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 created by the Crystal analytics team in July 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: AUG 27, 2021

Summary of Findings

  • By the end of H1 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 (4 exchanges), Indonesia (4 exchanges), and South Africa (3 exchanges) have the fewest exchanges registered among the G20 countries.
  • Nearly 12% of all exchanges surveyed do not have countries of registration, or this information is not publicly available.
  • In 2014, 68% of all bitcoin transferred between exchanges was sent by exchanges from the G20. By H1 2021 the volume of these transactions decreased to 35%.
  • In H1 2020, the total volume of bitcoin directly transferred between exchanges was $37.1 billion. That's 40% of the almost $93.1 billion transferred in all of 2020.
  • Thus far in H1 2021, the total volume of bitcoin directly transferred between exchanges was almost $169.5 billion, an increase of 357% from the same period a year ago.
  • 35% of the volume moved between exchanges in 2021 was transferred by G20 countries, while Seychelles transferred about 19% of the total volume of bitcoin exchanges in H1 2021. This volume is majoritively made up of transactions related to Huobi exchanges.
  • Unconfirmed exchanges transferred about $52 billion in H1 2021. This amount is 96% contributed by Binance, which has a vague country of registration, so it is not defined.
  • The share of EU bitcoin amounts transferred decreased from 10% in all of 2020 to 9% in H1 2021. More specifically, the bitcoin amount sent by the EU in 2020 was $9.0b, and in H1 2021 was $14.7b. The amount received by the EU in 2020 was $7.0b and H1 2021 was $11.9b. While EU exchange transfers haven't 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 quarterly updated reports, with the latest version included.

Previous versions
Report 2014 - Q1 2021
Apr 29, 2021
Report 2013 - Q3 2020
Oct 15, 2020
Report 2013 - 2019
Sep 1, 2020
Report 2013 - H1 2020
Jul 8, 2020
Report 2013 - Q1 2020
Apr 16, 2020