By Oliver Gray
Investing.com - Fresh data from the 2021 Global Crypto Adoption Index created by crypto-analysis firm Chainalysis revealed that crypto adoption by consumers around the world surged 881% over the last year, with top adopters including Vietnam, India, Pakistan and Ukraine.
Chainalysis noted in the report, “In emerging markets, many turn to cryptocurrency to preserve their savings in the face of currency devaluation, send and receive remittances, and carry out business transactions, while adoption in North America, Western Europe, and Eastern Asia over the last year has been powered largely by institutional investment.”
Meantime, the FOMC meeting minutes released yesterday showed that Federal Reserve officials are also concerned about the potential dangers posed by cryptocurrencies, noting that “some participants cited various potential risks to financial stability including the risks associated with expanded use of cryptocurrencies.”
Bitcoin is trading 0.66% lower today to 44659, falling from 3-month highs touched last week. Ethereum is trading 0.75% lower at 3012, holding near weekly lows, while third largest coin Cardano is up 8.09% to 2.149, trading near fresh 13-week highs.