A recent report by Chainalysis highlights that the United Arab Emirates (UAE) stands out in global cryptocurrency activity, showing significant growth across all categories by transaction size.
From July 2023 to June 2024. The UAE has received more than $30 billion in cryptocurrencies, ranking it among the 40 largest countries in the world. This growth is fuelled by regulatory innovation, institutional interest and increased market activity.
Interestingly, cryptocurrency received from retail investors (transactions under $1,000) and mid-sized investors (between $1,000 and $10,000) grew by over 75% year-over-year.
Institutional investor activity (transactions between $1 million and $10 million) also saw a significant increase, growing by over 50% year-over-year.
The UAE is the third largest crypto economy in the MENA region, featuring a more diversified ecosystem compared to neighboring countries where centralized exchanges dominate.
Adoption of the DeFi sector in the UAE exceeds the global average, with 32.4% of transactions taking place on decentralized exchanges (DEX), compared to the global average of 27.8%. The total value of cryptocurrencies received through DeFi services grew 74% year-on-year, with DEX transactions increasing 87% to $11.3 billion.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.