","modified_gmt":"2021-09-28T13:08:38","slug":"chainalysis-report-shows-europe-is-the-largest-crypto-economy-with-over-1t-in-transactions","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/chainalysis-report-shows-europe-is-the-largest-crypto-economy-with-over-1t-in-transactions\/","title":{"rendered":"Chainalysis report shows Europe is the largest crypto economy with over $1T in transactions"},"content":{"rendered":"\n
According to a new analysis from blockchain analytics firm Chainalysis<\/a>, central, northern, and western Europe, has emerged as the world's most active cryptocurrency block with DeFi being a major catalyst for the growth. <\/h5>\n\n\n\n
\"\"<\/figure><\/div>\n\n\n\n

Between July 2020 and June 2021, the CNWE region accounted for 25% of global crypto activity\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, according to the research, which was issued Tuesday.<\/p>\n\n\n\n

Across all crypto sub-categories, especially decentralized finance, or DeFi, transaction volume increased dramatically in the region.<\/p>\n\n\n\n

Crypto transactions, according to Chainalysis, include anything involving trade, investments, and commercial activities.<\/p>\n\n\n\n

Institutional investment has also become a hotbed in Europe, with transaction values in this category increasing to $46.3 billion in June 2021, up from $1.4 billion in July 2020.<\/p>\n\n\n\n

Surprisingly, the United Kingdom has the region's single largest crypto economy<\/a>, with $170 billion in transactions. DeFi methods were used to send nearly half of the amount of 49%.<\/p>\n\n\n\n

\u201cGrowing institutional investment, based on large-sized transfers driving most of its transaction volume, is driving the U.K.'s growth,\u201d Chainalysis senior content marketing manager Henry Updegrave told Cointelegraph.<\/p>\n\n\n\n

Crypto's enormous gain was fueled by a secular bull market for Bitcoin (BTC), the growth of competing smart contract platforms, and the arrival of decentralized finance during the study period.<\/p>\n\n\n\n

It's no surprise that CNWE's crypto market activity peaked in May 2021, right in the middle of the bull market, one month after Bitcoin topped $64,000.<\/p>\n\n\n\n

The data from Chainalysis adds to a growing body of evidence that huge institutional investors<\/a> have become a driving force in the crypto space.<\/p>\n\n\n\n

Grayscale, CoinShares, 21Shares, and other Bitcoin and Ether (ETH) investment products have attracted billions of dollars from wealth managers, family offices, and other institutional investors.<\/p>\n\n\n\n

Beyond Europe's advanced economies, Chainalysis research has shown that crypto is gaining traction in emerging regions. <\/p>\n\n\n\n

Based on on-chain value received, retail transactions, and peer-to-peer exchange trade volume, the Chainalylsis 2021 Global Crypto Adoption Index named Vietnam, India, and Pakistan as the leading countries for adoption.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to a new analysis from blockchain analytics firm Chainalysis, central, northern, and western Europe, has emerged as the world’s most active cryptocurrency block with DeFi being a major catalyst for the growth. Between July 2020 and June 2021, the CNWE region accounted for 25% of global crypto activity , according to the research, which […]<\/p>\n","protected":false},"author":12,"featured_media":11179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[4092,4686,4685,4687],"class_list":["post-11172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-chainalysis","tag-crypto-economy","tag-europe","tag-transactions"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/Chainalysis-report-shows-Europe-is-the-largest-crypto-economy-with-over-1T-in-transactions.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=11172"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/11179"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=11172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=11172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=11172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}