Chainalysis: The UAE's clear regulations create a balanced and diverse crypto ecosystem, with DeFi adoption above the global average

2024-09-26 10:11:05

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ChainCatcher message, according to a recent report by Chainalysis, the UAE is an exception, with growth trends across all scales, indicating that the country's "adoption pattern is balanced and comprehensive." Chainalysis emphasized that the UAE received over $30 billion in cryptocurrency from July 2023 to June 2024, ranking among the top 40 globally.

It added that this growth is driven by various factors, including regulatory innovation, institutional interest, and expanding market activity. The UAE's DeFi adoption rate is higher than the global average, with a significant portion of transactions conducted through DEX.

Globally, 27.8% of crypto transactions are conducted through DEX, while in the UAE, this figure is 32.4%, the highest in the Middle East and North Africa region. Compared to last year, the total value of crypto received through DeFi services in the UAE grew by 74%, while the value of tokens received through DEX increased by 87%, rising from around $6 billion to $11.3 billion.

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