The Middle East and North Africa (MENA) was the fast growing market for crypto adoption the 12-month period leading up to June 2022, according to blockchain analytics firm Chainalysis.
MENA-based users received $566 billion in cryptocurrency between July 2021 and July 2022, a 48% increase compared to the previous year.
This growth compares to increases of 40%, 36% in North America and 35% in Central and Southern Asia.
The largest increase in percentage terms was in Egypt, where crypto transaction volumes more than tripled.
Turkey accounted for $192 billion of the MENA’s total of $566 billion, the largest share by one single country in the region.