{"id":89995,"date":"2025-10-17T11:49:22","date_gmt":"2025-10-17T08:49:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=89995"},"modified":"2025-10-17T11:52:47","modified_gmt":"2025-10-17T08:52:47","slug":"chainalysis-russias-crypto-market-hits-a-record-376bn","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/chainalysis-russias-crypto-market-hits-a-record-376bn\/","title":{"rendered":"Chainalysis: Russia\u2019s crypto market hits a record $376bn"},"content":{"rendered":"

Between July 2024 and June 2025, Russia\u2019s crypto market reached $376bn, putting the country first among European nations, according to a report by \u0421hainalysis<\/a>.<\/p>\n

The UK, which traditionally topped the ranking, slipped to second with $273.2bn. Germany ($219.4bn), Ukraine ($206.3bn) and France ($180.1bn) rounded out the top five.<\/p>\n

\"image\"
Source: Chainalysis.<\/figcaption><\/figure>\n

Analysts also recorded a record rise in crypto transaction volume attributable to Russia, which reached $379.3bn.<\/p>\n

Key drivers included a jump in large institutional transfers. Transactions over $10m rose 86%, nearly twice the European average.<\/p>\n

\"image\"
Source: Chainalysis.<\/figcaption><\/figure>\n
\n

\u201cOther segments of Russia\u2019s crypto ecosystem, in particular the activity of small retail investors, showed growth rates moderately ahead of European averages,\u201d the specialists added.<\/em><\/p>\n<\/blockquote>\n

Another factor was the rise of DeFi<\/a>. In early 2025, activity in this segment jumped nearly eightfold versus mid-2023. It later corrected, but remains above initial levels.<\/p>\n

\"image\"
Source: Chainalysis.<\/figcaption><\/figure>\n

What about Europe?<\/h2>\n

Over the year, Europe\u2019s largest economies saw crypto transactions grow by more than 50%. The fastest growth was in Germany, Ukraine and Poland.<\/p>\n

Analysts noted that the observed pattern aligns with the S-curve<\/span> of technology adoption, but with one feature: even in mature markets, growth remains steady rather than reaching a plateau.<\/p>\n

\"image\"
Source: Chainalysis.<\/figcaption><\/figure>\n
\n

\u201cThe region shows an unexpected positive correlation between transaction volume and growth rates, which challenges the conventional notion that large markets grow more slowly,\u201d they added.<\/em><\/p>\n<\/blockquote>\n

The rollout of MiCA<\/a> also buoyed market dynamics, Chainalysis said. Analysts pointed to a surge in institutional interest in the sector.<\/p>\n

In DeFi, growth was steady as well. Countries in the European Economic Area stood out for cross-chain<\/a> operations \u2014 in February and March 2025, activity in this category was 65% higher than in other regions. Interest in crypto lending also rose among European users.<\/p>\n

\"image\"
Source: Chainalysis.<\/figcaption><\/figure>\n

Shifts in the stablecoin market<\/h2>\n

The new rules also reshaped the landscape for stablecoins<\/a>. The European Securities and Markets Authority issued 15 licences to stablecoin issuers.<\/p>\n

Restrictions on access to non\u2013MiCA-compliant assets such as USDT<\/a> prompted a reallocation of liquidity. Use of EURC<\/a> from Circle jumped 2,727% between July 2024 and June 2025.<\/p>\n

\"image\"
Source: Chainalysis.<\/figcaption><\/figure>\n

European banks have also begun to explore launching their own euro stablecoins. In September, nine major financial institutions announced<\/a> the creation of a consortium to issue a MiCA-compliant \u201cstablecoin\u201d.<\/p>\n

In October, the French banking giant ODDO BHF also announced<\/a> the release of EUROD, pegged to the euro on Polygon<\/a>.<\/p>\n

Earlier, Ukraine and Russia ranked<\/a> eighth and tenth, respectively, in Chainalysis\u2019s 2025 global crypto adoption index.<\/p>\n","protected":false},"excerpt":{"rendered":"

Between July 2024 and June 2025, Russia\u2019s crypto market reached $376bn, placing it first in Europe.<\/p>\n","protected":false},"author":1,"featured_media":89996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Drivers include a DeFi boom and a surge in large institutional transfers","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[274,733,27,807,16],"class_list":["post-89995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-chainalysis","tag-europe","tag-russia","tag-stablecoins","tag-ukraine"],"aioseo_notices":[],"amp_enabled":true,"views":"355","promo_type":"1","layout_type":"1","short_excerpt":"Drivers include a DeFi boom and a surge in large institutional transfers","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=89995"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89995\/revisions"}],"predecessor-version":[{"id":89997,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/89995\/revisions\/89997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/89996"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=89995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=89995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=89995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}