Cryptocurrency adoption shows significant variation globally, influenced by various academic studies. Research identifies that countries with higher education levels, human development, democracy, regulatory quality, and GDP exhibit higher cryptocurrency adoption. Conversely, nations characterized by less economic freedom and corruption face lower adoption rates. Trust emerges as a pivotal factor, as diminished trust in the financial sector correlates with less interest in cryptocurrencies. Different demographics also display varying trust levels, impacting adoption rates. Moreover, recent findings distinguish between general cryptocurrency adoption and decentralized finance (DeFi), emphasizing that population size, inflation, and governance structures play crucial roles. Early adopters significantly impact cryptocurrency returns and market efficiency, suggesting that adoption types shape market performance. Overall, the academic literature underscores the importance of economic and political indicators in understanding cryptocurrency adoption trends worldwide.

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