A new study by the Australian crypto resource site Coinformant tracked crypto interest worldwide and showed the fastest growing crypto hotspots of 2021.
Coinformant’s Crypto Interest Index used analysis of four factors to determine the fastest growing crypto hotspots: volume increases in Google searches for crypto, increases in articles published about crypto, increases in engagement with articles on crypto, and countrywide percentages of crypto ownership.
Each country was given a normalized score out of 10 for each of these factors. An average was then taken of all four scores.
Indonesia was given the highest crypto interest score largely due to its increase in search volume (575.2%) and massive increase in engagement with crypto articles (1,772%). Currently, 7.3 million Indonesians own crypto, equal to about 2.66% of the population.
Chile snagged the number two spot with a crypto interest score of 5.26%. Chile showed the highest increase, 707.1%, in crypto-related Google searches, as well as the fifth-highest increase in articles published about crypto.
The study listed Argentina as the third fastest-growing crypto hotspot due to across-the-board increases in articles published about crypto, engagement with crypto articles, and annual search volume.
A number of countries claimed the number one spot for one factor but saw low or no growth in the others. For example, Ukraine has the highest percentage of crypto owners in the world — 12.73% of the population owns crypto. Despite this, Ukraine did not see a particularly significant increase in search volume compared to other countries and even saw a 1.2% decrease in articles published about crypto.
India, which was given the number seven spot overall, has the highest number of individual crypto owners, with 100 million Indian residents holding crypto; however, due to India’s large population, this equates to only 7.30% of the population.
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