Geography of International Blockchain Transactions from Crystal

Below is an interactive map showing the current and historical international blockchain flow of transactions between countries and exchanges. This map is based on the Geography of Blockchain Transactions Report that was created by the Crystal analytics team in April 2021. The information on this map is updated quarterly, and the prices are in US dollars.

Select a time period and country below to explore its fund flows:

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Last database update: Apr 01, 2021
Summary of Findings
  • By the end of Q1 2021, the countries with the largest number of registered exchanges were the UK (68 exchanges), Singapore (43 exchanges), the US (39 exchanges), and Seychelles (34 exchanges).
  • Argentina (4 exchanges), Indonesia (4 exchanges), and South Africa (2 exchanges) have the fewest exchanges registered among the G20 countries.
  • In 2014, 67% of all bitcoin transferred between exchanges was sent by exchanges from the G20. By Q1 2021 the volume of these transactions decreased to 34%.
  • In Q1 2021, the total volume of bitcoin directly transferred between exchanges was almost $82.5 billion, an increase of 452% from the same period a year ago.
  • In Q1 2020, the total volume of bitcoin directly transferred between exchanges was $15 billion. That's 16% of the almost $93.8 billion transferred in all of 2020. 34% of the volume moved between exchanges in 2021 was transferred by G20 countries, while Seychelles transferred about 47% of the total volume of bitcoin exchanges in Q1 2021. (This volume is majoritively made up of transactions related to Binance and Huobi.)
  • The share of EU bitcoin amounts transferred decreased from 10% in all of 2020 to 9% in Q1 2021. More specifically, the bitcoin amount sent by EU in 2020 was $9.0b, and in Q1 2021 was $7.7b. The amount received by EU in 2020 was $8.6b and Q1 2021 was $6.2b. While EU exchange transfers haven't grown as rapidly as Seychelles or the British Virgin Islands, they do contribute significant amounts.
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International Blockchain Transactions Report Versions
Report 2013 - Q1 2021

Our international blockchain transactions report covers the flow and dynamics of bitcoin funds from 2015 to the current day. We began this report in 2019. See below for all versions of our quarterly updated reports, with the latest version included.

Previous versions
Report 2013 - Q3 2020
Oct 15, 2020
Report 2013 - H1 2020
Jul 08, 2020
Report 2013 - Q1 2020
Apr 16, 2020
Report 2013 - 2019
Jan 09, 2020
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