Russia’s Crypto Market Value Now Larger Than European Players
Russia has overtaken its rivals to become Europe’s largest cryptocurrency market by transaction volume, according to data from Singapore’s blockchain analytics firm Chainalysis.
In a report released on Thursday (October 16), Chainalysis said that from July 2024 to June 2025, Russia received US$376 billion in crypto value—up from US$256.5 billion a year earlier and surpassing the UK’s US$273 billion. Germany followed with US$219 billion, Ukraine with US$206.3 billion, and France with US$180.1 billion.
Chainalysis credited Russia’s rise to a surge in institutional transfers and rapid DeFi adoption. Transactions over US$10 million jumped 86% year-over-year—nearly double Europe’s 44% growth—while retail activity also outpaced…
