The latest report from blockchain analysis company Chainalysis, titled "2025 Global Crypto Adoption Index," shows that India has retained the title of the highest crypto adoption rate in the world for the second consecutive year, while the United States has jumped to second place thanks to regulatory progress and institutional participation. The report also notes that the Asia-Pacific region (APAC) has seen a 69% surge in on-chain transaction volume over the past year, making it the fastest-growing crypto market in the world, with India, Vietnam, and Pakistan as the driving forces behind this wave.
India Tops Global Crypto Adoption Rankings
According to the Chainalysis report, India significantly leads other countries in retail centralized services, institutional-grade services, and DeFi activity value indicators, demonstrating that its crypto market has a high level of maturity and diverse application scenarios.
This is India ranking first in the world for the second consecutive year, reflecting the country's deep penetration in the fields of remittances, digital asset investments, and Web3 innovation. Analysts point out that India's large young population structure, digital payment infrastructure, and demand for US dollar stablecoins are key factors driving its crypto adoption rate to continue climbing.
US regulation and ETF boost adoption rate surge
The United States' global ranking in 2025 rose from last year's fourth place to second place, which Chainalysis attributes to two main drivers:
Regulatory Clarity - A clearer compliance framework reduces the barriers for institutions and retail investors to enter the market.
Spot Bitcoin ETF launch - attracted a large influx of traditional capital, driving on-chain volume in North America to grow by 49% year-on-year, with a total surpassing 2.2 trillion USD.
The Asia-Pacific region becomes the global encryption growth engine
In the 12 months leading up to June 2025, the total on-chain transaction volume in the Asia-Pacific region surged from $1.4 trillion to $2.36 trillion, with an annual growth rate of up to 69%, making it the fastest-growing market in the world.
India, Vietnam, and Pakistan are the three main core growth engines in the region, further solidifying the position of the Asia-Pacific in the global crypto landscape.
The report indicates that growth in the Asia-Pacific region mainly comes from:
Cross-border remittance demand - Stablecoins become an alternative to the US dollar, facilitating capital flow.
Mobile-first financial services - Meeting the digital financial needs of users in emerging markets.
DeFi and Web3 application penetration - providing low-threshold investment and yield opportunities.
Europe is steadily expanding, forming a tripartite balance with North America and the Asia-Pacific
Although the Asia-Pacific region has the fastest growth, Europe and North America remain the leaders in global trading volume.
Europe: on-chain volume increased by 42% year-on-year, reaching a total of $2.6 trillion, indicating steady growth despite a high base.
North America: Driven by favorable ETF and regulatory conditions, the volume surpassed 2.2 trillion dollars, forming a competitive landscape alongside the Asia-Pacific region.
Analysts believe that the future global crypto market will present a tripolar pattern of "rapid growth in Asia-Pacific, stable expansion in Europe, and system-driven development in North America," while India's leading position in the Asia-Pacific will be further consolidated.
Conclusion
Chainalysis data reveals a clear trend: Crypto Assets are transitioning from early speculative assets to practical applications in various scenarios such as remittances, payments, investments, and DeFi. India's dominance and the rapid growth in the Asia-Pacific region mean that emerging markets will lead the pace of global crypto adoption in the coming years. For investors, understanding this geopolitical and structural change may be key to the next crypto bull market.
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Chainalysis: India's encryption adoption rate ranks first in the world, with a 69% surge in volume in the Asia-Pacific region.
The latest report from blockchain analysis company Chainalysis, titled "2025 Global Crypto Adoption Index," shows that India has retained the title of the highest crypto adoption rate in the world for the second consecutive year, while the United States has jumped to second place thanks to regulatory progress and institutional participation. The report also notes that the Asia-Pacific region (APAC) has seen a 69% surge in on-chain transaction volume over the past year, making it the fastest-growing crypto market in the world, with India, Vietnam, and Pakistan as the driving forces behind this wave.
India Tops Global Crypto Adoption Rankings
According to the Chainalysis report, India significantly leads other countries in retail centralized services, institutional-grade services, and DeFi activity value indicators, demonstrating that its crypto market has a high level of maturity and diverse application scenarios.
This is India ranking first in the world for the second consecutive year, reflecting the country's deep penetration in the fields of remittances, digital asset investments, and Web3 innovation. Analysts point out that India's large young population structure, digital payment infrastructure, and demand for US dollar stablecoins are key factors driving its crypto adoption rate to continue climbing.
US regulation and ETF boost adoption rate surge
The United States' global ranking in 2025 rose from last year's fourth place to second place, which Chainalysis attributes to two main drivers:
Regulatory Clarity - A clearer compliance framework reduces the barriers for institutions and retail investors to enter the market.
Spot Bitcoin ETF launch - attracted a large influx of traditional capital, driving on-chain volume in North America to grow by 49% year-on-year, with a total surpassing 2.2 trillion USD.
The Asia-Pacific region becomes the global encryption growth engine
In the 12 months leading up to June 2025, the total on-chain transaction volume in the Asia-Pacific region surged from $1.4 trillion to $2.36 trillion, with an annual growth rate of up to 69%, making it the fastest-growing market in the world.
India, Vietnam, and Pakistan are the three main core growth engines in the region, further solidifying the position of the Asia-Pacific in the global crypto landscape.
The report indicates that growth in the Asia-Pacific region mainly comes from:
Cross-border remittance demand - Stablecoins become an alternative to the US dollar, facilitating capital flow.
Mobile-first financial services - Meeting the digital financial needs of users in emerging markets.
DeFi and Web3 application penetration - providing low-threshold investment and yield opportunities.
Europe is steadily expanding, forming a tripartite balance with North America and the Asia-Pacific
Although the Asia-Pacific region has the fastest growth, Europe and North America remain the leaders in global trading volume.
Europe: on-chain volume increased by 42% year-on-year, reaching a total of $2.6 trillion, indicating steady growth despite a high base.
North America: Driven by favorable ETF and regulatory conditions, the volume surpassed 2.2 trillion dollars, forming a competitive landscape alongside the Asia-Pacific region.
Analysts believe that the future global crypto market will present a tripolar pattern of "rapid growth in Asia-Pacific, stable expansion in Europe, and system-driven development in North America," while India's leading position in the Asia-Pacific will be further consolidated.
Conclusion
Chainalysis data reveals a clear trend: Crypto Assets are transitioning from early speculative assets to practical applications in various scenarios such as remittances, payments, investments, and DeFi. India's dominance and the rapid growth in the Asia-Pacific region mean that emerging markets will lead the pace of global crypto adoption in the coming years. For investors, understanding this geopolitical and structural change may be key to the next crypto bull market.