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Vietnam Tops in Digital Assets Adoption Again

The crypto winter has slowed down the digital asset adoption rate in the last 12 months, according to the new research, “The 2022 Global Crypto Adoption Index,” by Chainlysis. However, the numbers are still higher than before the bull market.

Vietnam, 2021’s frontrunner, took the top spot back, followed by the Philippines and war-torn Ukraine. Surprisingly, China returned to the top 10 after its decline in 2021, followed by the crypto prohibition.

China’s Rebounce

The worldwide adoption rate of digital assets slowed in the middle of 2019. Vietnam scored 100 when the organization applied its ranking methodology to 154 nations. One reason for the country’s second straight win is South East Asia’s significant interest in blockchain-based gaming.

Twenty-one percent of Vietnamese consumers have used or owned digital assets at some point in their life. Nigeria has the highest percentage of people (32%) who use bitcoin or an alternative.

The Philippines stands second on “The 2022 Global Crypto Adoption Index,” scoring 0.753, followed by Ukraine (0.694). The serious disruption of the Ukrainian economy due to the armed war with Russia has led to locals opting to deal in digital currencies instead of currency.

The United States and the United Kingdom, nations with high per capita income, made it to the list of top performers at number five and seventeen, respectively.