1、 The 2025 Geography of Crypto Report What regional trends reveal about whats next in crypto Table of Contents Introduction 1 Sub-Saharan Africa 13 North America 19 Latin America 26 Asia-Pacific 33 Europe 41 Full Index 52 Introduction India and the United States Lead Cryptocurrency Adoption Our Globa

2、l Crypto Adoption Index methodology The Global Crypto Adoption Index is made up of four sub-indices,each of which is based on countries usage of different types of cryptocurrency services.We rank all 151 countries for which we have sufficient data on each sub-index,weight the rankings by characteris

3、tics including population size and purchasing power,take the geometric mean of each countrys ranking in all four,and then normalize that final number on a scale of 0 to 1 to give every country a score that determines its overall ranking.The closer the countrys final score is to 1,the higher the rank

4、.To calculate our sub-indices,we estimate countries transaction volumes for different types of cryptocurrency services and protocols based on the web traffic patterns of those services and protocols websites.We acknowledge that web traffic data are imperfect,as some crypto users likely employ VPNs a

5、nd other similar tools to hide their true physical locations.However,given that our index accounts for hundreds of millions of cryptocurrency transactions and more than 13 billion web visits,it is likely that any misattributed transaction volume due to VPNs is marginal,given the size of the dataset.

6、We also compare findings with insights from local crypto experts and operators around the world,giving us more confidence in this methodology.Below are descriptions of the sub-indices and how they are calculated,as well as improvements in our methodology since last year.Sub-index category 1:on-chain