India extends cryptocurrency reign, however US not far behind with explosive 50% quantity development

Cryptocurrency exercise within the US elevated by 50% to $1 trillion, whereas India led the way in which for the third yr in a row.

India and the US lead world cryptocurrency adoption from January to July 2025. In response to TRM Labs’ Nation Crypto Adoption Index 2025, India retained its prime spot for the third consecutive yr, whereas the US remained in second place.

Each international locations have proven vital momentum thus far this yr with elevated retail participation, institutional involvement, and an evolving regulatory setting.

Who wins within the adoption recreation?

TRM lab Found India’s continued lead displays the rising base of crypto customers and builders, in addition to rising curiosity in India amongst each retail and institutional buyers. From January to July 2025, India’s prime place within the index remained unchanged from 2024. The evaluation attributes this to India’s giant and youthful inhabitants, growing crypto literacy, and rising engagement of middle-class buyers searching for different belongings.

The nation’s cryptocurrency ecosystem has additionally benefited from a rising developer group and in depth digital funds infrastructure that helps transactional actions associated to remittances, funds, and preservation of worth.

Together with India, the US additionally continued to indicate sturdy development in buying and selling exercise. Blockchain Intelligence Platform reported that from January to July 2025, US cryptocurrency buying and selling quantity elevated by roughly 50% in comparison with the identical interval in 2024, exceeding $1 trillion.

This development builds on the same 50% year-on-year enhance recorded in 2024, confirming that this enlargement represents a secure multi-year pattern. The US remained the biggest cryptocurrency market in absolute phrases as measured by buying and selling quantity as each institutional and retail adoption progressed via 2025.

The report additionally notes that the acceleration of US crypto exercise has occurred inside an evolving political and regulatory context. A sequence of legislative and administrative developments formed the panorama for late 2024 and past. Following the election of President Donald Trump in November 2024, there was a big enhance in cryptocurrency-related engagement within the nation, with net site visitors to digital asset service suppliers growing by 30% within the six months following the election, in keeping with TRM information.

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99% of stablecoin exercise is authorized

Stablecoins are taking part in a rising function in world cryptocurrency adoption. In actual fact, the corporate stories that stablecoins accounted for 30% of worldwide crypto buying and selling quantity throughout the identical interval. Knowledge exhibits that over 90% of fiat-backed stablecoins are pegged to the US greenback, and Tether (USDT) and Circle (USDC) collectively account for 93% of stablecoin market capitalization.

TRM Labs additional discovered that stablecoin buying and selling quantity reached an all-time excessive in 2025, with the determine growing by 83% year-on-year from July 2024 to July 2025, and reaching over $4 trillion from January to July 2025. Throughout the identical interval, main stablecoins elevated their total market share by 52%.

Whereas TRM assesses that 99% of stablecoin exercise is legit, the report notes that 60% of all unlawful crypto transactions in Q1 2025 concerned stablecoins, which can be attributable to low charges, transaction speeds, and widespread availability on open blockchains similar to Tron and Ethereum.

Funding fraud accounted for the biggest share of the rise in illicit buying and selling quantity throughout the broader ecosystem, however sanctions-related exercise decreased by $5.2 billion inside main stablecoins, regardless of a 380% year-over-year enhance in extortion and blackmail-related transactions from January to July 2025.