By Shelly Melancon (Switzerland)
Leading blockchain analytics firm, Chainalysis has revealed that Europe is the new liveliest digital asset region following the $1tr worth of cryptocurrencies deals that occurred there over the last 12 months.
26% Of Crypto Deals Worldwide In The Last 12 Months Occurred In Europe
Today, the firm’s latest report stated that this continent is responsible for 26% of digital asset transactions worldwide between July last year and June this year. While Europe’s crypto-related transaction volume surged, the DeFi industry surged the most. By Chainalysis definition, a crypto-related transaction is any transaction with a crypto-related trade, business settlement, investment, or all three of them.
Also, within the period under review, institutional investment has risen by more than x30. The total institutional investment was $1.5B last July but $46.5B this June. Strangely, crypto transaction volume in the United Kingdom is the highest in any European nation. Almost 50% of the $175B worth of crypto transactions involved DeFi projects.
This increase in crypto transaction volume over the past 12 months was determined by the increasing interest in the DeFi space, the rising popularity of smart-contracts projects, and the bullishness of the BTC. Unsurprisingly, the peak in this continent’s crypto-economy rose to an all-time high in may this year when the crypto sector reached its first peak bull season this year.
Rising Institutional Crypto Investments Proved Again
This new data proves that various metrics have been right regarding the surge in large investment firms’ interest in the virtual currency space. While some have been direct, most of these investments have been through indirect exposure to the virtual asset industry through various digital asset investment products sold by asset management firms such as Grayscale, ARK, and Coinshares.
The chainalysis report claimed to have discovered rising crypto economies, with three Asian nations topping this rising digital currency charts. The report stated that this discovery analysis was based on the volume of retail transactions, peer exchanges, and received value.
Sixth Successive Week Of Crypto Inflows
Coinshares data has revealed that there have been successive inflows into the digital asset investment products and funds in the last one and a half months. The firm revealed that at least $96m was invested in crypto investment products. Investors are seemingly buying the dip following China’s new declaration of illegality on any crypto-related transaction.
Since the beginning of this year, investors have invested at least $6.5B into crypto investment products, with an estimated $321m invested only in the last one and half months. BTC investments remain the highest at slightly over $50m during these past six weeks. However, an on-chain data firm, Glassnode, remarked that the BTC block space has been relatively under-utilized in recent times.
It added that these same levels were last seen three years ago when the market was in a bearish season. But the firm failed to confirm whether this low utilization is a bullish or bearish sign. Similarly, ETH 2.0 staking has surged, with Coinshares estimating that 6.7% of ETH are already staked into ETH 2.0, which is a bullish sign for investors.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.