Increased interest in cryptocurrencies is a necessary condition for increased crypto adoption. Now, a CoinMarketCap report has revealed the top countries with the largest increase in the number of users.
Are people interested in cryptocurrencies?
In the report entitled “Crypto Market Trends and User Trends, According to CoinMarketCap (Q1 2020 Edition)”, the website provides us with information on how the crypto market has worked and what are the notable trends during the first quarter of the year.
Therefore, the analyzed data comes from their “Patented market capitalization data and user insights from our massive user base.”
In this sense, CoinMarketCap analyzes what happened about cryptocurrency prices and the events that caused the collapse of Black Thursday. But, in addition to this, he studied the trends in new users who have entered the crypto market.
Number of crypto women on the rise
In particular, the CoinMarketCap report found that in the Americas and Europe regions there was more than 50% growth in the number of women in the crypto ecosystem.
But, more interesting still, he observed a staggering growth of over 80% in the number of women joining the crypto market in countries like Colombia, Venezuela, Romania, and Greece.
They are interesting data because the world of cryptocurrencies was previously classified as a territory inhabited mostly by men. However, it seems that as the crypto market grows, the trend reverses.
The territories of America that observed a significant increase in the number of users are Argentina, Venezuela and Colombia, with rates of + 98.23%, + 80.23% and + 82.03%, respectively.
In Europe, countries such as Greece, Romania and Portugal experienced growth of 163.67%, 145.09% and 89.95%, respectively, the CoinMarketCap report noted.
Young people take the crypto market
Just as the crypto market was previously considered to be a mostly male territory, it was also defined as having little youth participation. Now, the CoinMarketCap report seems to find that all trends are reversing.
“In relation to the segment of young users (18-24 years old), the continent of Oceania experienced the highest percentage jump of 151.95%, followed by Africa with 91.47%”, indicates the report.
Some of the main nations that CoinMarketCap found in its report with at least 80% growth in the number of users between 18 to 24 years old are:
- Nigeria (+ 210.6%).
- Australia (+ 158.07%).
- Spain (+120.71).
- Canada (+112.45).
- Mexico (+97.33).
- UK (+ 91.48%).
- Colombia (+85.07).
- India (+ 83.07%).
- Pakistan (+ 81.79%).
What does increased interest in cryptocurrencies mean?
The main conclusion of the report is that these data reflect the evolution of the crypto market, which, although still incipient, continues on its way.
“It is still too early to predict the role and fate of crypto, as it could have a different meaning for different groups of people, depending on the economic and social climate in which they live,” notes the report.
The data tells us that the crypto market continues to work as a magnet that attracts people from all corners of the world. Consequently, the CoinMarketCap report shows us that cryptocurrency interest remains dormant.