Cryptocurrency is growing on an exceptional scale with 2021 being an important year for the development of this currency. A Global Crypto Adoption Index has been created by Chainalysis, a platform that collects blockchain data based on trading metrics.
They have released a report on how global economies are adapting to the new trends of cryptocurrencies. As per the findings of the report, Ukraine and Russia are leading the crypto race and are far ahead of most developed countries like the United States, Japan, and China.
In Asia, Pakistan ranks 15th in the world in terms of adoption of the digital currency. According to the report, Pakistan received USD 1.5 billion in crypto-cash last year. Experts believe that this number would have been more if the transactions had been made easier through better financial regulations.
Besides Pakistan, other developing countries also ranked high on the crypto-adoption index. Some African countries have landed some good spots and made it to the top 20 list. Kenya came 5th, South Africa 7th, and Nigeria was 8th on the currency adoption index.