In today’s world, the market of cryptocurrencies has flourished to a great extent. So, according to CoinGecko, we can indeed say that the Golden State of California may be America’s most inquisitive state about Bitcoin and Ether. Therefore, in a report shared by CoinGecko, internet users from California have accounted for a whopping 43% of all Bitcoin and Ethereum web traffic searches.
So this data is despite the entire state population. In fact, it takes into account only 11.9% of the United States population. So one of the chief operating officers and co-founders of CoinGecko said it was “unsurprising” for California to take the crown in the blue chip crypto interest. It has currently achieved the status of a “major technological hub.”
Therefore, let us share more details regarding all these aspects in this article. Stay with us until the end to know some of the significant aspects.
Why are The People in The United States Interested in Bitcoin & Ethereum?
As you know, California is home to one of the largest technological hubs, Silicon Valley. So among the largest companies situated in Silicon Valley that have invested in blockchain-based apps and crypto start-ups include Apple, Google, Meta, PayPal, and Wells Fargo.
Moreover, the centralized exchange Coinbase was also one of the first major crypto companies to have headquarters in California. At the same time, The Graph, helium, and a few others are among some of the latest Web3 projects.
At the same time, various prestigious universities in California provide great engineering and technology departments. For instance, Stanford University, California Institute of Technology, and others.
So naturally, people of this country will be pretty eager to invest in cryptos like Bitcoin and Ethereum, unlike in other places.
What Kind of Data Did CoinGecko Gather?
Apart from the points mentioned earlier, CoinGecko has added a lot of its findings. They have also noted that other than California, there are other states as well. They include Illinois, New York, Florida, and Washington. In fact, states like Texas, Virginia, Georgia, and Arizona are also present on the list.
In fact, according to CoinGecko, across the top 20 states, the most searched crypto on the website was Bitcoin. However, the data found that four different states had more searches for Ethereum. So these include Colorado, Wisconsin, New Jersey, and Florida.
Moreover, according to Ong, it will take some time for us to figure out how these rankings and market shares will play out in the upcoming months. CoinGecko collected the data between May 2 to Aug 21, 2022. They had, in fact, indexed the data on a scale of 0-100, with 100 representing the highest point of web traffic. This was undeniably California.
Ending Note
So by now, you must have understood why people in the United States are highly interested in cryptos than other places. In fact, among all the states, California remains at the topmost position. This state in the USA has the most people resorting to either Bitcoin or Ethereum.
Also read: UBS Raising US recession odds to 60% And The Crypto Market
