India ranks first among 154 nations in grassroots crypto adoption

Daily Current Affairs / India ranks first among 154 nations in grassroots crypto adoption

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Category : International Published on: September 20 2023

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India has been ranked first in grassroots crypto adoption, even amid a tough regulatory environment, according to Chainalysis’ 2023 Global Crypto Adoption Index.
The country ranked first in four parameters including centralized service value received, retail centralized service value received, DeFi value received and Retail DeFi value received. Last year India stood fourth.
Nigeria ranked second in the index, followed by Vietnam, United States and Ukraine.
The report also said that low-income countries saw a dramatic uptick in crypto adoption following a slump in late 2022, spurred by the collapse of the FTX.

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India ranks first among 154 nations in grassroots crypto adoption