Annual crypto adoption development in the U.S. 2020-2023, by metric

Published by
Raynor de Best,
Nov 9, 2024
Between 2020 and 2023, a country ranking that estimates crypto adoption based on transaction volume consistently placed the U.S. in the top 10 of the world. The figure for 2022, especially, stands out as it broke a declining trend in 2021 and was likely caused by the change of the methodology to now include Decentralized Finance (DeFi) in the index. For example, the United States ranked second in the world when it comes to on-chain retail value received from DeFi protocols - or consumers who were buying certain DeFi protocols. This may refer to the growing use of OpenSea and other Web3 wallets within the U.S. particularly in the first months of 2022.

Crypto Adoption Index ranking of the United States from 2020 to 2023, by metric

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Sources

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Release date

October 2023

Region

United States

Survey time period

July 2020 to June 2023

Special properties

Ranking (1 = highest, 146 = lowest); Weighted by purchasing power parity (PPP) per capita

Supplementary notes

All figures have been collected by Statista.

The source explains that its index is calculated using five different sub-indices, which are estimated using an individual country's cryptocurrency transaction volume in different situations. These estimates are based off web traffic patterns from individual websites that are used for such transactions and/or protocols.

Several changes were made to the source's methodology over the years. In 2022, the main change involved the inclusion of Decentralized Finance (DeFi) transaction volume. Centralized and Decentralized sub-indices both count equally to the overall index.

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Market share

7

Penetration

8

Biggest brands

8

Users

8

Transaction value

6

Number of transactions

7

Miscellaneous

5

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