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Crypto Adoption Is Surging Globally -- but Not in the U.S.

Crypto Adoption Is Surging Globally -- but Not in the U.S. Worldwide uptake of cryptocurrencies last year got more traction than Elon Musk driving a souped-up Tesla at a Dogecoin e-vehicle rally. (That's a thing, right?) Regardless, crypto is a thing, and it's growing fast globally -- its adoption skyrocketed 881% compared to the prior year. In its second annual Global Crypto Adoption Index, Chainalysis found that the top five countries for cryptocurrency acceptance were Vietnam, India, Pakistan, Ukraine, and Kenya. The U.S. slid from sixth to eighth in the ranking, while China fell from fourth to 13th -- in large part due to its ongoing crypto crackdown. Emerging economies are seeing a boom Chainalysis states that the index's methodology ranked 154 countries based on three weighted, multi-variable metrics. Those statistical models were necessary to level the playing field for emerging countries such as Togo (10th), compared to developed countries such as the U.K. -- which didn't even crack the crypto adoption top 20. The purpose of the ranking was to "highlight the countries with the greatest cryptocurrency adoption by ordinary people, and focus on use cases related to transactions and individual saving, rather than trading and speculation."

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