Ukraine ranks first in the world in terms of cryptocurrency activity among the population

Ukraine has been ranked first in the world in terms of crypto activity relative to population, according to a new Chainalysis report for 2025. The country was ranked eighth in the overall ranking, ahead of a number of regions with higher transaction volumes.

The study covered 151 countries and took into account activity in centralized services, DeFi, institutional transactions, and retail use. Along with Ukraine, Moldova and Georgia appeared on the list. Analysts explain this dynamic by a combination of economic instability, distrust of traditional financial institutions, and high technical literacy of the population.

The leader of the overall index is India, ahead of the United States and Pakistan. The top ten also includes Vietnam, Brazil, Nigeria, and Ukraine. In the United States, the high score is attributed to the launch of spot bitcoin ETFs and increased regulatory certainty.

The report emphasizes the rapid growth of activity in the Asia-Pacific region, up 69% year-on-year, with India, Vietnam, and Pakistan making the largest contributions. Latin America added 63%, and Sub-Saharan Africa 52%. At the same time, North America and Europe remain the leaders in terms of absolute transaction volumes — $ 2.2 trillion and $ 2.6 trillion, respectively.

A significant role in the global dynamics is played by stablecoins. Demand for EURC increased by 89% monthly after the introduction of the MiCA regulation in the EU, while PYUSD reached a turnover of $ 3.95 billion. According to Messari, the stablecoin market has exceeded $ 250 billion, and major financial players such as Stripe, Mastercard, Visa, and Citigroup are integrating them into their services.