The Rise of Crypto in MENA: A $338 Billion Market
đ The Middle East and North Africa (MENA) region has emerged as the 7th-largest cryptocurrency market, receiving an impressive $338.7 billion in on-chain value between July 2023 and June 2024. With countries like TĂŒrkiye and Morocco leading the adoption index, the region is seeing tremendous growth in both retail and institutional crypto activity. đ°
đ Key Insights:
1. TĂŒrkiye leads the region with $137 billion in on-chain value.
2. Morocco follows with $12.7 billion.
3. 93% of the region's transactions are valued over $10,000, driven by professional investors.
4. The UAE is witnessing growth thanks to a favorable regulatory environment.
5. Saudi Arabiaâs crypto market grew by 154% year-over-year, with a significant share of transactions happening on decentralized exchanges (DEXs).
MENAâs rise in the global crypto space signals growing adoption across professional, institutional, and retail sectors, with decentralized exchanges playing a key role in regions without comprehensive crypto regulations.
Disclaimer: The information shared in this post is for educational and informational purposes only. It should not be considered financial or investment advice. Always conduct your own research before making any financial decisions.
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Image Source
Anvita Gupta/Fast Company Middle East
