Global grassroots adoption has declined for the first time since the inception of crypto, a preliminary report from Chainalysis indicates.

The index, examining crypto usage and adoption across 154 countries, indicates a notable decrease since its 2021 peak. Still, a silver lining emerges in the data as Asia maintains its global lead in crypto adoption.

Asia at the Forefront of Crypto Adoption

India claims the top spot in the Global Crypto Adoption Index. Following closely are Vietnam, the Philippines, Ukraine, and Kenya. It is worth noting that six out of the top ten countries are from Central and Southern Asia and Oceania.

The predominance of Asian nations in these rankings underscores the region’s accelerating embrace of crypto, even as adoption wanes in other parts of the world.

The global decrease in crypto adoption corresponds with the prolonged “crypto winter.” Likewise, the significant price downturn experienced by the crypto market over the past year has had a significant impact.

Read more: Crypto Trading Courses Tailored for Beginners

Although there has been a hint of recovery, g

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Author: Josh Adams

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