Annual on-chain crypto transaction volume across the Middle East and North Africa rose from about $100 billion in 2022 to an estimated $350 billion during 2025-2026, according to the Bitcoin Policy Institute. Turkey remained the region's largest market, with nearly $200 billion in annual transaction volume, while the institute estimated UAE activity at about $150 billion in 2025. Saudi Arabia's reported 154% growth and Qatar's 120% increase came from a Chainalysis study published in September 2024, rather than new 2026 measurements. Chainalysis separately recorded $338.7 billion in regional activity from July 2023 through June 2024 and more than $500 billion for the year ending June 2025, highlighting substantial differences in methodologies and reporting periods. Inflation, currency depreciation, conflict and capital restrictions have supported demand for Bitcoin and dollar-backed stablecoins in vulnerable economies, while Gulf financial centers have drawn exchanges, institutional traders and tokenization firms through regulated frameworks.