An increased interest in cryptocurrencies is a necessary prerequisite for an increased introduction of cryptocurrencies. A CoinMarketCap report has now identified 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)”, we get information on the website about how the crypto market worked and which notable trends can be seen in the first quarter of the year.
Therefore, the analyzed data comes from theirs “Patented market cap data and user insights from our vast user base.”
With that in mind, CoinMarketCap analyzes what happened to cryptocurrency prices and the events that caused Black Thursday’s collapse. In addition, he examined 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 the number of women in the crypto ecosystem in America and Europe has increased by more than 50%.
Even more interesting, however, is that the number of women joining the crypto market in countries like Colombia, Venezuela, Romania and Greece has increased by over 80%.
They are interesting data because the world of cryptocurrencies was previously classified as an area that is mainly populated by men. However, it appears that the trend is reversing with the growth of the crypto market.
The areas of America where the number of users has increased significantly are Argentina, Venezuela and Colombia with rates of + 98.23%, + 80.23% and + 82.03%, respectively.
In Europe, countries like Greece, Romania and Portugal saw growth of 163.67%, 145.09% and 89.95%, according to the CoinMarketCap report.
Young people are taking the crypto market
Just as the crypto market was formerly seen as predominantly male territory, it was also defined as having little youth participation. Now the CoinMarketCap report seems to find that all trends are reversing.
“In terms of the segment of young users (18-24 years), the continent of Oceania recorded the highest percentage jump with 151.95%, followed by Africa with 91.47%.”specifies the report.
Some of the most important nations that CoinMarketCap found in their report with an at least 80% increase in the number of users between 18 and 24 years are:
- Nigeria (+ 210.6%).
- Australia (+ 158.07%).
- Spain (+120.71).
- Canada (+112.45).
- Mexico (+97.33).
- Great Britain (+ 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 this data reflects the evolution of the crypto market, which is still emerging, but is continuing on its way.
“It is too early to predict the role and fate of crypto, as it could have different meanings for different groups of people depending on the economic and social climate in which they live.” takes note of the report.
The data shows that the crypto market continues to act as a magnet that attracts people from all over the world. As a result, the CoinMarketCap report shows us that interest in cryptocurrency is still dormant.