According to reports, DeFi is giving a huge boost to the crypto space in several European countries including England, France, and Germany. This development particularly holds sway among institutional investors in these regions. In fact, the regions of Central, Northern, and Western Europe (CNWE) are now the world’s biggest crypto economies.
In addition, these regions have received over $1 trillion worth of crypto within the last 12 months. This also represents about 25% of total crypto activity. Only last year, CNWE ranked second and researchers chalk its new position up to a combination of factors. In their own words:
DeFi is also receiving more attention from larger institutional players in the CNWE area. Researchers found that CNWE’s crypto transactions volume increased significantly for all crypto types and services, especially DeFi protocols.
A large number of institutional investments transactions was the main driver of much of this growth. This also boosted retail activity in the region. The combined value of large institution transactions, which are worth $10 million or more, jumped from $1.4 billion up to $46.3 billion. This all occurred in approximately one year, from July 2020 to Juni 2021. It represents half of CNWE activity.
