TL;DR
- North America accounted for 26% of all cryptocurrency transaction activity between July 2024 and June 2025, totaling $2.3 trillion.
- Stablecoin transactions surged in December 2024, marking the highest monthly activity recorded to date.
- Regulatory shifts in the U.S., including clearer frameworks for institutional participation, have bolstered both ETF-driven flows and retail engagement, solidifying the region’s leadership in global crypto adoption.
According to Chainalysis, North America has emerged as a major hub for cryptocurrency adoption, with the United States ranking second in the 2025 Global Adoption Index. Institutional activity, such as bitcoin ETFs and tokenized treasury funds, contributed significantly to high-value transactions, with nearly 45% of all transfers exceeding $10 million.
The U.S. market saw tokenized money market assets grow from $2 billion to over $7 billion in one year, highlighting the integration of traditional finance and digital assets. Growing investor interest in regulated on-chain products has further strengthened liquidity, while DeFi protocols increasingly use these assets as collateral, demonstrating a deepening connection between conventional markets and crypto ecosystems.
Volatility And Retail Demand Fuel Adoption Trends
North America’s crypto market has experienced notable swings in monthly transaction values, from a 35% decline in September 2024 to an 84% increase in November 2024. While institutional strategies drive much of this volatility, retail participation remains strong. Centralized exchanges recorded $2.7 trillion in bitcoin purchases and $1.5 trillion in ETH purchases between June 2024 and July 2025. The stable share of bitcoin in fiat trading—around 42%—demonstrates enduring demand and adoption among everyday users. Increased retail activity alongside institutional inflows has helped sustain market depth and fostered an environment of both price discovery and innovation in trading tools.
North America: Institutional Powerhouse And Stablecoin Leader
Regulatory clarity has accelerated institutional adoption, as agencies like the SEC, CFTC, and OCC have revised past guidance to encourage broader engagement. The GENIUS Act also formalized stablecoin oversight, reinforcing the U.S. dollar’s global dominance while safeguarding market stability. Stablecoin transfers frequently exceeded $2 trillion per month in 2025, with peaks near $3 trillion, showcasing the vital role of dollar-backed digital assets in both domestic and international finance.
The increased scale of stablecoin activity has enabled cross-border transactions to be executed more efficiently, while creating new avenues for institutions and fintechs to offer yield-bearing products on-chain.
These developments signal that North America is not only maintaining its leadership in cryptocurrency adoption but also shaping the global financial landscape through a combination of institutional innovation, retail demand, and stablecoin infrastructure.
