According to Odaily Planet Daily, according to the Chainalysis report, the UAE received more than $30 billion in cryptocurrencies between July 2023 and June 2024, ranking among the top 40 in the world. The country's crypto activities show an overall growth trend.

The report pointed out that the growth of cryptocurrency acceptance in the UAE was driven by regulatory innovation, institutional interest and market activity. The cryptocurrency acceptance of small and large retail investors increased by more than 75% year-on-year, and the acceptance of institutional investors increased by more than 50% year-on-year.

The UAE is the third largest crypto economy in the Middle East and North Africa region, and its crypto ecosystem is more diverse than other countries. The UAE's DeFi adoption rate is higher than the global average, with 32.4% of crypto transactions conducted through DEX.

Compared to last year, the total value of crypto received through DeFi services in the UAE increased by 74%, and the value of tokens received through DEX increased by 87%, from $6 billion to $11.3 billion. Crypto activities in the UAE have been escalating since attracting blockchain and crypto companies.