The recent data from a crypto exchange report outlines the reason for the high interest regarding crypto among Europeans.
In the United Kingdom, the adoption of crypto and such digital assets has reportedly gone up to 33% of the consumers in the country who either had or have invested in cryptocurrencies. However, this current figure is more than 4% of the data six months earlier, and it’s the second-highest statistic in entire Europe, after the Netherlands, of course, where stats show the crypto user base of citizens by 47%.
The data recorded was obtained from the analysis done after every six months on behalf of crypto exchange Coinbase by Qualtrics. The agency found out that the percentage of people who already have ownership of cryptocurrencies and plan to increase their crypto portfolio within the upcoming year has gone up from 54% in October last year to 61% recently.
About two-thirds of that group has plans to increase the cryptocurrency position they are already holding, while only 23% wish to expand into other new assets. Perhaps, this is the reflection of the grouping or tribalism in the crypto market that was noted last month by the CEO of Ripple network. For instance, many bitcoiners still prefer to stick with bitcoin exclusively and view other options as different or invaluable fundamentally.
At present, Bitcoin (BTC) and Ethereum (ETH) are still among the crypto assets owned by people commonly. That possesses at least 75% for bitcoin and 52% for ethereum approximately. However, Dogecoin (DOGE) comes ahead of Binance Coin with approx 34% in comparison to the latter’s 33%, even though it’s the 12th largest market cap cryptocurrency. This is assumed to be the infamous reflection of Dogecoin, which is second only to the flagship cryptocurrency, bitcoin, as per the Grayscale report.
The Coinbase report also measured the understanding perceived by the consumers who have various crypto assets. It started with about 11% of those who were in the survey thought they had a good understanding of cryptocurrencies beyond, let alone bitcoin. This figure is more likely to be similar to 13% of those who think they understand traditional investment assets.
It’s quite possible, in fact, that understanding of crypto is not lacking; instead, it’s simply generational. Famous billionaire hedge fund manager Paul Tudor Jones said in a recent interview that he is long on crypto, considering it an intellectual capital that in entering the industry just like leaving college today.
Source: https://www.thecoinrepublic.com/2022/05/06/how-did-crypto-usage-reach-every-third-british-citizen/