Chainalysis: Driven by institutions and DeFi, cryptocurrency adoption in Eastern European markets is on the rise

Odaily Planet Daily News: According to a report by Chainalysis, despite facing wars and regulatory issues, cryptocurrency adoption rates across Eastern Europe have been steadily increasing driven by institutional and DeFi activities. As the fourth largest cryptocurrency market in the world, Eastern Europe had an on chain value of $499.14 billion from July 2023 to June 2024, accounting for 11% of the total global cryptocurrency market. Chainalysis further points out that CEX is the region that receives the most cryptocurrency, "approaching $324 billion. DeFi activity has grown significantly in the past year, with a cryptocurrency value of $165.46 billion, accounting for one-third of the inflow to the region The report also mentioned that in this year's Global Cryptocurrency Adoption Index, regional participants Ukraine and Russia ranked 6th and 7th respectively, with Russia rising 6 places from last year's ranking. "(Crowdfund Insider)