According to Chainalysis’ report, decentralized finance, or DeFi, is mainly responsible for North America’s Crypto market growth. Furthermore, the firm stated that as per the 2021 Geography of Cryptocurrency Report, the monthly Crypto transaction volume across North America grew by more than 1,000 per cent from July 2020 to June 2021. In addition, DeFi transactions represented 37 per cent of North America’s overall transaction volume.