In an update earlier today, global tech conglomerate Meta shared news of its latest moves surrounding digital collectibles. From September 29th, subsidiaries Facebook and Instagram will now allow users to link their virtual wallets with their accounts and also share non-fungible tokens. Users Across 100 Countries Can Access New Meta Feature Everyone on @instagram and @facebook can now share their digital collectibles in the US, and on Instagram in the previously announced 100+ countries,” Meta announced in a tweet. https://twitter.com/MetaNewsroom/status/1575486040349245446?s=20&t=TpIDHfYcRCtVRMNrwYhWiA…
According to recent reports, Europe has become the world’s largest crypto market for DeFi adoption driving investments. European countries received over $1T worth of cryptocurrency over the last year.
This figure represents about 25% of global cryptocurrency activity. Chainalysis released this report on Tuesday, as UK and Germany termed as the countries leading the adoption.
According to the report, the CNWE region accounts for almost 30% of the global crypto movement between July 2020 and June 2021. The region saw a significant uptrend in transaction volume in decentralized finance and across all crypto sub-categories.
Growing Institutional Investment
Europe’s new fame at the top spot is the result of tremendous growth starting in July 2020. Last year it ranked second. The region has now become a breeding ground for institutional investing. Transaction volumes rocketed in May. Then, the market spiked during a sharp price correction that shaved 50% from Bitcoin’s price.
Transaction values in institutional investing have grown by $46 billion in June 2021. That’s a significant increase in comparison with just $1.4 billion in July 2020. The relative decline in activity in Eastern Asia has also contributed to Europe’s growth. The United Kingdom is the leading country among the most significant crypto economies in the European region. Moreover, Britain has $170 billion worth of transactions. The figure is almost half of the value in transactions via DeFi protocols.
According to Chainalysis’ senior content marketing manager Henry Updegrave, The UK’s growth comes mainly through growing institutional investment. The sizable transfers are the ones causing most of its transaction volume.
Unmasking Digital Assets on the European Crypto Market
Analysis of 34 European states indicates that investment in Ether and wrapped Ether in every country, tokens are used to access the DeFi ecosystem. The development brings about more capital than any other market segment.
Today’s data shows that six in ten institutional investors expect to invest for the first time the following year. The US, UK, Germany, UAE, and France managers presently don’t have any exposure to digital assets.
Large institutional investors have assisted in driving the growth of the European crypto market. This way, its value rose from $1.4bn in July 2020 to over $46bn in June 2021. At this point, it made up over half of all activity. DeFi has the most capital invested by several institutional, professional investors, and retail in Europe.