According to a report prepared by the United Nations Conference on Trade and Development (UNCTAD), Ukraine has become a world leader in the adoption of cryptocurrency.
12.7% of the population has digital assets.
The document also reports that the cryptocurrency ecosystem has grown more than 20-fold in almost two years. Experts emphasized that the development of the cryptocurrency market was facilitated by the Covid-19 pandemic.
The report also states that cryptocurrency is widely used for cheaper and more stable money transfers.
In addition, analysts emphasized that the popularity of digital assets is often driven by inflation.