**Cryptocurrency trading volume in the Middle East and North Africa accounts for 7.5% of the world: institutional investors dominate the market**

BlockBeats news, on September 27, according to the latest report released by Chainalysis, the Middle East and North Africa (MENA) accounted for 7.5% of the global cryptocurrency trading volume between July 2023 and June 2024. This means that the region plays an increasingly important role in the global cryptocurrency market.

**Institutional investors dominate**

The report shows that the total transaction volume in the MENA region during this period reached a staggering $338.7 billion, with the vast majority of trading volume coming from institutions and professional investors. Specifically, an estimated 93% of the transactions were over $10,000, while small retail investors accounted for only 1.8% of the region's trading volume. This shows that despite the low participation of ordinary investors, large transactions are frequent and the market activity remains unabated.

**Centralized trading platforms dominate the mainstream**

On-chain traffic in the MENA region is mainly conducted through centralized trading platforms, which is similar to the trend in other parts of the world. However, the report also pointed out that the UAE and Saudi Arabia have shown "high interest" in decentralized platforms. This may indicate the potential and development space of decentralized trading platforms in the region in the future.

**UAE: The rise of the global cryptocurrency center**

Chainalysis particularly emphasized that the UAE has rapidly emerged as a global cryptocurrency center with its regulatory clarity and forward-looking attitude towards digital asset technology. It is worth noting that in August 2024, the Dubai Court of First Instance ruled that cryptocurrencies can be used as a legal payment method for employment contracts and recognized that employees have the right to receive digital tokens stipulated in legal work agreements. This ruling undoubtedly provides strong support for the legality of cryptocurrencies in practical applications.

**Conclusion and Interaction**

Overall, the Middle East and North Africa region is becoming increasingly important in the global cryptocurrency market, especially the UAE's positive attitude in regulation and technology, which has brought more opportunities and development space to the region. For investors, this is undoubtedly a market dynamic worth paying attention to.

Dear readers, what do you think of the performance of the MENA region in the cryptocurrency market? Do you think decentralized platforms will have greater development in the future?Feel free to share your views and insights in the comments section, we look forward to interacting with you! 😊