UK tops crypto activity in Central, Northern and Western Europe: Chainalysis
The United Kingdom has emerged as a major cryptocurrency economy worldwide and the biggest crypto country in terms of raw transaction volume in Central, Northern and Western Europe (CNWE), according to a new study.
The blockchain analytics firm Chainalysis released two new chapters of its 2023 Geography of Cryptocurrency report on Oct. 18, including its brand new CNWE study and the second edition on Eastern Europe.
According to the CNWE-focused report, the region was the second-largest crypto economy in the world over the past year, behind only North America. The region accounted for 17.6% of global transaction volume between July 2022 and June 2023, receiving an estimated $1 trillion in on-chain value during the time period.
The U.K. has topped CNWE’s biggest crypto economies list and ranked third in the world in terms of transaction volumes after the United States and India. According to Chainalysis, the U.K. received an estimated $252.1 billion in cryptocurrency transactions in the past year.
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