• About
Friday, January 27, 2023
No Result
View All Result
TrueDeFiNews
  • Home
  • Interviews
  • Home
  • Interviews
No Result
View All Result
TrueDeFiNews
No Result
View All Result
Home News

US Leading Global DeFi Adoption With China, Vietnam, UK Close Behind

by TrueDeFiNews
August 25, 2021
in News
0
DeFi_USA
0
SHARES
142
VIEWS
Share on FacebookShare on Twitter

According to a study from Chainalysis, the United States of America is leading the global race on DeFi adoption. As per the survey, the United States has an index score of 1, while Vietnam, Thailand, the United Kingdom, China, and India are close behind. China holds the fourth position in the overall index ranking and has an index score of 0.62. The top position being held by the US does not come as a surprise, though. In the past couple of years, the US economy has witnessed the transition towards DeFi-friendly practices and standalone product/service launches.

However, the relatively higher performance from Thailand, Vietnam, the UK, and China cannot be ignored either. The transition from high and medium-income countries indicates that investors in these regions are looking at Decentralized Finance as the future of investment and money movement. The study from Chainalysis also noticed that the popularity of DeFi platforms in Eastern Europe, Eastern Asia, Central and Southern Asia, and Africa has skyrocketed in the past year, especially after July 2020. On the other hand, the US has witnessed a steady growth of DeFi spaces for the past few years.

Diversifying Crypto-asset Investments

Although experts have different opinions while explaining the high adoption rates of DeFi platforms and services, they all agree that cryptocurrency investors want to diversify their portfolios to the fullest. At this point, the potential offered by DeFi platforms is endless, providing fixed and non-fixed income options to customers. In the United States market, investors seem to have shown increasing interest in services and products that use blockchain technology, smart contracts, and other DeFi-related actions. It is also worth noting that many countries with high adoption rates have plans to give institutional approval for DeFi-based solutions and crypto-assets.

A deeper look at the matter exposes a few unexplored aspects, though. For instance, David Gogel, the Growth Lead at a popular DeFi protocol named dYdX, says that DeFi space today is attracting people who are already active in the crypto space. That is, the high adoption rate is accounted for by people who have already invested in blockchain-based assets but want to expand their wealth into a service-focused space. It also indicates that the number of people getting started with decentralized apps or DApps in each country could differ. The study also clarifies that even the countries with mainstream cryptocurrency market presence are yet to join the DeFi space in full swing.

A Potential DeFi Disruption

DeFi platforms use blockchain, smart contract, and other cryptography-based techniques to offer various financial services, including but not limited to trading, savings, derivatives, and conventional lending-borrowing. It remains to be seen whether the increasing adoption rates of DeFi services can pilot the disruption, especially considering that many governments are yet to give a clean chit to blockchain-based technologies, citing the potential security/privacy reasons.

TrueDeFiNews

TrueDeFiNews

TrueDeFiNews is a one-stop platform offering intelligent, well-researched and engaging coverage of the crypto multiverse shaping up by the day.

Next Post
Polkadot-DOT-price-today

Polkadot (DOT) Gains Value Following Its Strengthened DeFi Options

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Facebook-funded crypto project declares sell-off after facing regulatory opposition

Facebook-funded crypto project declares sell-off after facing regulatory opposition

12 months ago
Crypto Crash Aftermath: it’s a continued week of sell-offs

Crypto Crash Aftermath: it’s a continued week of sell-offs

12 months ago

Popular News

    Newsletter



    Category

    • Bitcoin
    • blockchain
    • Cryptocurrency
    • cryptography
    • Cryptowire
    • decentralized finance
    • facebook
    • Gaming
    • India
    • Interviews
    • metaverse
    • News
    • Opinion
    • RBI
    • Regulations
    • Scandal
    • UK
    • US

    About Us

    TrueDeFiNews is a one-stop platform offering intelligent, well-researched and engaging coverage of the crypto multiverse shaping up by the day.

    • About

    No Result
    View All Result
    • Home