The US tops Coin Journal’s list of most successful crypto countries
The US sits on top Myntjournal’s list of the most sought-after crypto countries, achieving a score of 9.94 out of 10, recognized as having 1,992 crypto-related businesses employing 5,691 people, worth $46.95 billion.
The next more successful country, the United Kingdom, has a crypto industry worth an estimated $8.16 billion, employing 617 people across 817 crypto-centric businesses.
Germany came in at number 3, followed by France and Vietnam, with a combined value of $17 billion in blockchain tech startups and businesses between them.
Along with the UK, the rest of the top 5 did not value half of US crypto startups.
In crypto, money talks and the industry tends to gravitate towards geographies with capital that can be put to work.
In previous years, other countries have sporadically made various top five lists, such as Switzerland, home to Zug’s famous “crypto valley” canton. The United Arab Emirates, home of Binance and the famous CZ itself, and Estonia, once referred to as the “digital capital of Europe.”
The list, but also other lists such as Chainalysis’ annual ranking of crypto cities, tend to generate heated debate online, as people argue whether other factors such as quality of life or cost of living should factor into the ranking methodology.
According to Coin Journal’s report, which is the first, several factors were factored into the methodology. They included the number of cryptocurrency owners by country, investment companies, crypto startups, and estimated average earnings from crypto per country.
While other reports – for example, the more comprehensive Geography of CryptoCurreny Report, published annually by Chainalysis – include broader issues such as the macroeconomic environment, policy and regulatory matters when making their recommendations.
While money obviously plays a key role in determining the success of any crypto community, it does not necessarily reveal whole picture. Also, with the cryptocurrency industry itself also subject to near-constant change, not to mention the mule of regulators getting faster every year, the US – at least according to this year Coin journal report – continues to be the risk measure for crypto capital.
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