Ukraine Overtakes the USA in the Number of Cryptocurrency Holders

by Olha Povaliaieva
Monday, October 4, 2021
Ukraine Overtakes the USA in the Number of Cryptocurrency Holders

The analytical company "Chainanalysis" has compiled a list of countries that received the highest profit from the sale of crypto in 2020. And Ukraine took 10th place with $400 million in earnings

'‘It is estimated that over 5.5 million people, 12.7% of Ukraine’s total population, currently own cryptocurrency,'' said Triple A, a Singaporean company that creates blockchain and cryptocurrency solutions for clients around the world, on its website.

According to data provided by Chainanalysis, there are 2 trends in the cryptocurrency market:

  • Emerging economies are at the top of the ranking. For example, the top 25 countries also include Vietnam, Thailand, Argentina, Brazil and Turkey. According to Chainanalysis analysts, this phenomenon is provoked by the country's underdeveloped investment field so far;
  • There is a massive gap between the United States and the rest of the world in terms of the total amount of income from the sale of bitcoins. Chainanalysis attributed this to significant investments in America's crypto exchanges in 2020.

“Ukrainians are very open to cryptocurrency, with Ukrainian crypto exchange Kuna reporting that small businesses might be turning around up to $5 million worth of crypto every week, while retail crypto trades total an estimated $800 thousand daily,” Triple A reports on its website.

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