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Nov 29, 2023 15:28
The cryptocurrency market in the United Kingdom has taken the leading position in Europe.
The annual volume of cryptocurrency transactions in the United Kingdom has exceeded $252 billion, marking the highest figure in Europe and among most other countries. In the global ranking, the United Kingdom is surpassed only by the United States and India.
The Central, Northern, and Western Europe (CNWE) region, which includes the United Kingdom, collectively represents the second-largest crypto economy in the world. Its share in transaction volume accounts for 17.6% of the overall value of approximately $5.7 trillion. The United States leads the crypto world with a market volume of over $1 trillion.
Among the leading countries in CNWE in terms of digital asset activity are Germany, Spain, France, the Netherlands, and Italy. Decentralized finance (DeFi) has become the most popular category of services for users, comprising over half of the total volume.
According to user activity analysis on the Henbbo platform, British investors typically opt for more lucrative Deluxe and Premium plans as a viable alternative to the low returns of savings and traditional investments.
After the decline in the popularity of NFTs, many investors are turning to Bitcoin and Ethereum staking as the primary source of crypto income. The platform also notes an increase in transactions and deposits in coins such as XRP, Cardano, and Solana.
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