According to the 2021 Global Crypto Adoption Index, India ranks second in terms of crypto adoption worldwide behind Vietnam, but ahead of countries such as the US, UK, and China.
- India was followed by Pakistan and Ukraine at rank three and four respectively. The US and China’s ranking dipped from 6th to 8th and from 4th to 13th respectively.
- The index was released by the blockchain data platform Chainalysis.
- The worldwide adoption of cryptocurrency has grown by over 2,300% since the third quarter of 2019 and over 881 percent in the last year.
- The ranking was based on three metrics including peer-to-peer (P2P) exchange trading volume and value received.
