India Tops Crypto Adoption; US Volume +50%, $4T Stablecoins
India has claimed first place in TRM Labs’ 2025 Country Crypto Adoption Index for the third consecutive year. Crypto adoption in India continues to outpace other major markets, driven by its young population, rising crypto literacy, a growing developer community, and expanding retail and institutional participation.
The United States ranks second but achieved record transaction volume. Between January and July 2025, US crypto activity rose 50% year-on-year, surpassing $1 trillion. This surge coincided with regulatory developments such as the GENIUS Act and a White House digital asset report, plus a 30% increase in web traffic to virtual asset service providers after the 2024 presidential election.
Stablecoins accounted for 30% of global crypto transaction volume in the same period. Trading volumes jumped 83% year-on-year to over $4 trillion, with Tether (USDT) and Circle’s USDC holding 93% of market capitalization. While 99% of stablecoin transactions are legitimate, 60% of illicit crypto transfers in Q1 2025 involved stablecoins due to their low fees and speed.
Traders should note these adoption trends and record stablecoin flows as indicators of rising market liquidity and mainstream use.
Bullish
Rising crypto adoption in India and record transaction volumes in the US signal growing demand and liquidity. Stablecoin trading hitting $4 trillion underscores mainstream utility and capital inflows. In the short term, increased volume and regulatory clarity can boost market confidence and price momentum. Long term, sustained adoption and institutional participation provide a foundation for higher valuation and market stability, making the outlook bullish.