France's position in the world when it comes to crypto adoption based on transaction volume grew by nine places between 2022 and 2023. This is according to estimates based on web traffic toward individual websites that are used to perform cryptocurrency transactions. The source started combining its separate surveys on centralized and decentralized behavior in 2022. As France seemed to prefer Decentralized Finance (DeFi) applications over centralized exchanges, this likely explains why the country's position in this world ranking increased.
Crypto Adoption Index ranking of France from 2020 to 2023, by metric
Rank of individual weighted metrics feeding into index
Ranking (1 = highest, 146 = lowest); Weighted by purchasing power parity (PPP) per capita
Supplementary notes
All figures have been collected by Statista.
The source explains that its index is calculated using five different sub-indices, which are estimated using an individual country's cryptocurrency transaction volume in different situations. These estimates are based off web traffic patterns from individual websites that are used for such transactions and/or protocols.
Several changes were made to the source's methodology over the years. In 2022, the main change involved the inclusion of Decentralized Finance (DeFi) transaction volume. Centralized and Decentralized sub-indices both count equally to the overall index.
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Chainalysis, & Statista. (October 2, 2023). Crypto Adoption Index ranking of France from 2020 to 2023, by metric [Graph]. In Statista. Retrieved October 30, 2024, from https://www.statista.com/statistics/1362851/cryptocurrency-adoption-index-france/
Chainalysis, und Statista. "Crypto Adoption Index ranking of France from 2020 to 2023, by metric." Chart. October 2, 2023. Statista. Accessed October 30, 2024. https://www.statista.com/statistics/1362851/cryptocurrency-adoption-index-france/
Chainalysis, Statista. (2023). Crypto Adoption Index ranking of France from 2020 to 2023, by metric. Statista. Statista Inc.. Accessed: October 30, 2024. https://www.statista.com/statistics/1362851/cryptocurrency-adoption-index-france/
Chainalysis, and Statista. "Crypto Adoption Index Ranking of France from 2020 to 2023, by Metric." Statista, Statista Inc., 2 Oct 2023, https://www.statista.com/statistics/1362851/cryptocurrency-adoption-index-france/
Chainalysis & Statista, Crypto Adoption Index ranking of France from 2020 to 2023, by metric Statista, https://www.statista.com/statistics/1362851/cryptocurrency-adoption-index-france/ (last visited October 30, 2024)
Crypto Adoption Index ranking of France from 2020 to 2023, by metric [Graph], Chainalysis, & Statista, October 2, 2023. [Online]. Available: https://www.statista.com/statistics/1362851/cryptocurrency-adoption-index-france/
