TechFlow news, on November 1, according to Cointelegraph, Chainalysis' latest report revealed that from July 2023 to June 2024, Eastern Europe received over $499 billion in cryptocurrency, accounting for approximately 11% of global crypto transaction volume and ranking fourth worldwide in market size.
The report noted that decentralized finance (DeFi)-related activities accounted for one-third of the region's total crypto flow, exceeding $165 billion. Nevertheless, centralized cryptocurrency exchanges (CEX) remained the primary beneficiaries, receiving more than $324 billion in digital asset transactions.
Notably, Russia and Ukraine were the two largest countries in the region by crypto transaction volume, with respective volumes reaching $182 billion and $106 billion. In Ukraine, large transfers (over $10 million) and medium-sized transfers ($1 million to $10 million) by institutions and professional investors dominated transaction activity in 2024. Local exchange WhiteBIT stated that due to factors such as inflation and war-related sanctions, many institutions view cryptocurrencies as a safer investment alternative.
