Nigeria has shown the greatest interest in cryptocurrencies since April of this year, according to an analysis by cryptocurrency price tracker CoinGecko.
CoinGecko’s co-founder Bobby Ong explained in an emailed report that the survey sheds an intriguing light on which nations continue to express the most significant interest in cryptocurrencies despite market declines. He further stated that the top-ranked countries on this list ground their long-term view on cryptocurrency and their eagerness to buy the dip.
This analysis was carried out using Google Trends data on popular search phrases utilized by Nigerians interested in cryptocurrencies.
It was revealed by a Journo Research release that Nigeria had a score of 371 for six searches ranging from “Buy crypto” to “cryptocurrency” and “invest in crypto.”
In June, the Nigerian Stock Exchange announced its intentions to launch a blockchain-backed platform the following year for trade expansion and also to draw in new investors. That followed an order from its central bank to commercial lenders to halt cryptocurrency transactions and operations at the beginning of 2021, citing a threat to the financial system.
These terms were joined to allocate an overall search ranking to every English-speaking nation. Through this, they found the most crypto-interested country since April 2022, when the market crashed. Singapore and the United Arab Emirates were the second and third most curious countries, respectively, according to discoveries.
The analysis also revealed that, globally, Nigeria had the third-highest population for the cryptocurrency search term “Solana”.
The United Arab Emirates is the country that has demonstrated the second-highest interest in cryptocurrencies since the market collapse in April of this year, with an overall search score of 270.
UAE also ranked second in the list of countries with the population of its people looking for the terms “invest in crypto” and “cryptocurrency.”
Singapore, on the other hand, since April of this year, has been listed as the third Bitcoin-interested nation. The country has an overall 261 search score, ranking third globally regarding searches for the phrase “purchase crypto” and the nation that does the most international searches for the virtual currency “Ethereum”.
The United Kingdom, which is listed fifth overall, since April of this year, has shown the most interest in cryptocurrency, along with the countries mentioned above. The UK ranks third for the number of searches for the keyword “invest in crypto,” with a total search score of 198, and sixth for searches for the term “purchase crypto.”
In the UK, the top three cryptocurrencies are, according to CoinGecko, Bitcoin, Ethereum, and Polygon.
Nigeria has surely put its print on the global map as a nation to look out for in terms of its considerable interest in cryptocurrency and other related elements. We give them all their flowers and hope it opens doors to so much more.
SOURCE: BLOOMBERG
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