Brazil Outranks US in Crypto Adoption During Worst Bear Market Since 2022
Brazil ranked because the world’s prime nation for grassroots crypto adoption in Chainalysis’ 2026 index. It beat the US as crypto’s market worth roughly halved.
The nation’s crypto financial system reached $252.5 billion over the 12 months ending June 30. Worldwide, on-chain exercise slipped simply 1.6% whereas the market shed $2.1 trillion.
How Brazil Beat the US Without Winning a Single Category
Brazil ranked fourth or greater in each class the index measures. It got here second in cross-border flows, third in service flows and domestic peer-to-peer (P2P) activity, and fourth in balances.
“In a 12 months when bear markets stunted world progress, it frequently delivered sturdy efficiency relative to its dimension, beating extra established markets just like the United States,” the report mentioned.
That consistency decided the result because of how the index is constructed. Chainalysis scores every nation from 0 to 1 for every class after which computes the geometric imply. The agency says this method favors international locations that rating effectively throughout the board, so no single sturdy class can cover weak ones.
The US ranked first in each service flows and balances. However, it positioned eleventh in cross-border flows and twentieth in home P2P transfers, leaving it second general.
Brazil positioned fifth in the agency’s 2025 ranking, which India led. Chainalysis rebuilt its methodology this 12 months, so the 2 lists don’t examine straight. Meanwhile, Latin America grew its crypto financial system 9.8%, at the same time as the worldwide complete shrank.
Follow us on X to get the newest information because it occurs
Stablecoins Kept the Crypto Economy Moving as Market Value Halved
Brazil’s end result got here in what Chainalysis calls crypto’s worst bear market since 2022. Despite this, world exercise remained close to $9.4 trillion, down from $9.5 trillion a 12 months earlier.
By comparability, the 2023 interval noticed a 23% decline in exercise amid a market cap drop of simply $0.3 trillion. Chainalysis credit a rising range of use cases for softening this 12 months’s decline.
“Crypto’s rising variety of use instances blunted the contraction,” it added.
Transfers between private wallets inside international locations rose 302.9% to $228.7 billion. Stablecoins now account for 96% of that movement. In distinction, inflows to exchanges, decentralized finance (DeFi) protocols, and different providers fell 4.3%.
Cross-border stablecoin transfers climbed 77.5% to $220.3 billion, with the typical cost close to $3,000. Philip Gradwell, vp of economics at Tether, informed Chainalysis the sample factors to business use.
“Activity has change into constant, routed via wallets in a gentle rhythm fairly than in bursts. That is the signature of commerce and enterprise exercise, not hypothesis,” he acknowledged.
Stablecoin balances held between $98 billion and $109 billion via the downturn. Their share of world on-chain holdings rose to 22.5% by June as different property misplaced worth.
Subscribe to our YouTube channel to observe leaders and journalists present knowledgeable insights
The submit Brazil Outranks US in Crypto Adoption During Worst Bear Market Since 2022 appeared first on BeInCrypto.
