Strong increases, even in bear market – DappRadar provides an overview of the evolution of adoption of cryptocurrencies worldwide, from July to September. 3 countries stand out with an adoption rate that exploded during these bear markets.
Sustained growth for Ukraine, dominant position for the USA
According to a report dated October 27 from DappRadarl’Ukrainel’Indonesia and the Russia are the first three countries that recorded the strongest growth in cryptocurrency adoption from July to September.
To assess this adoption rate, DappRadar uses the traffic broken down by country from his site. Traffic from Ukraine jumped 143.17% over the period analyzed, compared to 115.59% and 88.28% for Russia and Indonesia respectively.
Based on the volume of traffic – and not on its variation – for the month of September, the United States stay largest crypto market. However, the rate of cryptocurrency adoption remained almost the same from July to September.
L’Inde ranks second behind the United States. DappRadar recorded an increase ofe 10,40 % traffic from India over the period.
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Adoption of cryptocurrencies: the biggest setback for Vietnam
For the month of September, Indonesia, Russia and Ukraine arrive respectively in 3thin 4th and in 5th position in this ranking in terms of traffic volume for the month of September. the UK fell one place compared to July. It now ranks in 6th positionbehind Ukraine.
On the contrary, theGermany improved its ranking. She occupies the 10th place behind Vietnam, although the country’s cryptocurrency adoption rate fell by 3.38% from July to September. the Vietnamwhose ranking has not changed over the period, is the country that recorded the biggest dropto the height of 49,30 %.
Nigeria and the Philippines, which respectively occupy the 7th et 8th positions complete the top 10 of this ranking.
The war in ukraine and the sanctions that the United States and its allies are imposing on the Russia could explain this strong growth in the rate of adoption of cryptocurrencies in these countries, from July to September. The Indonesian crypto ecosystem is growing gradually. A young local crypto exchange has, by the way, closed a series B financing round over 100 million dollars in the month of June.
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