【Chainalysis: Institutions and DeFi Drive Cryptocurrency Adoption in Eastern Europe】

According to a report by Chainalysis, despite the challenges of war and regulation, the cryptocurrency adoption rate in Eastern Europe continues to grow steadily, driven by institutional and decentralized finance (DeFi) activities. Eastern Europe, as the fourth largest cryptocurrency market in the world, saw a total on-chain transaction value of $499.14 billion from July 2023 to June 2024, accounting for 11% of the global cryptocurrency total. Chainalysis further emphasizes that centralized cryptocurrency exchanges (CEX) are the main channels for cryptocurrency reception in Eastern Europe, with a total inflow close to $324 billion. At the same time, DeFi activities in the region have seen significant growth over the past year, with an inflow value of $165.46 billion, making up one-third of the inflow in Eastern Europe. The report also mentions that in this year's global cryptocurrency adoption index, Ukraine and Russia ranked 6th and 7th respectively, with Russia rising 6 places from last year.