UK emerges as world’s third-largest economy in terms of crypto transaction volume: Chainalysis

The United Kingdom is the world’s third-largest economy in terms of raw cryptocurrency transaction volume, behind the U.S. and India, according to on-chain intelligence firm Chainalysis.

See related article: Fake BlackRock ETF news prompts US$57 mln in Bitcoin long liquidations

Fast Facts

• The U.K. also emerged as the biggest crypto economy in the Central, Northern, and Western European (CNWE) region, having received an estimated US$252.1 billion worth of crypto payments this past year, according to Chainalysis’ 2023 Geography of Cryptocurrency report published Wednesday.

• Germany was CNWE’s second-largest crypto economy, with US$120 billion received in crypto transactions, followed by Spain with US$110 billion.

• CNWE is the world’s second-largest crypto economy after North America, accounting for 17.6% of global transaction volume between July 2022 and June 2023.

• Decentralized finance (DeFi) accounted for 54.8% of the crypto value received, making it the most popular crypto-related service in the region.

See related article: Binance users in Hong Kong hooked by US$450,000 phishing attacks

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://forkast.news/uk-emerges-worlds-third-largest-economy-crypto-transaction-volume-chainalysis/