Chainalysis' recent report has manifested that emerging markets continued to adopt digital assets as a response to inflation in 2021.
Chainalysis’ recent report has manifested that emerging markets continued to adopt digital assets as a response to inflation in 2021.
America-based investors led by a considerable margin at an estimated $47.0 billion gains ahead of investors from any other country. Meanwhile, emerging markets demonstrated a substantial growing interest in adopting cryptocurrencies and seeing such an economic opportunity.its transaction and web traffic data to conduct geographic analysis on cryptocurrencies and investors’ behavior.
However, due to the decentralized nature of blockchain technology, the firm admitted that the data was not perfect, only including information from exchanges, and thus ideally should include a calculation on “the gains at the individual or wallet level.”According to Chainalysis’ report, developed countries like America, the UK, and Germany were the top three nations in terms of realized cryptocurrency gains.
The report also noted that emerging economies whose collective gains in digital assets had outperformed their worldwide GDP rankings may have chosen the asset class as a reaction to domestic inflation.