A new study has ranked Nigeria as the country most curious about cryptocurrency post the April crypto market crash. The same study findings show Kenya as the second-highest ranked African country. According to Bobby Ong, co-founder of Coingecko, the countries topping the list seem more interested in buying the dip and this highlights “their long-term outlook for cryptocurrencies.”
Nigerian Solana Searches Third Highest Globally
After the cryptocurrency market crashed in April, a new study found Nigeria as the number one ranked country among English-speaking countries that are most interested in cryptocurrency. According to the findings of a study undertaken by Coingecko, Nigeria’s score of 371 surpasses that of second-ranked United Arab Emirates (UAE) by 101, and that of third-placed Singapore by 110.
Elaborating on Nigeria — whose central bank directed financial institutions to block crypto entities from the banking ecosystem — a report released by the crypto price tracker Coingecko states:
Nigeria topped the list for its population having the highest search levels for the phrases ‘cryptocurrency’, ‘invest in crypto’ and ‘buy crypto’ worldwide. Additionally, the population of Nigeria search for the cryptocurrency ‘Solana’ the third most worldwide.
BTC and ETH Trending Cryptos in the UK
After the West African nation, Kenya is the next highest ranked English-speaking African country with a score of 143. Overall, Kenya is ranked number 15. In the sixth-ranked United Kingdom (198), BTC, ETH, and polygon are all trending cryptocurrencies, the report said. With a score of 157, the United States — one of the world’s biggest cryptocurrency markets — is ranked twelfth.
Meanwhile, in his comments on the study’s findings, Bobby Ong, Coingecko’s COO and co-founder, said:
“This year, we see a major correction from previous bull cycle highs, which have resulted in significant price drawdowns in an unforgiving macroeconomic environment. This study provides interesting insight into which countries remain most interested in cryptocurrency in spite of market pullbacks.”
The COO added that countries topping the list seem more interested in buying the dip, therefore highlighting “their long-term outlook for cryptocurrencies.”
Register your email here to get a weekly update on African news sent to your inbox:
What are your thoughts on this story? Let us know what you think in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. EdaFace.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.