Chainalysis Releases 5th Edition of Global Crypto Adoption Index
The 5th edition of the "Chainalysis Global Crypto Adoption Index" has been published by New York-based blockchain analysis firm Chainalysis.
The Global Crypto Adoption Index is composed of four sub-indices, each based on the use of different types of cryptocurrency services by countries. The sub-indices include:
- The value of cryptocurrency received by centralized services
- The value of retail cryptocurrency received by centralized services
- The value of cryptocurrency received by DeFi protocols
- The value of retail cryptocurrency received by DeFi protocols
All these indices are weighted according to the GDP per capita adjusted for purchasing power parity (PPP).
Chainalysis ranks 151 countries with sufficient data on each sub-index, adjusts the rankings based on population size and purchasing power, calculates the geometric mean of the rankings for each country across the four sub-indices, and then normalizes the final score on a scale of 0 to 1. A score closer to 1 indicates a higher ranking.
Globally, the top countries for cryptocurrency adoption are:
- India
- Nigeria
- Indonesia
- United States
- Vietnam
In North Africa, the ranking is as follows:
- Morocco leads, ranking 27th globally, followed by Algeria (43rd), Egypt (44th), Tunisia (80th), and Libya (100th).
