Bitcoin supply has fallen by more than 10% across the US in the past two years.
New data from online analytics firm Glassnode shows that the 2022 bear market has impacted the US market more than other countries in terms of growth and adoption.
Since mid-2022, the amount of Bitcoin traded by US companies has decreased by 11% , with most of the fraudulent activity taking place in Asia.
“ Clear differences can be seen in the year-to-year change in BTC supply based on geographies. The Glassnode researchers note that “ U.S. supply dominance is down 11% since mid-2022.”
Asian markets recorded a 9.9% gain throughout 2022 but were still far behind the January 2021 highs. European markets maintained their positions as they recorded a slight gain of 1.1% . in BTC supply dominance.
Several US crypto executives have criticized the Securities and Exchange Commission (SEC) regulations. Republican lawmakers also criticized Committee Chairman Gary Gensler for his hostile stance on digital assets.