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Slovenia is making headlines in the crypto industry— here’s why

TL;DR

  • Slovenia emerges as the global leader in crypto interest, with an astonishing monthly total of over 118,000 searches on Bitcoin and Ethereum.
  • Ireland and the U.S. are the next most interested countries in cryptocurrencies, with Estonia and countries like Bermuda and Canada also showing significant interest.
  • A surge in USDT, Tether’s stablecoin, held on major exchange platforms, suggests potential market rallies as crypto investors gear up to re-enter the market following significant accumulation.

When it comes to the fervor for cryptocurrencies, Slovenia stands tall as the global leader. A recent study by Marketplace Fairness delved into the intensity of searches related to cryptocurrencies, blockchain technologies, and associated exchange platforms. The results offered some captivating insights.

Slovenia’s unparalleled crypto curiosity

Surprisingly, Slovenia, with just 2.1 million residents, has emerged as a crypto curiosity giant amidst nations with considerable populations. Bitcoin and Ethereum, the two primary cryptocurrencies, rouse an impressive monthly search volume exceeding 118,000 in Slovenia alone. Breaking down these numbers, Slovenians manifest an impressive rate of 6,195 searches per 100,000 residents, outstripping every other nation in the survey.

Besides Slovenia’s robust appetite for crypto knowledge, Ireland secures the second spot. The Emerald Isle, with its population nearing five million, conducts over 210,000 monthly crypto-related searches. This translates to an intensity of 4,193 searches for every 100,000 Irish citizens.

Global cryptocurrency search trends

Further down the list, the United States clinches the third position. The sheer volume of searches from the U.S. is astronomical. For Bitcoin alone, the monthly average nears 10 million, and Ethereum follows with approximately 1.2 million searches. When aggregated, the U.S. contributes to about 12,734,750 monthly searches. However, when adjusted for its vast population, it results in 3,715 searches per 100,000 individuals.

Estonia, a Northern European nation, ranks fourth on the heels of the U.S. Bitcoin-centric searches from Estonia cross 36,000 monthly, leading to an aggregated monthly count of 48,000. When contextualized, it stands at 3,626 searches for every 100,000 Estonians.

Moreover, Canada, Bermuda, Australia, the UK, Finland, and Luxembourg all find notable mentions in the study. Each showcases a marked interest in cryptocurrency, reinforcing its significance and intrigue on the global stage.

Santiment, an on-chain data tracker, highlights a separate development that warrants attention. Their findings underscore a remarkable surge in USDT (Tether’s stablecoin) accumulation by cryptocurrency investors.  According to them, the USDT hoard on major exchange platforms has leaped from 17.6% to 24.7% of the total circulating stablecoin supply. This uptick indicates a rising proclivity of investors to return to the market, hinting at a potential price rally.

Historically, a substantial stablecoin accumulation is a precursor to investors re-entering the markets, especially after a massive market downturn. This trend, combined with Slovenia’s and other nations’ escalating interest in cryptocurrencies, paints an intriguing picture of the crypto industry as we advance through 2023.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Damilola Lawrence

Damilola is a crypto enthusiast, content writer, and journalist. When he is not writing, he spends most of his time reading and keeping tabs on exciting projects in the blockchain space. He also studies the ramifications of Web3 and blockchain development to have a stake in the future economy.

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