Nigeria becomes the most crypto obsessed nation after the April crash
Google Trends data ranks nations on their recent crypto search terms. Ethereum outperforms Bitcoin in search terms
By Shashank Bhardwaj
Most crypto assets lost more than 60 percent from their peak valuation during the April crypto market crash. This resulted in a general decline in trading and investor activities and interests. Despite the April crash, the latest study has revealed interest and curiosity in crypto assets worldwide.
The study took into consideration Google Trends data related to crypto phrases that are popular searches. The overall search score was published after combining results of each country's search history. The research took into consideration the data from 15 countries across the globe.
The study further emphasised the popularity of the crypto market among the Nigerian population, with most searched phrases like 'buy crypto' and 'invest in crypto' leading to an overall assessment score of 370. The lack of competent financial services in Nigeria has propelled the curiosity about crypto in the Nigerian populace and is a major driver of crypto adoption throughout Africa.
Following the April collapse in Nigeria, the search density for the phrase 'invest in crypto' has increased at the same rate, while the search density globally has been steadily declining in contrast.
Earlier in April, KuCoin's 'Into the Cryptoverse Report' highlighted the increasing crypto interests among Nigerians. It was reported that 35 percent of the population aged 18 to 60 currently own crypto assets or have traded them over the past 6 months. 52 percent crypto investors from the Nigerian community repeatedly save more than half their investments in the form of crypto assets.
With a search score of 270, the United Arab Emirates (UAE) came in second due to the strengthening crypto inclination of its fellow citizens. Singapore was declared third in a row with a score of 260, while the United States was ranked 12th with a search score of 157. Some of the top crypto assets that individuals in these 15 countries looked for were also pinpointed by the search score data.
Ethereum searches outperformed Bitcoin searches 14 of them. Singapore dominated the rank table with a score of 59. The forthcoming Merge to the proof-of-stake (PoS) network may be the reason for the increased interest in Ethereum over Bitcoin. The Merge is scheduled to take place in mid-September.
Shashank is founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist.
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US Govt Links North Korea to Axie Infinity HackRead More..
Jack Dorsey's first tweet NFT resells for only $280Read More..
Opera crypto browser now available on iOSRead More..
Beanstalk Stablecoin protocol loses $182 million in governance exploitRead More..
Jack Dorsey vs. Vladimir Tenev on Bitcoin transaction feesRead More..
Ripple claims 'a very big win' in SEC caseRead More..
Argentinian town to invest in crypto mining to fight inflation, upgrade rail infraRead More..
Pantera Capital closing fundraise for its blockchain fund after raising $1.3 billionRead More..
Homegrown blockchain co Polygon commits to go carbon neutral this yearRead More..
NBA registers four NFT trademarksRead More..
US crypto expert jailed 63 months for helping North KoreaRead More..
Fortnite developer Epic Games raises $2 billion to build for the metaverseRead More..
Indian companies storm the metaverse and NFT spaceRead More..
Coinbase is producing a movie trilogy on Bored Ape NFTsRead More..
Multiple Indian Twitter accounts hacked, NFT content postedRead More..
German police shut down $1.3 billion illegal darknet firmRead More..
Meta tests sale of virtual goods in metaverseRead More..
Bitcoin 2022 Conference: Bitcoin Maximalists attack national currenciesRead More..
Binance Gets In-Principle Approval to Operate as Crypto Broker in Abu DhabiRead More..
EU limits Russians' crypto investments to 10k EurosRead More..
Coinbase suspends UPI payments in India three days after launchRead More..
From KFC to Tesla, Dell: Crypto-curious corporations struggle to find right recipeRead More..
In Texas, crypto miners turn to solar powerRead More..
South Africa concludes technical Proof-of-Concept for its CBDC settlement systemRead More..
Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
Meta working on virtual money 'Zuck Bucks': reportRead More..
Germany closes Russian darknet marketplace HydraRead More..
Britain paves way to accept stablecoinRead More..
Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
ECB's Lagarde 'concerned' about crypto use to dodge Russia sanctionsRead More..
Crypto provides fix for some in crisis-hit AfghanistanRead More..
Bitcoin to the rescue: Cryptocurrencies' role in UkraineRead More..
Digital art in spotlight as Dubai makes crypto hub bidRead More..
G7 looks to thwart cryptoassets use as Russian sanctions dodgeRead More..
Can cryptocurrencies give Russia, others breather from economic sanctions?Read More..
Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..