According to a report by Chainalysis, CNWE (Central and Northern Western Europe) has solidified its position as a global leader in the cryptocurrency industry, with the UK emerging as a dominant force in the region. The UK leads the way in trading activity in the region, with a total cryptocurrency trading volume of $252.1 billion in the past year, ranking third globally behind the United States and India. The report shows that DeFi services account for the largest share of cryptocurrency activity in the UK, representing 54.8% of total trading volume. NFT transactions are included in the report's definition of DeFi, with NFT platforms and decentralized exchanges (DEX) playing a key role in UK cryptocurrency activity. Platforms such as OpenSea, Sorare, and Uniswap are the preferred choices for UK cryptocurrency users.
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Report: UK’s $252.1 billion crypto trading volume is dominated by DEX and NFT activity
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