The USA rose from fourth to second place among 151 countries included in Chainalysis' 'Cryptocurrency Adoption Index' for the year from July 2024 to June 2025. The increase was 49%, with India remaining in first place, as it was a year ago.
Chainalysis' chief economist Kim Grauer explained in an interview with Cointelegraph that the methodology for calculating the GCAI index takes into account the volumes of cryptocurrency transactions obtained through centralized crypto platforms and DeFi protocols, adjusted for gross domestic product per capita based on purchasing power parity. Private trader activity is measured by the number of transactions up to $10,000, while corporate activity is measured for amounts over $1 million.
For the USA and India, the main reasons for the index growth were progress in the regulation of digital assets and the launch of useful cryptocurrency services for people.
'The main factor is utility: whether it’s stablecoins or other assets used for money transfers, savings in inflation-affected economies, or decentralized applications that meet user needs,' explained Kim Grauer.
In addition to the USA and India, the top five also included Pakistan, which jumped six positions, as well as Vietnam and Brazil.
According to data from the Chainalysis analytical platform, in June, participants in the Russian cryptocurrency market increased their investments in digital assets to $25.4 billion, equivalent to 2.3 trillion rubles.
