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Chainalysis Report: North America Leads World in Cryptocurrency Adoption Despite Regulatory Issues

Chainalysis released the "2023 Cryptocurrency Regional Report", which pointed out that North America is still the region with the largest and most active cryptocurrency activities and transaction volume in the world. The estimated value of cryptocurrency received on the chain in North America from July 2022 to June 2023 is $1.2 trillion, accounting for 24.4% of global transaction activity during the same period. Compared with any other region, the cryptocurrency market in North America is more driven by institutional activities, with 76.9% of the trading volume being driven by transfers of $1 million or more. The on-chain activity in this region is relatively evenly distributed between DeFi and CEX. In addition, the report pointed out that due to regulatory uncertainty in the US market, the share of DeFi cryptocurrency activities in North America has declined significantly since last year. As North America emerges from the cryptocurrency winter, regulation will play an important role in its recovery.

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