Eastern Europe receives $499B in crypto, driven by institutional and DeFi growth.
Russia’s crypto inflows grow as sanctions boost use of domestic and no-KYC exchanges.
Ukraine aligns with the EU’s MiCA regulations, aiming for regulated crypto adoption and investment.
Crypto adoption in Eastern Europe is increasing, despite war and regulatory uncertainties. The region received $499.14 billion in crypto between July 2023 and June 2024, representing 11% of global crypto inflows. Eastern Europe is the fourth-largest cryptocurrency market globally.
Centralized exchanges (CEXes) dominate crypto inflows in Eastern Europe, receiving nearly $324 billion over the past year. Decentralized finance (DeFi) has also grown, with $165.46 billion in crypto transactions, a 40% increase year-on-year. DeFi now accounts for over one-third of the region’s total crypto inflows. Countries like Ukraine and Russia lead this growth, with DeFi inflows to decentralized exchanges (DEXes) rising sharply.
In Ukraine, institutional and professional crypto transfers have increased as citizens seek financial stability. WhiteBIT, a major global crypto exchange founded in Ukraine, has also…
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