Russia Leads Europe in Crypto Adoption with $376.3B in Transactions
Russia has surged ahead of all European markets in cryptocurrency adoption, recording $376.3 billion in received transactions between July 2024 and June 2025, according to Chainalysis. The UK trails distantly at $273.2 billion, signaling a seismic shift in regional crypto dynamics as Russia accelerates its embrace of decentralized finance and institutional-scale transfers.
Chainalysis' 2025 Geography of crypto Report reveals an 86% explosion in Russian large-scale transfers exceeding $10 million—nearly double Europe's 44% growth rate. The country's crypto ecosystem has matured beyond retail speculation, with DeFi activity peaking at eight times early-2023 levels before stabilizing at 3.5x baseline. Stablecoins now dominate cross-border settlements, reflecting Russia's strategic pivot toward blockchain-based financial infrastructure.
