UK leading the way in crypto adoption in Europe

  • With $170 billion, in bitcoin transactions, the UK has surpassed the likes of France, Germany to become the topmost crypto trading country
  • The stats have shown that the transaction volume of CNWE has considerably increased across almost all cryptocurrencies, and service types, with a focus on DeFi protocols
  • There were three metric researches that were performed, and that contained info about Eastern Asia, North America, Latin America, Middle East, and Europe

With 170 billion, in bitcoin transactions, the UK has surpassed Germany to become the topmost crypto trading country. This becomes a very important breakthrough for the UK, with the growing popularity of crypto such an achievement is worth being cherished. With the growing competition between the US and China, Europe is slowly coping up with its position in cryptocurrency, and getting into the game. CNWE (Central, Northern and Western Europe) happens to have the greatest crypto economy in the last year. 

According to the Chainalysis report, the transaction volume of CNWE has considerably increased across almost all crypto currencies, and service types, with a focus on DeFi protocols. In addition, the region has become the most important crypto trading partner for all other areas, with at least the other regions receiving 25 percent of the entire value, and that includes North America which has received 34 percent.  

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This was primarily due to an increase in institutional transactions, which significantly increased from 1.4 billion dollars to 46.3 billion dollars in just less than a year. 

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There were three metric researches that were performed, and that contained info about Eastern Asia, North America, Latin America, Middle East, and Europe. The main focus of this study was based upon the topological trends, as far as crypto adoption is concerned, along with its regulation, followed by its usage. The metrics were studied over P2P exchanges. 

Chainalysis further noted that their research suggested that there is a marked difference around the world, as far as the increase in adoption is concerned. The main adoption players were the institutional investors. 

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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