Regulatory Uncertainty Impedes DeFi’s Growth in North America: Chainalysis

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Regulatory Uncertainty Impedes DeFi’s Growth in North America: Chainalysis
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North America emerged as the dominant cryptocurrency market, boasting an estimated on-chain value of $1.2 trillion between July 2022 and June 2023.

Another significant factor contributing to the slowdown of DeFi in North America is the continued regulatory uncertainty within the US market. Chainalysis noted that the decline in crypto activity over the past year in North America, attributed to a global decrease in both transaction volume and grassroots adoption, may not come as a surprise.

In May 2022, the collapse of LUNA resulted in the obliteration of nearly $60 billion of the crypto market. Those who had experienced immense wealth through LUNA’s rapid ascent the preceding year saw their fortunes completely vanish.

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