In 2023, Singapore ranked 77th in the world in terms of crypto adoption, indicating a slight decrease compared to the previous year. The country scored highest at on-chain retail value received at centralized exchanges.
Crypto adoption index ranking of Singapore from 2020 to 2023, by metric
Rank of individual weighted metrics feeding into index
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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Chainalysis, & Statista. (October 2, 2023). Crypto adoption index ranking of Singapore from 2020 to 2023, by metric [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1468448/cryptocurrency-adoption-index-singapore/
Chainalysis, und Statista. "Crypto adoption index ranking of Singapore from 2020 to 2023, by metric." Chart. October 2, 2023. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1468448/cryptocurrency-adoption-index-singapore/
Chainalysis, Statista. (2023). Crypto adoption index ranking of Singapore from 2020 to 2023, by metric. Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1468448/cryptocurrency-adoption-index-singapore/
Chainalysis, and Statista. "Crypto Adoption Index Ranking of Singapore from 2020 to 2023, by Metric." Statista, Statista Inc., 2 Oct 2023, https://www.statista.com/statistics/1468448/cryptocurrency-adoption-index-singapore/
Chainalysis & Statista, Crypto adoption index ranking of Singapore from 2020 to 2023, by metric Statista, https://www.statista.com/statistics/1468448/cryptocurrency-adoption-index-singapore/ (last visited December 03, 2024)
Crypto adoption index ranking of Singapore from 2020 to 2023, by metric [Graph], Chainalysis, & Statista, October 2, 2023. [Online]. Available: https://www.statista.com/statistics/1468448/cryptocurrency-adoption-index-singapore/
