According to him “Global Adoption Index DeFi” published by the analysis firm blockchain Chainalysis, Argentina it ranks 16th out of 154 countries around the world.
The new Chainalysis index, like its cryptocurrency adoption index, presents the ranking of countries based on their highest base adoption, and includes the top twenty nations that have adopted this platform, as well as the transactions that drive greater adoption of DeFi globally.
Argentina is among the top twenty countries in the study, While Brazil is below the country South American, ranking 17th, being the only countries of Latin America that are reflected in the study carried out by Chainalysis.
As in the cryptographic adoption index, where Argentina was located in the first 10 nations of the study, the region once again positioned itself within the first countries mentioned in the analyzes published by the firm, this time being within the top 20 of the selected countries, proving to be a key player driving increased interest in DeFi.
The report details data showing the ranking of 154 countries around the world evaluated based on three key component metrics: value of cryptomoney On-chain received by DeFi platforms by PPP per capita, total retail value received by DeFi platforms, individual deposits to DeFi platforms. These metrics seek to balance total DeFi activity with the activity of high-income people in richer countries.
In this context, the firm explains that the methodology weights the final score of 1 for each of the proposed metrics, to suggest “the countries with the highest base adoption by individuals, instead of those that send the gross values of larger funds ”
“We calculate the metric by estimating the total cryptocurrency received by the DeFi protocols from users in a given country and weighting the chain value based on the PPP per capita, which is a measure of the country’s wealth per resident,” the firm explains. , adding that, “The higher the relationship between the chain value received and the PPP per capita, the higher the ranking, which means that if two countries send equal amounts to the DeFi protocols, the country with the PPP per capita more low would occupy the first place, “he added in his statement.
In this sense, the initial categorization shows that DeFi, according to Chainalysis, visualizes that this platform is popular in those countries that show high levels of adoption and use of cryptocurrencies among their merchants and investors.
Top 20 The Global DeFi Adoption Index 2021
According to the study carried out by Chainalysis, the countries that lead the ranking in the adoption of base DeFi, are those that tend to have high crude volumes of value of moved cryptocurrencies, such as the United States, China, Vietnam, the United Kingdom and several Western European countries, It is also shown that the platform is much more popular with larger investors, due to the size of the transactions, which represent a much larger part of DeFi activity, compared to the cryptocurrency as a whole.
Furthermore, it is mentioned that 60% of DeFi transactions in the second quarter of 2021, they were considered as large “institutional transactions ” for exceeding $ 10 million in USD, this compared to less than 50% for all cryptocurrency transactions.
Another of the findings found in the analysis has been, that for that same period of time, also, professional transactions, large and small retailers, accounted for a high percentage of all cryptocurrency activity compared to DeFi activity. In addition, it is reflected that countries with the highest DeFi activity are those that historically have the markets larger institutional and professional.
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