UK leads European crypto economy with USD 217 billion on-chain
Recent data from the blockchain analysis firm Chainalysis
highlights that the UK holds the largest cryptocurrency economy in Central, Northern, and Western Europe (CNWE).
highlights that the UK holds the largest cryptocurrency economy in Central, Northern, and Western Europe (CNWE).
The UK moved up two spots to twelfth in the Chainalysis Global Crypto Adoption Index, recording USD 217 billion in on-chain crypto value from July 2023 to June 2024. In CNWE, merchant services represent a growing segment, driven primarily by the UK, where this sector expanded by 58.4% year-over-year.
This region has the second-largest market for crypto merchant services globally, trailing only Central and Southern Asia and Oceania (CSAO). Stablecoins lead as the most frequently used asset type, making up 60-80% of the market share each quarter.
Overall,…
