UNCTAD report: Since the outbreak of the new crown epidemic, the cryptocurrency ecosystem has expanded by 2300%

[United Nations Conference on Trade and Development Report: Since the outbreak of the new crown epidemic, the cryptocurrency ecosystem has expanded by 2300%] On August 13, a report by the United Nations Conference on Trade and Development (UNCTAD) showed that the proportion of cryptocurrency holders in India is the highest in the world. Ranked seventh on the list, about 7.3% of Indians own cryptocurrencies in 2021.

Among the top 20 economies with digital currency holders as a percentage of population in 2021, India is behind the US (8.3%).

Ukraine topped the list with 12.7%, followed by Russia and Venezuela with 11.9% and 10.3% respectively. Singapore (9.4%) and Kenya (8.5%) rank higher than the US.

As many as 15 of the top 20 economies are developing and emerging market economies. The report highlights that after the outbreak of the new crown epidemic in 2019, the use of cryptocurrencies around the world has grown exponentially.

According to UNCTAD, the cryptocurrency ecosystem expanded by 2,300% between September 2019 and June 2021, especially in developing countries. (The Hindu Business Line)

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