May 5, 2022 – London, United Kingdom
CoinText.com has compiled a study of the popularity of cryptocurrencies across nations, which concludes that Ethereum investors outnumber Bitcoin investors in 26% of countries worldwide, including the USA.
This provides fresh impetus to the Flippening debate and highlights the different beliefs around the globe surrounding certain cryptocurrencies.
Alternate economic landscapes
Digging deeper, the analysis shows that American Bitcoiners are also outnumbered by Dogecoin investors, with the USA containing the highest number of DOGE investors worldwide. This contrasts starkly with Argentina, for example, which possesses a higher portion of Bitcoin investors than any other countryperhaps in response to the crippling inflation currently hampering the South American nation.
About the study, David Merry, CEO of Investoo Group, the parent company of CoinText, said,
“[The study] is an intriguing look at the psychology of crypto investors in different countries, and how alternate economic landscapes can shift sentiment to and away from Bitcoin and other coins.”
Solana versus Ethereum
Other conclusions the study arrives at include the fact that more Japanese investors hold Solana than Ethereum, displaying a stout belief that Solana ultimately offers a better platform within the realm of DeFi. Singapore, meanwhile, appears to be the most bullish nation on Ethereum.
The data in the CoinText study dates from January 2022 and is derived from a survey of 27 countries. Results are weighted using Google’s interactive ranking process, reflecting the national population distribution in each country.
The coins examinedBitcoin, Ethereum, Solana, Dogecoin and XRP are among the biggest coins in the space and encompass some of the main sub-sectors of the crypto market Bitcoin, DeFi, NFTs and memes.
“Investors worldwide are a diverse bunch, all coming from different macro landscapes. They seek contrasting avenues in deploying their capital, and each country has contrasting risk/reward [and] cultural and economic parameters [that] they are working within. The variant data among nations here only backs this up.”
CoinText.com comprises a team of cryptocurrency and blockchain experts and enthusiasts who educate and inform readers on the many complex and challenging aspects of cryptocurrency. CoinText publishes a range of guides on trading, investing, mining and purchasing cryptocurrencies on the CoinText website.
Jayson Derrick, lead news editor at Investoo Group
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