India remains solid in first place as USA charges to second in global crypto adoption

The USA has become the second country in terms of crypto adoption globally per the latest Chainalysis Global Crypto Adoption Index, which reviewed data from July 2024 to June 2025.

The Chainalysis Global Crypto Adoption Index report also found that APAC countries led by India, Pakistan and Vietnam have furthered their status as a global crypto hub, with North America climbing to the second-highest regional position after approval of spot Bitcoin ETFs and regulations.

India retains its place in first position, but Nigeria has slid from second to sixth spot.

Crypto adoption is growing across regions 

APAC emerged as the fastest-growing region for on-chain crypto activity, with a 69% year-over-year increase in value received. Total crypto transaction volume in APAC grew from $1.4 trillion to $2.36 trillion, while Latin America’s crypto adoption grew by 63% because of adoption in retail and institutional segments.

More importantly, Sub-Saharan Africa’s adoption grew by 52%, indicating the region’s continued reliance on crypto for remittances and everyday payments.

Despite growth in Latin America, APAC, and Africa, it is North America and Europe that continue to dominate, receiving $2.2 trillion and $2.6 trillion in crypto in the past year. North America saw 49% growth, while Europe saw 42%

MENA saw a more modest 33% growth, suggesting a slower pace of adoption relative to other emerging markets, though total volume still exceeded half a trillion dollars.

When Chainalysis adjusted their index for population size, they uncovered that Eastern European countries were seeing higher crypto adoption and activity led by Ukraine, Moldova, and Georgia, with Jordan in the Middle East being the 4th on the list.

Stablecoins see growth globally

USDT processed over $1 trillion per month, between June 2024 and June 2025, peaking at $1.14T in January 2025, while USDC operated within the $1.24T to $3.29T range, peaking in October 2024.

However, the most rapid growth came from smaller stablecoins like EURC, PYUSD, and DAI.

When it comes to fiat on-ramping, Bitcoin leads by a wide margin, accounting for over $4.6 trillion in fiat inflows. Layer 1 tokens (excluding BTC and ETH), saw roughly $3.8 trillion in volume and stablecoins ranked third at $1.3 trillion, while altcoins followed at approximately $540 billion.

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