Using readily available public data for 30 countries, the firm has ranked 25 in terms of four key metrics
Based on reports on cryptocurrency ownership rates and other related data*, a crypto trading platform has derived some findings of its own about trends in the market in 2024.
From the data sources, four key factors were selected for analysis: cryptocurrency ownership rates (35% weightage), adoption growth (30% weightage), crypto-related search activity per capita (25% weightage), and the number of Bitcoin ATMs in the 25 countries shortlisted (10% weightage).
Ownership rate and adoption growth data were deemed to reflect how deeply crypto is integrated into daily life in each country. Search volume is deemed to link to public interest levels, while Bitcoin ATMs indicate physical accessibility.
Due to missing data, five countries had been omitted from the analysis: Venezuela, Ukraine, Slovenia, Luxembourg, and Cyprus.
In the end, a final “crypto-obsession” total score of 100 was created, with higher scores representing stronger engagement. Following is a chart of the final rankings for the top 10:
Some limitations of the analysis are likely to include:
- Observations that Venezuela and Ukraine, two markets known for high crypto adoption due to economic crises (Venezuela’s hyperinflation, Ukraine’s war-related financial disruptions). Luxembourg and Cyprus are small, wealthy nations with advanced financial systems, which could have high per-capita engagement with crypto. Their exclusion could skew the results toward larger nations, as far as the premise of the analysis — “crypto obsession” — is concerned.
