(Courtesy: Pixabay)The United States tops the list of Global DeFi Adoption Index released by blockchain data platform Chainalysis.The top 10 countries on the list include Vietnam, Thailand, China, United Kingdom, India, Netherlands, Canada, Ukraine, and Poland.DeFi, short for \u2018Decentralized Finance,\u2019 refers to decentralized cryptocurrency platforms that do not rely on central financial intermediaries.Read: Cardano approaches ATH, could it hit $3 to $5 post-Alonzo hard fork?\u201cDeFi platforms are protocols built on top of smart contract-enriched blockchain-primarily the Ethereum network \u2014 and can fulfill specific financial functions determined by the smart contracts\u2019 underlying code,\u201d Chainalysis explained in the report.The DeFi space has witnessed unprecedented growth over the last 18 months. The market capitalization of DeFi, according to CoinMarketCap, stands at $125 billion, with a trading volume of $18 billion in the last 24 hours.154 countries were part of the DeFi Adoption Index and ranked according to three metrics: Component 1: On-chain cryptocurrency value received by DeFi platforms weighted by PPP per capita.Component 2: Total retail value received by DeFi platforms.Component 3: Individual deposits to DeFi platforms.(Source: Chainalysis Global DeFi Adoption Index)The Chainalysis\u2019 Global DeFi Adoption Index ranks countries based on their grassroots DeFi adoption. What stands out, according to the report, is that many of the countries ranking highest in grassroots DeFi adoption are those with high raw volumes of cryptocurrency value moved, both currently and historically. These tend to be middle to high-income countries or countries with already-developed cryptocurrency markets, and in particular strong professional and institutional markets.Read: Staking vs Yield Farming: What\u2019s the best way to earn passive income?\u201cLarge institutional transactions, meaning those above $10 million in USD, accounted for over 60% of DeFi transactions in Q2 2021, compared to under 50% for all cryptocurrency transactions,\u201d the data highlighted.(Source: Chainalysis Global DeFi Adoption Index)(Source: Chainalysis Global DeFi Adoption Index)The Global\u2026<\/p>","protected":false},"excerpt":{"rendered":"
(Courtesy: Pixabay)The United States tops the list of Global DeFi Adoption Index released by blockchain data platform Chainalysis.The top 10 countries on the list include Vietnam, [...]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts\/5202"}],"collection":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/comments?post=5202"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/posts\/5202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/media?parent=5202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/categories?post=5202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/ar\/wp-json\/wp\/v2\/tags?post=5202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}