CoinMarketCap has published data on the countries with the most interest in cryptocurrency development, with Nigeria, India, and Pakistan among the countries mentioned.
Cryptocurrency Demand Growth Reported in Nine Countries
Crypto data provider, CoinMarketCap, provided information on the countries with the most substantial rise in the number of cryptocurrency users. According to their numbers, India, Pakistan, Colombia, Canada, and Nigeria are some of the list’s names.
The firm clarified that it had collected data from its recent market capitalization data and customer insights leveraging its large user base. CoinMarketCap has reported two important developments that arose after the market collapse on March 12.
The first trend revealed was that the number of female users on the site increased by 43.24 percent in the first quarter of the year. The other common statistic is that the number of young users (between 18 and 24) has grown by 46.04 percent during the same period. CoinMarketCap points out that the continent of Oceania has the highest percentage leap of 151.95 percent in the youth consumer group. Africa ranks second, at 91.47 percent. The other major continents are the Americas, Asia, and Europe.
CoinMarketCap listed nine countries with the largest increase in young users’ number in the first quarter of the year. All nine countries had a growth rate of over 80%. Nigeria was leading the way, with a rise of 210.6 percent. Australia is following it closely with a growth of 158.07 percent and Spain with a growth of 120.71 percent. Many leading countries in this group include Canada (112.45 percent), Mexico (97.33 percent), the United Kingdom (91.48 percent), Colombia (85.07 percent), India (83.07 percent), and Pakistan (81.7 percent).
Greece leads the way in female users
The number of female users on CoinMarketCap has also increased considerably over the last three months. CoinMarketCap reported that while the number of female users has consistently increased, this group has seen especially strong growth of 43.24% compared to the previous quarter.
Americas and Europe are responsible for the bigger number of female consumers, with over 50% increase in each continent during the first quarter of the year. Africa and Asia had the lowest female participation rate of growth.
The nine countries with the largest growth in the number of women users over the last quarter include Greece, which has led to a 163.67 percent increase. Romania, with 145.09 percent, and Argentina, with a 98.23 percent rise in usage, was closely tracked. Portugal (89.95 percent), Indonesia (88.92 percent), Ukraine (86.68 percent), the Czech Republic (85.6 percent), Colombia (82.03 percent), and Venezuela (80.23 percent) have completed the list of the top nine countries.
Final Thoughts on CoinMarketCap
CoinMarketCap is one of the most commonly used websites to obtain information on cryptocurrencies, market prices, and other economic data. Despite claims of fraudulent data collection, CoinMarketCap continues to be used by millions of cryptocurrency enthusiasts around the globe. CoinMarketCap was recently purchased by Binance Capital Management, the holding company of the world’s biggest cryptocurrency exchange site.
The increase in the number of young people and women interested in cryptocurrencies indicates that the demographics of the sector are still evolving. The dream of bitcoin and other cryptocurrencies achieving mass acceptance will only happen if both men and women of all age groups continue to use them with ease for a wide range of activities.