India just held onto its crown as the world’s biggest crypto adopter for the third year running, but the US is closing the gap fast with some crazy growth numbers. TRM Labs dropped their 2025 report showing India still leads while the US locked in second place again.
What’s wild about the US numbers is crypto transaction volume jumped 50% between January and July, blasting past $1 trillion. That’s the second year in a row they’ve posted 50% growth, so this isn’t some random spike; it’s a real trend. Trump getting elected in November 2024 definitely helped, with web traffic to crypto platforms shooting up 30% in the six months after.
India’s dominance makes sense when you look at the demographics. A huge young population, a growing middle class looking for alternative investments, and an expanding developer community are all pushing crypto adoption forward. Plus, their digital payments infrastructure is already pretty solid, which makes crypto easier to use for remittances and everyday transactions.
Stablecoins are basically running the show now, making up 30% of all crypto transactions globally. Tether and USDC together control 93% of the stablecoin market. Volume hit over $4 trillion between January and July 2025, up 83% from last year. TRM says 99% of stablecoin activity is legit, though criminals still love them for the low fees and fast transactions.
Conclusion
India continues to dominate global crypto adoption, but the US is quickly catching up. With stablecoins leading legitimate growth and rising mainstream interest, the stage is set for an even more dynamic digital finance future worldwide.
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