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Eastern Europe is experiencing a significant surge in cryptocurrency adoption, driven by both institutional investments and grassroots movements amidst regional instability. According to a report by Chainalysis, Ukraine and Russia are leading in crypto adoption across all levels. The region has become the fourth-largest crypto market globally, recording $499 billion in crypto transactions from July 2023 to June 2024. Notably, decentralized finance (DeFi) accounts for one-third of the total value, amounting to $165 billion, with DeFi’s 33% slice. Russia and Ukraine have shown remarkable adoption, with transaction values of $182 billion and $106 billion, respectively. Additionally, the $120 billion cryptocurrency Tether has gained traction in European, Middle Eastern, and African time zones.
Crypto use is growing fast in Eastern Europe. Between July 2023 and June 2024, the region received $499B in crypto, with $165B of that in DeFi. https://t.co/2d2TtgnNTI
EASTERN EUROPEAN CRYPTO SURGE DRIVEN BY DEFI Eastern Europe has grown to the fourth-largest crypto market globally, recording $499B in crypto transactions in a year, with DeFi accounting for one-third of the total value. Russia and Ukraine lead, showing “remarkable” adoption… https://t.co/8dEN1N9Mdu
EASTERN EUROPE GOES BIG ON CRYPTO — $499B FLOW, DEFI’S 33% SLICE Eastern Europe hit #4 in global crypto action with $499B from July 2023 to June 2024—DeFi is booming here, at 33% of flows. Russia, Ukraine lead in transaction value — $182B and $106B, thanks to inflation and… https://t.co/GG3eJa7iAy
