Cryptocurrencies in the world: a humiliating ranking for France? – The ₿log

The third edition of the annual ranking entitled Global Crypto Adoption Index 2022 reveals unexpected results. Contrary to what one might think, the countries that adopt cryptocurrencies the most are not the ones that one would think of first.

And the winner is…

Vietnam ! For the second consecutive year, this Asian country is the one where the adoption of cryptocurrencies has been the strongest between 2021 and 2022. Within this top 3, follow the Philippines and Ukraine.

The ranking puts 143 countries in competition according to a very precise methodology and evaluating five sub-indexes:

  • Value of on-chain cryptocurrencies received in centralized exchanges;
  • On-chain retail value received in centralized platforms;
  • Volume of peer-to-peer (P2P) exchanges;
  • Value of on-chain cryptocurrencies received from DeFi protocols;
  • On-chain retail value received from DeFi protocols;

The closer the index is to the value 1, the higher the adoption score within the country, with Vietnam having taken the absolute score in each of the sections.

Has China succeeded in its fight against cryptos?

What about the Middle Empire? As we know, China has made cryptocurrencies, and in particular Bitcoin, a “non-grata token” on its territory. The authorities of Beijing have carried out for several months actions aimed at prohibiting it.

Except no. According to Chainalysis, this ban was “ either ineffective or loosely applied since, according to his study, China is in tenth place countries in terms of cryptocurrency adoption.

Read also News Ethereum: Another delay for the transition to proof-of-stake?

This astonishing performance is one of the big surprises of this ranking. From the 4e at the 9e place, we find India, USA, Pakistan, Brazil, Thailand and Russia. Follow from the 11e at the 20e square : Nigeria, Turkey, Argentina, Morocco, Colombia, Nepal, UK, Ecuador, Kenya and Indonesia.

France in the top… 30

This is the other big surprise of this study. Or in any case, if it is not for the experts, it sets the record straight when it comes to crypto chauvinism. France is only at the 32e place in the ranking. It is still 2 places better than for the previous edition, where France arrived 34e .

The Chainalyses study also reveals that this year’s bear market has hindered the adoption of cryptocurrencies around the world. She also gives an explanation for the high adoption by emerging powers of cryptocurrencies, believing that “ cryptocurrency offers (to these countries, note) unique and tangible benefits to people living in unstable economic conditions. »

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Cryptocurrencies in the world: a humiliating ranking for France? – The ₿log

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