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https://www.cryptospace.today/2023/09/crypto-frenzy-in-uae-big-fish-making.html
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Crypto Frenzy in the UAE: Big Fish Making Waves in the Desert
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A report from Chainalysis reveals that the majority of crypto transactions in the UAE from July 2022 to June 2023 were whale transactions, exceeding $1 million each. Institutional investments accounted for over 67% of these transactions. The UAE's cryptocurrency market has shown confidence and interest from organizations and high-net-worth individuals, and the country has also seen significant activity in decentralized exchanges and the DeFi sector. The UAE is outperforming other countries in the MENA region in crypto adoption. Additionally, Chainalysis released rankings indicating that the Central & Southern Asia and Oceania region leads in grassroots crypto adoption, with lower middle-income countries taking the lead. Our analysis of the situation If you thought the desert was all about sand dunes, falcons, and camels, think again! The United Arab Emirates (UAE) seems to have embraced a new kind of currency, one that swims in the deep seas of the cryptocurrency world. Brace...
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