Summary
- Russia reportedly took first place in Europe in crypto adoption, overtaking the UK and Germany.
- From July 2024 to June 2025, institutional trading volume surged 86% year on year, reaching twice the European average.
- DeFi usage also expanded more than eightfold, indicating crypto use in Russia is spreading across financial services and beyond.
Russia has overtaken the UK and Germany to rank first in crypto adoption in Europe.
On the 17th (local time), Chainalysis released the 'European Crypto Adoption Report', which showed that Russia received a total of $376.3 billion worth of crypto assets from July 2024 to June 2025, emerging as the largest market in Europe.
This figure represents a 48% increase from the previous year ($256.5 billion) and is about 30% more than the UK, which recorded $273.2 billion.
The report stated that the increase in crypto trading in Russia was particularly pronounced in the institutional sector. Large transactions of $10 million or more surged 86% year on year, which is double the European average increase (44%). In the small retail investor sector, Russia's growth rate was also about 10% higher than other European countries.
Chainalysis said, "Russia's DeFi usage surged more than eightfold as of early 2025," adding, "This indicates that the use of crypto across financial services is rapidly spreading."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
