ChainAnalysis Global Adoption index

[Amphenomenon]

Is another time of the year where ChainAnalysis  releases the list of the Countries/Regions global adoption index with India and Nigeria retaining their place as 1st and 2nd in Crypto adoption globally, US still 4th, thanks to Indonesia jumping from 7th last year to 3rd place, now the fastest growing in adoption with this.



You can see that there are some changes to the above images on how ChainAnalysis does their's, they spoke about it and I guessed this is more effective https://www.chainalysis.com/blog/2024-global-crypto-adoption-index/


Altcoin activity is growing fast with us the Sub-Saharan Africa and we have move on to use Defi than Centralise exchanges, I like this from the fact that it shows there's high hope that even if our government kick out Centralise Exchanges we have no issues moving to Defi.


Thanks to Bitcoin ETF, Bitcoin had a very much higher activity against all other cryptocurrency in the globe


There are increasing crypto activity across the globe and this range from every class of countries (lower income to higher income countries)
while the 2024 Global Adoption Index was dominated by the Central & Southern Asia and Oceania (CSAO) with 7 countries from this region making top 20.

Similar to last year, Central & Southern Asia and Oceania (CSAO) is the third largest crypto region we studied, accounting for more than $750.0 billion in crypto asset inflows between July 2023 and June 2024. CSAO accounts for 16.6% of global value received, placing the region behind only North America and Western Europe, and well above the remaining regions.

African still has a long way to go in this crypto adoption but I think with time another African country will make top 20 though I'm curious to see if Indonesia might pass after their remarkable jump

source:
https://www.chainalysis.com/blog/central-southern-asia-crypto-adoption-2024/
https://www.chainalysis.com/blog/central-southern-asia-crypto-adoption-2024/
https://www.coindesk.com/policy/2024/09/11/india-and-nigeria-lead-the-world-in-crypto-adoption-again-but-indonesia-is-fastest-growing-chainalysis/
https://t.me/cryptosayer/1008



 

[Lida93]

African still has a long way to go in this crypto adoption but I think with time another African country will make top 20 though I'm curious to see if Indonesia might pass after their remarkable jump

Am impressed with the feat so far about the expansion in biycoinand cryptocurrency adoption in Nigeria the giant of Africa very much representing as a giant should. With time other African countries would find their way to the top 20 list just like the CSAO with 7 countries topping the list having India in the lead.

Not to say that other countries in Africa have not embraced cryptocurrency to a wide extend but by population Nigeria is one most populated country in Africa and it's expected to see us topping the list among others. We hope to see more crypto friendly policies from our leaders in the future that would encourage more crypto interest among our people and institutions in order to drive us above India when next the index is taken.

[adultcrypto]

Despite the crackdown or cryptocurrency users and exchanges by our government, Nigeria still come out one of the top countries in the world in terms of crypto adoption. This is truly impressive and shows how deep the awareness of cryptocurrency has gone in Nigeria. It is just a shame that our government are not seeing the opportunities in this but rather chose to fight what could have contributed positively to our economy. At this rate, there is nothing out government can do to stop cryptocurrency. The best they would have done is to fast-track regulations so that they can legally enjoy the dividend that comes from cryptocurrency. 

[Felicity_Tide]

Is another time of the year where ChainAnalysis  releases the list of the Countries/Regions global adoption index with India and Nigeria retaining their place as 1st and 2nd in Crypto adoption globally, US drops to 4, thanks to Indonesia jumping from 7th last year to 3rd place, now the fastest growing in adoption with this.

I'm quite surprise at this stat. The first country I actually checked for was El Salvador, but it looks like there are other countries that are more tasty/ have more hunger for crypto adoption than those that even made it a legal tender. When they actually mentioned sub Saharan Africa, they will literally referring to us the Nigerians, as no other country could even come close. I would have liked to the see look on CBN's governs face, after seeing this stat. It's obvious that government's restrictions on cryptocurrency can't stop it's adoption among the citizens that are fighting for survival, even though we had to do it secretly.

I think we will see more of this adoption in Nigeria, seeing the number of people that has involved themselves in altcoin and airdrop related matters lately. But I doubt if any other country can overtake India from that top spot considering their economic problems and other things. I just remembered that the India government also have some tough rules on ground for exchanges. So it's obvious that the government of the two leading countries are not 100% opened to cryptocurrency, but they still ended up topping the chart.

And @Op, I noticed something. You mentioned that the united state dropped to 4th. but I checked last year's analysis, they were in same position. Vietnam actually dropped from 3 to 5, while Ukraine dropped from 5 to 6.

[liasbaa]

African still has a long way to go in this crypto adoption but I think with time another African country will make top 20 though I'm curious to see if Indonesia might pass after their remarkable jump

Not to say that other countries in Africa have not embraced cryptocurrency to a wide extend but by population Nigeria is one most populated country in Africa and it's expected to see us topping the list among others. We hope to see more crypto friendly policies from our leaders in the future that would encourage more crypto interest among our people and institutions in order to drive us above India when next the index is taken.

In 2023 Nigeria P2P Bitcoin transaction rate was the highest in the world and it is very promising and it is increasing steadily. Bitcoin adoption has also increased by 76%, which is a 15% increase between 2020-2023, even after the adoption of other cryptos. The way Bitcoin adoption is growing in Nigeria seems like it could rise to the top in the future, but if official monetary policy makers are more lenient towards Bitcoin, it could contribute to overall economic growth.

[SatoPrincess]

E dey surprise me say with all the problem way government dey give us we still dey number two for the list of countries way get highest amount of crypto users. Nigerians nor dey sabi give up na why we still dey kampe even with all the gbo gbo ti gbo way dey happen. See the way many Nigerians dey follow up airdrops for twitter and telegram back to back even old mama for village dey follow update. Na the hustling mentality nai keep us for number 2 for that list and if care no taken we go pass India very soon.

[Amphenomenon]

I'm quite surprise at this stat. The first country I actually checked for was El Salvador, but it looks like there are other countries that are more tasty/ have more hunger for crypto adoption than those that even made it a legal tender.

Ironic truth, I guessed this is among the main reason people hardly those legal tenders as something important because facing governmental issues in crypto adoption are even doing better than those where the government fully support of it, though  think population and economic factor play a long role in this though.

When they actually mentioned sub Saharan Africa, they will literally referring to us the Nigerians, as no other country could even come close. I would have liked to the see look on CBN's governs face, after seeing this stat. It's obvious that government's restrictions on cryptocurrency can't stop it's adoption among the citizens that are fighting for survival, even though we had to do it secretly.

It's obvious the Nigerian government has no chance of stopping crypto adoption in Nigeria, especially from the fact that it's now known majority use Defi than centralize exchanges, if they can be sensible they should just come up with a fair regulation for them to get something economically because we won't stop cryptocurrency adoption in Nigeria.

I think we will see more of this adoption in Nigeria, seeing the number of people that has involved themselves in altcoin and airdrop related matters lately. But I doubt if any other country can overtake India from that top spot considering their economic problems and other things. I just remembered that the India government also have some tough rules on ground for exchanges. So it's obvious that the government of the two leading countries are not 100% opened to cryptocurrency, but they still ended up topping the chart.

Nigeria and India will continue to lead since we're both facing high economic recession though I'm curious why did these big exchanges (binance & okx) comply with the India government terms rather than discontinued their service there just like they did in Nigeria ?

Also I think Indonesia still has a chance of topping Nigeria since we have similar population and they seems even more and also from the fact that their government has been in support of cryptocurrency and not like ours.

And @Op, I noticed something. You mentioned that the united state dropped to 4th. but I checked last year's analysis, they were in same position. Vietnam actually dropped from 3 to 5, while Ukraine dropped from 5 to 6.
-Image Edited Out-

Thanks for this I guessed I misinterpreted something earlier, Op has been updated.

[Lida93]

African still has a long way to go in this crypto adoption but I think with time another African country will make top 20 though I'm curious to see if Indonesia might pass after their remarkable jump

Not to say that other countries in Africa have not embraced cryptocurrency to a wide extend but by population Nigeria is one most populated country in Africa and it's expected to see us topping the list among others. We hope to see more crypto friendly policies from our leaders in the future that would encourage more crypto interest among our people and institutions in order to drive us above India when next the index is taken.

In 2023 Nigeria P2P Bitcoin transaction rate was the highest in the world and it is very promising and it is increasing steadily. Bitcoin adoption has also increased by 76%, which is a 15% increase between 2020-2023, even after the adoption of other cryptos. The way Bitcoin adoption is growing in Nigeria seems like it could rise to the top in the future, but if official monetary policy makers are more lenient towards Bitcoin, it could contribute to overall economic growth.

I agree with you about the growth of bitcoin adoption by Nigerians but would have really appreciated you had attached a link to backup these percentages you given as I would have loved to access it source myself. Although this increase in adoption doesn't come to me as a surprise because with the rate of inflation inflicting the country's economic which has really impacted badly on the country currency value a lot of people are now seeing bitcoin as a useful alternative to hedge their funds. And again some Nigerians have delved into Crypto trading and p2p as means of extra income otherwise safe-haven as a result of the exploded lack of jobs

Nigeria and India will continue to lead since we're both facing high economic recession though I'm curious why did these big exchanges (binance & okx) comply with the India government terms rather than discontinued their service there just like they did in Nigeria ?

While you make such relevant question you should also try to check the approach used by the two countries towards these exchanges that made them to decide to comply to one and refuse the other in their regulatory policies. We all witness the manner at which the Nigeria government attacked these exchanges rather than acting diplomatic in making their requirements known.