According to Chainalysis's annual crypto adoption index, India remains the global leader in cryptocurrency for the third consecutive year.
Indexing Methodology
Chainalysis studied 151 countries based on four key indicators:
- Crypto value received by centralized exchanges. - Retail crypto transactions conducted by centralized services. - Crypto value received through decentralized finance (DeFi) protocols. - Crypto value received by institutions through centralized exchanges.
Each part of the index was adjusted based on a country’s income (GDP per person), which highlighted not only where crypto is popular but also where it is actively integrated into financial systems.
Regional Growth in Crypto Activity
India ranked first across all categories, reflecting strong everyday use and growing ties with financial services. The U.S. placed second, driven primarily by institutional investors and supportive regulations. Pakistan, Vietnam, and Brazil comprised the top five, emphasizing the role of remittances and rising institutional interest in cryptocurrency.
The Asia-Pacific region was the fastest-growing, with crypto activity jumping 69%, while Latin America grew by 63%.
Impact of Stablecoins and Bitcoin
Stablecoins remain central to global crypto usage, with Tether (USDT) processing over $1 trillion monthly and USDC recording $3.29 trillion in volume. New entrants like the euro-pegged stablecoin EURC and PayPal's PYUSD are gaining traction, especially in Europe.
Bitcoin, however, remains the primary entry point into cryptocurrency. From mid-2024 to mid-2025, people purchased over $4.6 trillion worth of Bitcoin using fiat currency, more than twice the amount of any other asset.
India continues to hold its position at the top of the global cryptocurrency market, attracting both individual users and institutional investors. This growing maturity of the crypto market indicates an active integration of crypto assets into financial systems.
