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Chainalysis reported roughly $443.3 billion in cryptocurrency value received across the Middle East and North Africa during its July 2025–June 2026 study period, marking a decline of 1.4% from the previous cycle.
The analysis, released on October 31, 2026, highlights sharply divergent trajectories among individual countries within the region. While the aggregate figure decreased slightly, specific markets experienced significant expansion or contraction based on local economic and regulatory conditions.
UAE Growth and Türkiye’s Scale
The United Arab Emirates emerged as a primary growth driver, with cryptocurrency value received increasing by 32% to approximately $104.8 billion. This growth contrasts with the regional average, indicating a strong shift toward digital asset adoption in the Gulf state.
Türkiye remained the largest market in the region by total value, recording approximately $144.5 billion in cryptocurrency received. Despite the UAE’s higher growth rate, Türkiye’s overall volume remained substantially larger, maintaining its position as the dominant hub for crypto activity in the MENA region.
Chainalysis also identified a fivefold rise in domestic peer-to-peer stablecoin volume within Türkiye. This surge suggests a specific increase in the use of stablecoins for local transactions and transfers, distinct from broader cryptocurrency trading or investment activities.
Methodology and Regional Disruptions
The study period ends in June 2026, meaning the reported totals do not reflect market activity in October 2026. Chainalysis noted that on-chain measures capture transfers visible to analytical models but do not account for every retail purchase or unique individual.
Headline values are influenced by large institutional transactions, exchange transfers, currency hedging, and remittances. The estimates are sensitive to attribution methods and the range of services the analyst can identify on-chain. Consequently, a rise in transaction value does not necessarily indicate a proportional rise in the number of individuals using digital assets for everyday purchases.
In Iran, the analysis recorded interruptions to cryptocurrency activity during periods of internet blackouts. These network disruptions temporarily suppressed the transactions observable by analysts, complicating the assessment of underlying demand in that market.
Regional crypto usage reflects differences in banking access, remittance needs, regulation, inflation, and technology infrastructure. The data underscores that a single regional average obscures the distinct drivers of digital asset adoption in each country.
Frequently Asked Questions
What was the total cryptocurrency value received in the MENA region?
Chainalysis reported approximately $443.3 billion in cryptocurrency value received across the Middle East and North Africa during the July 2025–June 2026 period.
How did the UAE and Türkiye compare in crypto activity?
The UAE saw a 32% growth to $104.8 billion, while Türkiye remained larger with $144.5 billion in total value received.
