General
Top 10 Crypto Degen Countries. Get to know them!
- Interest in the crypto economy, particularly DeFi, has continued to grow in 2024 despite the market’s ups and downs and uncertainties around potential crypto finance regulations. Noteworthy developments include the SEC approval of Spot Ethereum ETF, which we discuss in this article.
- Next, we will talk about the 10 most degen countries, the ones with more DEXTools users that are actively trading.
But first, we’d like to remind you that you can create your own tokens from anywhere in the world using the DEXTools Token Creator: safe, easy and fast!
You can create your own token in DEXTools here.
In this article we explain everything with a step-by-step guide. Go ahead and give it a try!
A brief prologue: the cases of the US and China, and other peculiar crypto hubs with some percentages.
- The US is the most degen country in crypto, representing 16.8% of global interest in smaller market cap crypto on onchain DEX trackers. The UK follows with 6.2% interest in ‘shitcoins’ or memecoins, and the Philippines with 5.1% interest. Together, the top 25 most degen countries account for 77.8% of onchain speculation interest.
- In Southeast Asia, Indonesia (4.0%), Vietnam (2.9%), Thailand (1.2%), and Malaysia (0.9%) show notable interest. Nigeria is the sixth most interested globally at 3.9%. Within the EU, France (4.4%), the Netherlands (3.0%), and Poland (2.4%) are leading. It is worth noting that 18 of the top 25 degen countries are members of the G20, an international forum that brings together economically important countries.
Top 10 DeFi countries by average traffic. Source: similarweb.com
Top 10 Countries Leading in DeFi Trading (by traffic and DEXTools users)
- The following 10 countries exemplify the diverse and dynamic nature of DeFi adoption worldwide. Each has its unique strengths and challenges, but collectively, they are driving the growth and innovation of Decentralized Finance, paving the way for a more inclusive and efficient financial system.
1-United States: The US is at the forefront of the DeFi space, driven by tech-savvy investors and developers. Silicon Valley and other tech hubs contribute significantly to DeFi innovation. American traders are deeply involved in yield farming anb also in staking and lending, benefiting from the country’s advanced tech infrastructure and access to capital.
2-United Kingdom: London, the UK’s financial center, has embraced DeFi enthusiastically. British traders are known for their sophisticated strategies, often engaging in lending and borrowing protocols. While the regulatory environment is cautious, it’s gradually becoming more supportive, fostering steady growth in crypto adoption.
3-Philippines: In the Philippines, DeFi provides crucial financial services to the unbanked and underbanked. The popularity of play-to-earn games and micro-lending platforms highlights the innovative use of DeFi. Filipino traders eagerly adopt crypto to access financial services unavailable through traditional banking.
4-France: France’s DeFi community is growing, particularly in Paris, often dubbed the “Crypto Valley” of Europe. French traders prioritize security and innovation, actively participating in the governance and development of DeFi protocols. A supportive regulatory framework and emphasis on technological advancement bolster the French crypto ecosystem.
5-Indonesia: Indonesia’s large population and increasing interest in digital finance have boosted its DeFi market. Indonesian traders are active in yield farming and decentralized exchanges, seeking higher returns and greater financial inclusion. The government’s positive stance on blockchain technology further encourages crypto activities.
6-Nigeria: Nigeria is a standout in Africa for its vibrant DeFi community. Facing economic instability and currency devaluation, Nigerians turn to crypto for financial stability and access to global markets. The youth-driven tech scene in Nigeria is leading the way in adopting and developing crypto solutions tailored to local needs.
7-Canada: Canada has quickly become a DeFi hub, supported by a strong tech foundation and favorable regulations. Canadian traders are engaged in staking and yield farming, with a focus on sustainable and secure DeFi projects. The country is also home to many innovative DeFi startups, contributing to the global crypto landscape.
8-Netherlands: The Netherlands boasts a proactive and knowledgeable DeFi community. Dutch traders prioritize security and transparency, often participating in the governance and development of DeFi protocols. The country’s advanced digital infrastructure and supportive regulatory environment make it a fertile ground for innovation.
9-Vietnam: Vietnam’s DeFi market is growing rapidly, driven by a young and tech-savvy population. Vietnamese traders are heavily involved in yield farming and Decentralized Exchanges (DEXs) seeking high returns. The government’s increasing support for blockchain technology and digital innovation further fuels crypto adoption.
10-India: India’s crypto scene is flourishing, with a large population of young and tech-literate individuals. Indian traders actively participate in lending, borrowing, and yield farming on DeFi platforms. Despite regulatory uncertainties, the community remains optimistic and innovative, significantly contributing to the global crypto ecosystem.
And that’s it!
- Remember that the DEXTools app is available to everyone in 9 different languages, and we have users all over the globe (even in Antarctica!).
- Wherever you are, we understand that the life of a DeFi trader is challenging, and we strive to make it easier by continuously improving our tools based on your feedback.
Thank you for your support and trade safely!
