Vietnam topped Chainalysis’s 2022 Global Crypto Adoption Index.
Chainalysis’ report “Global Crypto Adoption Index 2022” showed that crypto adoption is slowing due to the bear market. However, it is still bullish when compared to before the bull market.
Vietnam Top of the List
Vietnam, which was at the top of 2021, managed to take the first place again. The Philippines and war-torn Ukraine followed. Interestingly, China managed to enter the top 10 again after the crypto ban.
Chainalysis said that crypto adoption, which has been steadily increasing since 2019, has declined this year.
In a survey of 154 countries, Vietnam came back to the top. The biggest reason for this is estimated to be the increasing blockchain games in the Southeast Asian region.
Another study by Chainalysis revealed that 21% of Vietnamese have used cryptocurrencies at some point in their lives. Nigeria ranks first in this regard with a rate of 32%.
The Philippines took the second place on the list, while Ukraine took the third place. The biggest reason for the increase in digital asset adoption in Ukraine may be the deterioration of the country’s economy due to the war with Russia.
Countries such as Turkey, Brazil, Thailand and Argentina are also in the top twenty of the list.
The United States ranked fifth on this list, while the United Kingdom ranked 17th.
Following the crypto ban, China rose from 13th place in 2021 to 10th in 2022.
