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The Middle East<\/span> and North Africa (MENA) was the fastest growing crypto market in 2022, according to a new report by Chainalysis.<\/p>\n Users in the region transacted $566 billion in cryptocurrency between July 2021 and June 2022, up 48% from a year earlier, the report found. In comparison, crypto transactions rose 40% in Latin America, 36% in North America, and 35% in Central and Southern Asia. Other regions saw growth of 22% or less.<\/p>\n For the report, Chainalysis conducted interviews in countries to cast what it described as a \u201creally wide net\u201d and talked to regulators, private businesses, OTC brokers and anyone who operated in crypto across the regions, Kim Grauer, director of research at Chainalysis, told .<\/p>\n Image Credits:<\/strong> Chainalysis(opens in a new window)<\/span><\/p>\n<\/div>\n In MENA, Turkey remains the largest cryptocurrency market \u2014 its citizens used $192 billion of crypto in the period, the report said.<\/p>\n \u201cBased on the data, we see a ton of activity across the board in Turkey, Lebanon, Saudi Arabia, Egypt and the UAE, and that\u2019s just raw transaction value,\u201d Grauer said.<\/p>\n Saudi Arabia and UAE stand out when adjusting for metrics like population size and relative purchasing power, Grauer noted. \u201cIn terms of their kind of becoming a crypto hub\/hotspot, whether it\u2019s because of regulatory initiatives to develop that market or because there\u2019s more disposable income and [they\u2019re] seeking alternative investments, those two areas seem to be attracting international businesses to relocate there.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The Middle East and North Africa (MENA) was the fastest growing crypto market in 2022, according to a new report by Chainalysis. Users in the region transacted $566 billion in cryptocurrency between July 2021 and June 2022, up 48% from a year earlier, the report found. In comparison, crypto transactions rose 40% in Latin America, […]<\/p>\n","protected":false},"author":1,"featured_media":1216802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1216801","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrity-gossip"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1216801","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1216801"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1216801\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1216801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1216801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1216801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}