Middle East and North Africa (MENA) are 2022’s Fastest Growing Crypto Market: Chainalysis

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.

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