The sixth annual global cryptocurrency adoption index, recently released by the organization “Chainalysis,” ranked Morocco 24th worldwide with a score of 0.142 points, and first in North Africa, followed by Egypt in 26th place and Algeria in third. Tunisia and Libya ranked 52nd and 128th respectively.

The index report highlighted countries where cryptocurrency usage is becoming entrenched and explored the reasons people worldwide are adopting it. India ranked first globally, followed by the United States and Pakistan. Nigeria led the African countries, placing sixth globally, followed by Ethiopia in 12th place.

Chainalysis noted that the total volume of cryptocurrency transactions in the Asia-Pacific region rose from $1.4 trillion to $2.36 trillion, driven by strong activity in key markets such as India, Vietnam, and Pakistan. Cryptocurrency use in Latin America grew by 63%, reflecting increased adoption across various sectors, especially retail.

Similarly, cryptocurrency usage in Africa grew by 52%, indicating a broad shift in momentum towards the Global South, where practical services increasingly support adoption.

North America and Europe continue to dominate the market in terms of value, with investments exceeding $2.6 trillion each last year. This 49% growth reflects rising institutional interest in cryptocurrencies, supported by the launch of spot Bitcoin ETFs and increased regulatory clarity.

The United States is the largest digital currency market globally, with a total volume exceeding $4.2 trillion, followed by South Korea with over $1 trillion, while the European Union recorded just under $500 billion.

Bitcoin holds the lion’s share of total digital currency purchases, especially in the UK and EU. South Korea shows a more diversified digital currency market, with Bitcoin accounting for a smaller share. These differences reflect varying investor behaviors, trading preferences, and access to alternative digital assets upon entering the crypto market.

Eastern European countries, including Ukraine, Moldova, and Georgia, top the list of nations with intensive cryptocurrency use. Economic uncertainty and distrust in traditional financial institutions across the region have boosted crypto adoption. These factors combined make cryptocurrencies an attractive alternative for wealth preservation and cross-border transactions, especially in countries facing inflation, war, or banking restrictions.