A recent study into blockchain activities has revealed that India sits second place in the number of blockchain wallet transactions.
According to the survey, it showed the activities of blockchain wallet transactions increased drastically in July. The survey said that major digital assets also overpowered traditional assets in the financial market during the same period.
The most surprising fact of all shows that digital assets have performed way better than the American currency. With the future of digital assets still unknown due to the looming ban, the country has displaced significant countries to make history.
India sees a massive increase in blockchain wallet transactions
Going by the report, it shows that India witnessed a massive surge in blockchain wallet transactions across the whole of the country despite the rumors of crypto ban making more waves. The country moved into second place as it recorded an increase of 17.4% in the whole of last month.
According to the list, Peru recorded the most blockchain wallet transactions with an increase of 18.3% while Indonesia came close in third with a 12.6% increase. Another record-breaking country on the list is Nigeria, with the West African country recording an increase in transaction volume by 60% since the end of April. If Google trends and searches are anything to go by, Nigeria is said to be the most interested nation in Bitcoin.
Significant digital assets performed better than traditional markets
With the study showing countries performing well due to the blockchain wallet transactions, it has shown that some major countries, including Brazil, have seen the activities of crypto decline. Other major countries that have witnessed a decline include Hong Kong, Vietnam, amongst others.
According to the report released by block giant blockchain.com in July, top coins in the crypto market have performed wonderfully well in the financial market, leaving traditional assets in its wake. Ethereum gained the highest as it recorded 57%, while Bitcoin follows closely in second place with an increase of 24%. However, there was no traditional market that made it past an increase of 11% during that same time frame.