The Bitcoin (and crypto market in general) in the Middle East and North Africa (MENA) region is the fastest growing in the world, according to a report by Forkast, citing data from Chainalysis.
Countries that are part of MENA are Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait and Lebanon. Other nations within the region include Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen.
Across these sovereign states, from July 2021 to June 2022, more than 9% of the total global cryptocurrency transactions were recorded.
Individual crypto investors from different countries in the region were recipients of approximately $566 billion in digital currencies during the same period.
Meanwhile, of all the nations mentioned, the UAE is the one in the spotlight, as the Gulf territory sees its crypto market growing tenfold this year.
UAE’s Fast-Rising Crypto Skyline
In a different report by MENA blockchain ecosystem Crypto Oasis, it was revealed that...
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