According to the 2025 Chainalysis index, India and the US are among the leaders in global cryptocurrency adoption, while Nigeria has dropped to sixth place.
India Tops the Index
For the third consecutive year, India has topped the Chainalysis index due to high local adoption and integration with financial services. The young population and fintech innovations have contributed to this growth. Despite stringent tax and regulatory challenges, the cryptocurrency market in India remains vibrant.
US Rises to Second Position
The US has risen from fourth to second place, driven by regulatory clarity surrounding Bitcoin ETFs and stablecoins. The country leads in fiat on-ramping, with over $4.2 trillion in volume from July 2024 to June 2025, bolstered by significant institutional participation.
Country Rank Changes in 2025
Nigeria, which previously held the second position, has now dropped to sixth. This shift is attributed to increased institutional activity in high-income countries, such as the US, combined with the lack of necessary blockchain infrastructure in Nigeria.
The 2025 index overview indicates that the balance in the global cryptocurrency ecosystem is changing, with a focus on the growing influence of institutional investors.
