Grayscale Says U.S. Midterms Won’t Shift Crypto’s Global Course

Grayscale estimates that the United States accounts for 15% to 20% of worldwide crypto activity and says midterm results are unlikely to change the industry’s direction, given its global reach and cross-party support. The firm’s estimate places 80% to 85% of activity outside the United States. Its U.S. share varies by measure: 36% of global Bitcoin (BTC) hashrate, 24% of stablecoin payment value and 15% of spot trading volume. Grayscale also considers on-chain activity in its estimate. Grayscale Head of Research Zach Pandl points to the industry’s global reach, institutional adoption and support across party lines.