Central, Northern, and Western Europe (CNWE) is reported to have grown into the world’s largest crypto asset economy since July 2020. The region has experienced a huge surge in trading activity since that date especially in the DeFi sector.
Based on data from Chainalysis shows that CNWE received more than $ 1 trillion in the kritpo market over the past year alone. This represents 25% of global trade activity. In other words, this CNWE has a dominance of 25% of all crypto market values received from other regions.
This makes the EU one of the focal points in the world in terms of the volume of crypto trade. The success factor in this is due to the increase in all forms of trading activity over the past year, which mostly came from institutional investors.
The value of large institutional transactions increased from $ 1.4B in July 2020 to $ 46.3B in June 2021, accounting for half of all CNWE’s crypto trading activities. The most significant increase came from the DeFi sector, where more than 80% of transactions the largest institution in June was from DeFi.
On the other hand there is a downward trend for east Asia in crypto trading volume. In early 2019 the region accounted for more than 30% of total global transactions.However, it was unsustainable due to continued preventive measures from China.
China in the middle of this year had announced crackdowns on crypto that banned crypto trading from operating.
