Global adoption of cryptocurrency increased by 881%, led by Asian countries, index shows

The Chainalysis blockchain platform released the 2021 cryptocurrency application index, which ranks 154 countries to promote cryptocurrencies. According to the company, Global Crypto acceptance is the 3rd of has increased by more than 2300% since the quarter and by more than 881% last year.

New Global Cryptocurrency Application Index
On Wednesday, Chainalysis released a preview of a report on the geography of cryptocurrencies for 2021, to be published in September. The report includes the “2021 global cryptanalysis practice Index,” the company’s second iteration ” to measure mass adoption of cryptocurrencies worldwide.”

The Blockchain data analytics company announced that its global crypto application Index consists of three statistics. The first is”the resulting value of cryptocurrency, predominantly based on purchasing power parity (PPP) per capita.” The second is” retail value transferred to the network weighted by PPP per capita” and the third is”peer-to-peer (P2P) exchange trading volume weighted by PPP per capita and the number of Internet users ” Dec.

Chainalysis, a new crypto currency to accept last year’s index is used to index the biggest change in “the dismantling of the fourth metric,” said stemmed; this is “the number of internet users in each country is weighted according to the number of deposits.” Company explained:

We rank all 154 countries according to each of these three indicators, take the average of the geometric ranking of all three countries, and then normalize this final number from 0 to 1 to give each country a score that determines the overall ranking. The closer the country’s final score is to 1, the higher the ranking.

According to the 2021 global crypto entry index, Vietnam ranks first, followed by India, Pakistan, Ukraine, Kenya, Nigeria, Venezuela and the United States.

The top 20 countries in the Chainalysis 2021 global crypto entry index and their rankings based on the component indicators that make up the overall ranking. Source: chain analysis.

China and the US plunged into the new overall ranking. Last

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