Ukraine Surges Past India as Top Cryptocurrency User Per Capita

Ukraine has emerged as the country with the highest per capita use of cryptocurrency globally. According to Chainalysis' Global Crypto Adoption Index, Ukrainians rank eighth in terms of the spread of crypto-assets but top the list when adjusted for population size.

The total transaction value linked to Ukraine on the blockchain analysis firm's estimates came to around $206.3 billion over the year, representing a 52% increase from previous years.

Oleksiy Semenyuk, head of the National Securities and Stock Market Commission (NSSMC), attributed the ranking to the scale and permanence of cryptocurrency use in Ukraine since the invasion, with households and volunteer fundraisers increasingly using crypto rails at speed.