According to Chainalysis' 2023 Global Cryptocurrency Adoption Index, India ranks first in grassroots cryptocurrency adoption. In this index, India ranks higher than other countries with a large amount of Bitcoin trading and mining activity. Additionally, when examining the countries with high estimated cryptocurrency values received from July 2022 to June 2023, India ranks second. In the past year, India has obtained approximately $250 billion worth of cryptocurrency, second only to the United States, which obtained approximately $1 trillion worth of cryptocurrency during the same period. India ranks first in the overall index, second in the concentrated service value ranking, third in the retail concentrated service value ranking, and fifth in the P2P exchange trading volume ranking. Nigeria, Vietnam, the United States, Ukraine, the Philippines, and Indonesia closely follow India.
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Chainalysis: India ranks first in grassroots cryptocurrency adoption
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