By: Franyi Sarmiento, Ph.D., Inspenet, October 11, 2022
Latin America is positioned as the second region on the planet with the highest volume of transactions made with bitcoin (BTC) and other cryptocurrencies, preceded by the Middle East and North Africa, which, so far, seems to be the fastest growing crypto market in the entire world. world.
According to Chainalysis, the blockchain and security analysis firm, in its most recent publication, it highlights that Latin America reports a 40% growth in the entire volume of transactions made with cryptocurrencies in one year.
For the estimate, the firm contrasted the periods between July 2020 – June 2021, and July 2021 – June 2022. In that period, transactions executed with digital assets grew steadily.
On the other hand, the Middle East and North Africa, although they represent a small ecosystem and their level of adoption is low, “is the fastest growing market”, according to Chainalysis. The firm estimated at USD 566 billion in cryptocurrencies the amount of money received by users who live in that region of the world from July 2021 to June 2022. That was 48% more.
Egypt was the country that received the most cryptocurrencies in the mentioned period. This was in response to the “intersection of growing cryptocurrency remittances and rising inflationary pressures” from that country’s local currency, the Egyptian pound.
This material from the cryptonoticias.com portal was edited for clarity, style and length.
Photo: ShutterStock
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