{"id":5872,"date":"2023-10-24T08:35:08","date_gmt":"2023-10-24T08:35:08","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5872"},"modified":"2023-10-24T10:15:42","modified_gmt":"2023-10-24T10:15:42","slug":"chainalytics-north-america-world-champion","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/chainalytics-north-america-world-champion\/","title":{"rendered":"Chainalytics: “North America Is World Champion”"},"content":{"rendered":"

Chainalytics<\/strong> according to the newly published report, the US, between July 2022<\/strong> and June 2023<\/strong> with more than 1 trillion dollars<\/strong> in trade volume, it has the largest crypto money activity in the world.<\/p>\n

In a blog post, Chainalytics stated that 76.9% of<\/strong> the trading volume in the region consisted of transfers of 1 million dollars or more, indicating that there are large institutional investors.<\/p>\n

As expected, activities in the region shrank after the FTX<\/strong> exchange crash.<\/p>\n

But regulators closed down Silicon Valley Bank in March during the banking crisis, and this appeared to be a smaller shock. They took actions against banks that were friendly to crypto, such as Silvergate and Signature, following this move.<\/p>\n

Chainalytics;<\/p>\n

“On-chain activities are starting to accelerate again from June. Transaction size data shows that the main cause of the overall decline in activity is withdrawal from institutional investors, such as retail users and sub professionals.”<\/strong><\/p>\n

You might like: The Latest Status in Bitcoin and Cryptocurrencies! \u2013 24 October<\/strong><\/em><\/a><\/p><\/blockquote>\n

Stablecoin Usage<\/h2>\n

The banking shock experienced may reduce stablecoin usage in North America. According to Chainalytics, stablecoin usage fell from 70.3% of<\/strong> the on-chain transaction volume in the region to 48.8%<\/strong> last year. The market value of the sector saw the lowest level of the last two years.<\/p>\n

Chainalytics<\/strong> also said that stablecoin activity is moving away from US licensed services. The report reveals that licensed exchanges outside the US have received the majority of the stablecoins currently in trade.<\/p>\n

Chainalytics<\/strong> said, “There are strong interests of US regulators to use some regulatory powers over stablecoins, considering the central role of US dollar reserves for these assets<\/strong>“.<\/p>\n

“Regulating Stablecoin also gives regulators a chance to help host crypto businesses in the US, which will play a major role as the digital economy continues to grow in expanding how the US dollar is used globally. However, the data shows more and more. More stablecoin activity is happening through unlicensed organizations in the United States.<\/strong>” said.<\/p>\n

\n

In the comment section, you can freely share your comments and\u00a0 opinions about the topic. Additionally, don\u2019 t forget to follow us on\u00a0Telegram<\/strong>,\u00a0<\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a> for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Chainalytics according to the newly published report, the US, between July 2022 and June 2023 with more than 1 trillion dollars in trade volume, it has the largest crypto money activity in the world. In a blog post, Chainalytics stated that 76.9% of the trading volume in the region consisted of transfers of 1 million<\/p>\n","protected":false},"author":2,"featured_media":5871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1588,2081,496,488],"class_list":["post-5872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-trillion-usd","tag-chainalytics","tag-ftx","tag-stablecoin"],"yoast_head":"\nChainalytics: "North America Is World Champion" - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Chainalytics reported that, the US had the world's largest crypto activity with over $1 trillion trade volume from July 2022 to June 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/chainalytics-north-america-world-champion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chainalytics: "North America Is World Champion" - 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