Chainalysis: Vietnam is among the top 10 countries in terms of cryptocurrency adoption index

Chainalysis: Vietnam is among the top 10 countries in terms of cryptocurrency adoption index

By HenryDo | CRYPTO CAPICAL | 9 Sep 2020

According to new research from Chainalysis, Ukraine has beaten Russia, China and many other countries in terms of crypto adoption index by 2020.


In recent statistics released by blockchain data analytics firm Chainalysis, the Global Crypto Adoption Index 2020 indicates that Ukraine is the leading country, followed by Russia. and Venezuela.

Some of the ranking criteria are: number of on-chain crypto deposits by number of internet users, total value of on-chain cryptocurrency transactions by purchasing power per capita (PPP), and exchange value retail of cryptocurrencies on-chain on PPP.

In addition, the index also takes into account the volume of transactions performed on peer-to-peer (P2P) cryptocurrency exchanges, based on both the number of Internet users and per capita purchasing power (PPP).


In fact, it is not surprising that Vietnam is in the top 10 countries in terms of the cryptocurrency adoption index, when over the past few years our country regularly appears in the top list of countries with traffic. the most are on cryptocurrency exchanges (Binance, Huobi) and coin price checkers like CoinmarketCap and Coingecko.

In the ranking above, Vietnam ranked second in terms of value of retail transactions and all on-chain transactions.

No Western European country has ranked in Chainalysis's list of top ten countries in terms of cryptocurrency adoption index.

Chainalysis describes Venezuela as a "stellar example" of the force driving global cryptocurrency adoption.

“According to our data, Venezuelans are using cryptocurrency more than the domestic fiat currency. Because the national currency of Venezuela is devalued due to inflation, the vast majority of people in this country have been switching to using electronic money in daily life, such as exchanging and buying and selling ”


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