Brazil Surges Past US and India in Global Crypto Adoption Ranking

Brazil surpassed the US and India to take the top spot in Chainalysis' global crypto adoption ranking for the first time, despite the crypto market capitalization roughly halving over the year.

The country didn't rank first in any individual category, but placed in the top four across all four measures: second in cross-border transfers, third in crypto service inflows, third in domestic P2P transfers and fourth in on-chain balances. Brazil's crypto economy reached $252.5 billion over the 12 months ending June 30, while the US ranked first in both service inflows and balances, but only 11th in cross-border transfers and 20th in domestic P2P activity.

The new Chainalysis methodology played a key role in Brazil's success. The company evaluates 117 countries across four indicators, adjusts the results for purchasing power, and then rescales them from 0 to 1. The final score is calculated using a geometric mean, so a strong result in one category cannot fully offset weak performance in others.