Crypto adoption index 2022 - Chainanalysis You can click on the above link to see the summary of the report. On the world map included, you can see the extent of the crypto adoption per each country. You can click on any country on the map to see the countries index score and rank.
What is grassroots adoption of cryptocurrency?
Think of it this way: We could easily rank countries by raw cryptocurrency transaction volume, which would give you a straightforward view of where the most cryptocurrency activity is happening. But that’s not what we’re interested in. The goal of our index is to measure where the most people are putting the biggest share of their money into cryptocurrency. While institutional activity is important to that, we also want to highlight the countries where individual, non-professional investors are embracing digital assets the most. You can read our methodology below to learn how we do that, then keep scrolling to see the top 20 of our index. You can also see where any country ranks using the interactive map above.
Methodology used is based on five sub-indexes, 146 countries were ranked between scale of 0 to 1, the ranking from 0 which is the lowest score, to 1 which is the highest score. For the sub-index calculation, countries transaction volume for different services and protocols based on web traffic are estimated.
In order to calculate our sub-indexes, we estimate countries’ cryptocurrency transaction volumes for different services and protocols based on the web traffic patterns of those services’ and protocols’ websites. Relying on web traffic data means that usage of VPNs and other products that mask online activity, but given that our index takes into account hundreds of millions of transactions, VPN usage would need to be extremely widespread to meaningfully skew our data. Experts we interviewed for the report generally agreed that our index matches their perceptions of the markets they operate in, giving us more confidence in the methodology.
The five sub-index usedOn-chain cryptocurrency value received at centralized exchanges, weighted by purchasing power parity (PPP) per capita
On-chain retail value received at centralized exchanges, weighted by PPP per capita
Peer-to-peer (P2P) exchange trade volume, weighted by PPP per capita and number of internet users
On-chain cryptocurrency value received from DeFi protocols, weighted by PPP per capita
On-chain retail value received from DeFi protocols, weighted by PPP per capita
One if the key takeaways from the 2022 Crypto Adoption Index is that the overall adoption slows worldwide in bear market, but it remains above pre-bull market levels. But this is how crypto market has been, there are both bull and bear periods, the bear would follow the bull but as the adoption slows down in bear time, it is still above the bull time. This has led to the over increase in crypto adoption since bitcoin was created.
You can read the summary in details:
https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/
