Russia takes the European lead in crypto adoption

Russia has emerged as the dominant crypto player in the Old Continent’s expanding cryptocurrency space, overtaking the ￰0￱ the latest Chainalysis report on European crypto ￰1￱ study has registered significant growth in Europe’s “remarkably resilient” crypto assets market over the past two years, marked by comprehensive regulations taking hold across the ￰2￱ ranks first among European crypto markets Cryptocurrency adoption in Europe “highlights a patchwork of convergence and transformation,” according to Chainalysis, which published its latest report on the matter on ￰3￱ the period covered by the research, the region showed “remarkable growth and resilience,” the U.

S.-based blockchain analytics firm points ￰4￱ volumes back the claim, peaking at $234 million in December 2024, after declining earlier that ￰5￱ “robust recovery” spilled into 2025, underlining the maturity of the ￰6￱ leading 10 markets span all corners of the continent, the authors noted, “demonstrating broad-based adoption across the region.” Against this backdrop, Great Britain ceded the top spot to the Russian Federation, Chainalysis reveals and details further: “Between July 2024 and June 2025, Russia emerged as the dominant crypto market with $376.3 billion received, substantially ahead of the United Kingdom ($273.2 billion). This gap between Russia and the U.

K. — traditionally the region’s leading markets — is notably larger than in previous years.” At the same time, the difference between the ￰7￱ other major markets ￰8￱ previously smaller Germany, Ukraine, and France are seeing similar levels of crypto activity, with volumes reaching $219.4 billion, $206.3 billion, and $180.1 billion, ￰9￱ countries within the wider European region by total value received.) and Ethereum (ETH) towards stablecoins and altcoins suggests the British market is maturing. Britain’s crypto ecosystem draws its strength mainly from significant institutional engagement, Chainalysis ￰10￱ it also notes that while institutional players prefer centralized venues, retail traders increasingly favor DeFi (decentralized finance) platforms, indicating that the ￰11￱ is evolving, rather than ￰12￱ report underscores Russia’s expansion into Defi as well, pointing out that the country’s remarkable crypto volumes result from two key trends – surging institutional transfers, which grew 86%, and accelerating DeFi adoption, which saw an eight-fold increase in early ￰13￱ explains: “This rapid DeFi expansion, coupled with the increase in large-value transfers, indicates growing adoption of crypto for financial services.” It also emphasizes that the trend is exemplified by the sanctioned Russian ruble stablecoin A7A5 , used in cross-border payments by both institutions and ￰14￱ document further highlights growing DeFi activity in the rest of Europe, the influence of the Markets in Crypto Assets (MiCA) regulation that’s currently being implemented by EU member-states, as well as the rise of euro stablecoins at the expense of U.

S. dollar-pegged cryptocurrencies. “The European crypto landscape of 2024-25 reflects a market in sophisticated transition, shaped by regulatory frameworks like MiCA, evolving institutional engagement, and growing DeFi … European crypto adoption remains dynamic and resilient,” Chainalysis ￰15￱ your free seat in an exclusive crypto trading community - limited to 1,000 members.