Geography of Transactions
Our international blockchain transactions report covers the flow and dynamics of bitcoin funds from 2015 to the current day.
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 updated by the Crystal analytics team in December 2021. The information on this map is updated bi-annually, 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: DEC 15, 2021
Summary of Key Findings
- By the end of Nov 2021, the countries with the largest number of registered exchanges were the UK (70 exchanges), Singapore (47 exchanges), the US (40 exchanges), and Seychelles (35 exchanges).
- Argentina (5 exchanges), Indonesia (4 exchanges), and South Africa (3 exchanges) have the fewest exchanges registered among the G20 countries.
- Nearly 13% of all exchanges surveyed do not have countries of registration, or this information is not publicly available.
- In 2014, 71% of all bitcoin transferred between exchanges was sent by exchanges from the G20. By Nov 2021, this proportion has decreased to 33%.
- In 2020 (w/o Dec), the total volume of bitcoin directly transferred between exchanges was $87 billion. This figure is 85% of the almost $101.8 billion transferred in all of 2020.
- Thus far in 2021 (w/o Dec), the total volume of bitcoin directly transferred between exchanges was almost $279 billion, an increase of 312% from the same period
a year ago. - 33% of the volume transferred between exchanges in 2021 (w/o Dec) was transferred by G20 countries, while Seychelles transferred about 19% of this volume. This 19% volume primarily consists of transactions sent to and from Huobi exchanges.
- Unconfirmed exchanges transferred about $89 billion in 2021 (w/o Dec). Binance accounts for 97% of this figure but is not defined as its country of registration is vague.
- The share of EU bitcoin amounts transferred decreased from 19% in all of 2020 to 8% in 2021 (w/o Dec).More specifically, the bitcoin amount sent by the EU in 2020 was $9.4b, and in 2021 (w/o Dec) was $22.6b. The amount received by the EU in 2020 was $8.0b and in 2021 (w/o Dec) was $18.3b. While EU exchange transfers have not grown as rapidly as Binance itself or Seychelles, they do contribute significant amounts.
International Blockchain Transactions Report Versions
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 bi-annually updated reports, with the latest version included.
Previous versions