Crypto Adoption Surges in High-Inflation Economies as Local Currencies Falter

Turkey, Argentina, and Nigeria now lead global cryptocurrency activity as citizens seek refuge from unstable national currencies. Chainalysis data reveals Turkey processed $200 billion in crypto transactions between July 2024 and June 2025, followed by Argentina ($93.9B) and Nigeria ($92.1B). Venezuela and Bolivia round out the top five with $44.6B and $14.8B respectively.

Stablecoins dominate in hyperinflationary economies like Venezuela and Bolivia, where local currencies have lost public trust. The trend began during the early 2020s pandemic disruptions but accelerated as central bank policies failed to curb double- and triple-digit inflation. crypto now functions as a practical tool for value storage, cross-border payments, and inflation-resistant savings.

Bolivia’s boliviano faces 22% inflation as of October 2025, exacerbating its foreign reserve crisis. Meanwhile, Argentina’s peso collapse and Nigeria’s naira devaluation have forced businesses and individuals toward BTC, ETH, and dollar-pegged stablecoins traded on Binance, Bybit, and Coinbase.