2021年加密货币报告（英）-133页_9mb

2021 Geography of Cryptocurrency Report Summary

Core Content

The 2021 Chainalysis Global Crypto Adoption Index and Global DeFi Adoption Index provide insights into the geographic distribution of cryptocurrency adoption and DeFi usage across the world. These indices are based on three key metrics that measure on-chain activity, retail transactions, and P2P trade volumes, all weighted by PPP per capita and internet user base. The report highlights how cryptocurrency adoption varies significantly between developed and emerging markets, with the latter driven by necessity and P2P platforms.

Main Points

• Global Crypto Adoption Growth: Cryptocurrency adoption globally has seen a significant increase, with a reported jump of over 881% in the last year and 2300% since Q3 2019. This growth is attributed to both institutional investment in developed regions and grassroots adoption in emerging markets.

• P2P Platforms in Emerging Markets: Countries like Vietnam, Kenya, Nigeria, and Venezuela rank high due to their substantial P2P transaction volumes, especially when adjusted for PPP and internet users. These platforms are crucial for users in regions with unstable currencies and limited access to centralized exchanges.

• Methodology Changes: The report removed the "Number of deposits by country weighted by internet users" metric from the Crypto Adoption Index because it skewed results toward DeFi, which is non-custodial and fully on-chain. A new DeFi Adoption Index was introduced to specifically track DeFi adoption.

• DeFi Adoption Trends: DeFi adoption is primarily driven by high-income countries with established cryptocurrency markets, such as the United States, China, and Western Europe. DeFi transactions are more concentrated among professional and institutional users, with large transactions (over $10 million) accounting for over 60% of DeFi activity in Q2 2021.

• Regional Breakdown:

  • North America (especially the U.S.) leads in both crypto and DeFi adoption.
  • Emerging markets show strong grassroots adoption, with P2P platforms playing a central role.
  • China and the U.S. dropped in the Crypto Adoption Index due to a decline in P2P trade volumes.

• Illicit Activity Concerns: North America received a significant portion of illicit cryptocurrency activity, including stolen funds, darknet markets, fraud shops, and ransomware. This highlights the need for improved security and regulatory oversight.

Key Information

• Top 20 Countries in 2021 Global Crypto Adoption Index:

  • Vietnam (1)
  • India (2)
  • Pakistan (3)
  • Ukraine (4)
  • Kenya (5)
  • Nigeria (6)
  • Venezuela (7)
  • United States (8)
  • Togo (9)
  • Argentina (10)
  • Colombia (11)
  • Thailand (12)
  • China (13)
  • Brazil (14)
  • Philippines (15)
  • South Africa (16)
  • Ghana (17)
  • Russian Federation (18)
  • Tanzania (19)
  • Afghanistan (20)

• Top 20 Countries in 2021 Global DeFi Adoption Index:

  • United States (1)
  • Vietnam (2)
  • Thailand (3)
  • China (4)
  • United Kingdom (5)
  • India (6)
  • Netherlands (7)
  • Canada (8)
  • Ukraine (9)
  • Poland (10)
  • France (11)
  • Australia (12)
  • Turkey (13)
  • Switzerland (14)
  • Russian Federation (15)
  • Argentina (16)
  • Brazil (17)
  • Portugal (18)
  • Hong Kong (19)
  • Togo (20)

• Geographic Distribution of Crypto Activity:

  • North America accounts for 18% of global crypto value received.
  • Emerging markets like Africa, Latin America, and Central & Southern Asia show higher engagement with P2P platforms.

• Illicit Activity in North America:

  • Illicit activity represents a significant portion of the crypto value received in North America.
  • Types of illicit activity include stolen funds, darknet markets, fraud shops, ransomware, and terrorism financing.

Conclusion

The 2021 report underscores the global reach of cryptocurrency and highlights the distinctive adoption patterns between grassroots users in emerging markets and professional/institutional users in developed regions. While P2P platforms are the main driver of adoption in emerging markets, DeFi is gaining traction in high-income countries. The report also raises concerns about illicit activity, especially in North America, and acknowledges the limitations of on-chain data in measuring all forms of cryptocurrency activity.