The United States leads the global adoption of decentralized finance, followed largely through Vietnam, Thailand, China and the United Kingdom as cryptocurrencies gain momentum, according to a new one through Chainalysis, a crypto analytics firm. The buildup in DeFi adoption is basically due to experienced cryptocurrency investors diversifying their portfolios, Chainalysis said. As a result, middle- to high-income countries with established cryptocurrency markets and developing institutional approval ranked first on their list. “At the moment, DeFi is aimed at crypto experts,” David Gogel, head of expansion at dydx, a popular DeFi protocol, said in the study. “These are other people who have been in the industry for some time and have enough budget to experiment with new assets. The DeFi Global Adoption Chain Index 2021 analyzed 154 countries and ranked them into 3 metrics: the price of chained cryptocurrency earned through DeFi platforms, the retail price of the chain transferred through DeFi platforms, and individual deposits on DeFi platforms. Each country weighted to avoid skewing the effects towards larger countries. The closer the country’s final score is to 1, the higher the ranking. As countries adopt DeFi, the area has yet to enter the mainstream compared to the broader cryptocurrency market, according to the study. DeFi is a general term for programs (lending, lending, trading, savings, derivatives, options, stocks) that use public blockchains and crypto assets to alter classic currency sectors.