The analysis, dubbed the Blockchain Behavior Report, outlined major trends that affected the blockchain space in the last quarter, including regions where crypto adoption accelerated in both usage and regulatory efforts.
Countries That Led Crypto Adoption in Q3
The findings revealed that Ukraine, Indonesia, and Russia saw the biggest adoption growth, with their adoption rates increasing by 143.17%, 115.59%, and 88.28%, respectively.
Regulation in Q3 saw growth and focused development, with different bills passed and several proposals awaiting approval. Regulators in the U.S., U.K., and EU played an active role in this section, and from the look of things, new crypto rules are bound to emerge early next year.
Meanwhile, the Web3 space has been in an upward trend since the start of the year, and about 36% of all existing Web3 smart contracts were published this year.