Ethereum overtakes Bitcoin in 26% of countries worldwide


London, May 5, 2022 — CoinText’s study on the popularity of cryptocurrencies worldwide concludes that Ether (ETH) investors outnumber Bitcoin (BTC) investors in 26% of countries worldwide, including the United States. 

This provides fresh insight into the flippening debate and highlights different beliefs globally concerning certain cryptocurrencies. 

Alternate economic landscapes

Digging deeper, analysis shows American Bitcoin investors are also outnumbered by Dogecoin (DOGE) investors, with the US containing the highest number of Dogecoin investors worldwide. Argentina possesses a higher portion of Bitcoin investors than any other country — perhaps in response to the crippling inflation currently hampering the South American nation. 

David Merry, CEO Of Investoo Group, CoinText’s parent company, 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 Bitcooin and other coins.”

Solana versus Ether

The study also concludes that more Japanese investors hold Solana (SOL) than Ether, displaying a stout belief that Solana offers a better decentralized finance (DeFi) platform. Singapore, meanwhile, appears to be the most bullish nation on Ether.

The data in the CoinText study is from January 2022 and derived from a survey of 27 countries. The results were weighted using Google’s interactive ranking process to reflect the national population distribution in each country.

The coins examined — Bitcoin, Ether, Solana, Dogecoin and Ripple (XRP) — are among the biggest coins in the space and encompass some of the main sub-sectors of the crypto market: Bitcoin, DeFi, nonfungible tokens and memecoins.

“Investors worldwide are a diverse bunch, all coming from different macro landscapes,” Merry said. “They seek contrasting avenues in deploying their capital, and each country has contrasting risk-reward, cultural and economic parameters that they are working in — the variant data among nations here only backs this up.”

About CoinText

CoinText comprises a team of cryptocurrency and blockchain experts and enthusiasts who educate and inform readers on the many complex and challenging aspects of cryptocurrency. The platform has published a range of guides on trading, investing, mining and purchasing cryptocurrencies. 

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