Thanks to the European Fashion ShOw, It Has Become the Largest Crypto Economy in the World

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According to a recent Chainalysis report, Central, Northern and Western Europe (CNWE) has become the world’s largest crypto economy. Over the past year, there have been over $ 1 trillion in cryptocurrency purchases in the region, and this amount represents 25% of all global activity. CNWE was ranked second in last year’s survey, but the tremendous growth that began in July 2020 has pushed Europe to the top this year.

On the other hand, despite the increase in individual activity, most of the transactions were directed by corporate investments, and 50% of investments DeFi’he’s gone to eat.

England Is in First Place

CNWE, all cryptocurrencies and it has experienced a huge increase in the volume of transactions on types of services, in particular DeFi protocols. According to Chainalysis, this growth was largely driven by corporate investments. As of July 2020, there has been a large increase in investments of $ 10 million and above.

June July 2021, the value of corporate crypto transactions increased from $ 1.4 billion in July 2020 to $ 46.3 billion. Dec this period, the United Kingdom had the largest crypto transaction value in Europe with $170 billion. DeFi protocols accounted for 49% of this amount. France, Germany, Dec Netherlands and Switzerland are also among the top five countries.

Growth Was Driven By DeFi

Chainalysis’ data shows that the bulk of large corporate-sized transfers in the last 12 months DeFi he revealed that he had gone to their platform. Most of these large corporate transfers were made on Ethereum.

Decentralized Finance has become a multibillion-dollar industry. The fashion sundayits popularity is also evident from corporate trends in Europe, and a similar trend is observed in the United States.

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