**Crypto Surge in MENA: $338.7 Billion in Transactions**

A recent Chainalysis report reveals that the Middle East and North Africa (MENA) region accounted for 7.5% of global cryptocurrency transaction volume from July 2023 to June 2024, totaling $338.7 billion. The bulk of these transactions came from institutional and professional investors, with 93% of transactions exceeding $10,000.

**Key Highlights:**

- **Institutional Dominance:** Small retail investors only contributed 1.8% of the transaction volume.

- **Centralized Exchanges:** Onchain traffic mainly flowed through centralized platforms.

- **UAE's Crypto Hub:** The UAE is emerging as a global crypto hub, thanks to regulatory clarity and a progressive stance on digital assets.

- **Legal Milestones:** In August 2024, Dubai courts recognized cryptocurrencies as valid payment for employment contracts.

- **Regulatory Advances:** UAE financial regulators now allow licensed virtual asset providers in Dubai to operate nationwide.

- **Investor Protection:** The Central Bank of the UAE approved a custodial insurance product to safeguard against hacks and fraud.

Stay tuned as the MENA region continues to shape the future of cryptocurrency!

#Write2Earn! #BinanceLaunchpoolHMSTR #SpotGoldATH #MENA #NeiroOnBinance