Lower-middle income countries lead in crypto adoption, but not volume: Chainalysis

India leads the world in crypto adoption, followed by Nigeria and Vietnam, according to a new Chainalysis report. Nonetheless, North America accounts for nearly a quarter of all value received by cryptocurrency exchanges, with the United States leading by far.

To calculate adoption, Chainalysis used web traffic data from 13 billion web visits to track five categories of activity, weighted by purchasing power parity per capita. That is, “if two countries received equal amounts of cryptocurrency at centralized services, the country with lower PPP per capita would rank ahead.” That will help determine where “everyday people are embracing crypto the most.”

Crypto adoption is down…

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