From July 2022 to June 2023, US residents conducted cryptocurrency transactions totaling more than $1 trillion, the highest figure in the world. This is evidenced by отчет аналитической компании Chainalysis.
North America accounted for 24.4% of the global transaction volume during the period.
The key driver of this activity is institutional investors. 76.9% of total transactions consist of transfers of $1 million and above.
the collapse of the FTX exchange and the start of criminal proceedings against Sam Bankman-Fried prompted outflows from the market by major players. However, the greater impact on the sector was the March crisis, marked by the closure of crypto-friendly banks Silicon Valley Bank,Silvergate andSignature.
Since June, activity in the region has been recovering.
Alongside this, Chainalysis noted a decline in stablecoin usage from 70.3% to 48.8% of on-chain transaction volume in the region over the past year. At the same time, most stablecoin transactions occur on exchanges that are not licensed in the United States.
North America continues to dominate the global turnover of the DeFi sector. As of June, on-chain activity in the United States and Canada was relatively evenly split between DeFi and centralized exchanges, according to analysts.
In Chainalysis’s global crypto adoption ranking for 2023, India, Nigeria, Vietnam, the United States and Ukraine topped the list.
The United Kingdom accounted for the largest volumes of crypto transactions in Europe — approximately $252.1 billion.