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Eastern Europe’s Crypto Craze: How War-Torn Countries Are Suddenly Swapping Ammo for Altcoins

A stylized illustration depicting a mix of war-torn cityscapes and cryptocurrency-related elements such as computers, servers, and cryptic code in the background, with people from Eastern European countries holding various cryptocurrencies like Bitcoin and Ukrainian hryvnia coins in their hands, amidst a chaotic yet hopeful atmosphere.

It’s not like Eastern Europe is some kind of crypto utopia or anything (although, if it is, send help), but according to a new report from Chainalysis, the region has somehow managed to become the fourth-largest cryptocurrency market in the world. Because what every war-torn country needs is more Bitcoin and DeFi activity.

Source: cointelegraph

Decentralized finance-related activity is increasing in Eastern Europe, showcasing continued cryptocurrency adoption, according to the onchain analytics platform Chainalysis. Eastern Europe received over $499 billion worth of cryptocurrency between July 2023 and June 2024. Decentralized finance (DeFi) activity accounted for a third of the region’s crypto value flow, totaling more than $165 billion, according to the Oct. 30 Chainalysis crypto adoption report. Total value received by region by type of […]

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