America

Value

United

DeFi

<div class="intro-text"> 
 Despite facing an ambiguous regulatory environment, North America continues to dominate the global cryptocurrency landscape. <a style="color: #0000ff;" href="https://www.chainalysis.com/blog/north-america-crypto-adoption-2024/">According to recent data from Chainalysis</a>, the region received $1.3 trillion in on-chain value from July 2023 to June 2024, accounting for 22.5% of global crypto activity. 
</div> 
The Chainalysis report attributed much of this activity to institutional investors, with approximately 70% of North America’s crypto transactions consisting of transfers exceeding $1 million. This growing institutional momentum is bolstered by legacy financial giants like Goldman Sachs, Fidelity, and BlackRock, all of which are taking serious positions in the crypto space. 
<figure id="attachment_18615" aria-describedby="caption-attachment-18615" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-large wp-image-18615" src="https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume-1024x666.png" alt="Regional Transcation Volume" width="1024" height="666" srcset="https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume-1024x666.png 1024w, https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume-300x195.png 300w, https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume-768x499.png 768w, https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume-600x390.png 600w, https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume-750x488.png 750w, https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume-1140x741.png 1140w, https://defi-planet.com/wp-content/uploads/2024/10/Regional-Transcation-Volume.png 1500w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption id="caption-attachment-18615" class="wp-caption-text">
 Source: <a href="https://www.chainalysis.com/blog/north-america-crypto-adoption-2024/">Chainalysis</a>
 </figcaption>
</figure> 
The United States stood out as the largest and most influential cryptocurrency market globally, contributing an “overwhelming majority” of the region’s activity. Chainalysis reported that over $750 billion in cryptocurrency was received in the country alone between July 2023 and July 2024. Canada also played a significant role; it received around $119 billion worth of crypto during the same period. 
However, the report also noted that the U.S. lags in stablecoin adoption. It revealed that while stablecoin transactions on U.S.-regulated exchanges were on the rise until 2023, this trend reversed in 2024. The volumes occurring on exchanges outside the U.S. are on the rise instead, indicating that global stablecoin adoption is outpacing growth within the U.S. 
In early October, Chainalysis<a href="https://www.chainalysis.com/blog/2024-latin-america-crypto-adoption/"> reported</a> that Latin America has emerged as the second-fastest-growing region in cryptocurrency, boasting a year-over-year growth rate exceeding 42%. Within this landscape, Brazil’s stablecoin market is flourishing, with the country receiving nearly $90.3 billion in crypto between July 2023 and June 2024, closely following Argentina.&nbsp; 
Meanwhile, the Middle East and North Africa (MENA) region has now become the seventh-largest cryptocurrency market,<a style="color: #0000ff;" href="https://defi-planet.com/2024/09/mena-region-now-7th-largest-crypto-market-globally-chainalysis/"> according to the same Chainalysis report</a>. During the same period, countries in MENA received $338.7 billion in cryptocurrencies, accounting for 7.5% of the global on-chain value. Türkiye led the region with $137 billion, followed by Morocco at $12.7 billion. Notably, these two countries are the only MENA representatives in Chainalysis’ global crypto adoption index. 
&nbsp; 
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a style="color: #0000ff;" href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/10/north-america-received-22-of-all-on-chain-crypto-value-since-july-2023-report/">North America Received 22% of All On-Chain Crypto Value Since July 2023 — Report</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

North America Received 22% of All On-Chain Crypto Value Since July 2023 — Report

DeFi Planet

Other articles published on Oct 17, 2024

Whale Investor Gains Over $5 Million in Meme Tokens

Analysts Reveal the 11 Altcoins with the Most Growth in the Last One Week – Here’s the List

SCRYPT partners with ORSEN to facilitate a global blockchain partnership between Polkadot and Int...

Crypto Fear and Greed Index Surges to 3-Month High as BTC Rallies 14% Weekly

Dogecoin Investor Makes $87 Million Purchase, Eyes $0.50 Price Target

XRP Price Struggles To Break $1 As This Rival $0.03846 DeFi Coin Gains Traction, Could This Token...

Join our free newsletter for daily crypto updates!