Inflation and currency collapse drive a surge in cryptocurrency adoption in Venezuela
Jinse Finance reported that as Venezuelan citizens turn to digital assets to hedge against currency collapse and tighter government controls, cryptocurrency is becoming a core component of the country's economy. According to the Chainalysis 2024 Cryptocurrency Adoption Index Report, Venezuela ranks 13th globally in cryptocurrency adoption, with the report noting that the country's cryptocurrency usage increased by 110% within a year.
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