Ethereum has overtaken Bitcoin in 26 % of the countries worldwide

• 26 % of nations have more Ethereum investors than Bitcoin, including the USA

• Argentinians are the largest Bitcoin maxis, with 73 % of the cryptocurrency investors holding the coin, while inflation in the country skyrocketes
• Meme mania is the highest in the USA, with more American Dogecoin investors than in any other country
• Japan is the most optimistic when Solana Ethereum is depressed as king of defi

Introduction

Bitcoin was once the only cryptocurrency in the world. Since then, however, the industry has played a long way, and today we have over 18,000 cryptocurrencies that serve a large number of applications.

Some have set themselves the goal of competing with Bitcoin, while others have almost nothing to do with it. We have meme coins like Dogecoin and Shiba who have conquered the world by storm. We have the burgeoning industry from Defi, where Ethereum is a leader, but Solana did some ground last year. And in truth we have almost everything in between.

We were curious about which coins are most popular in which countries, so we put together the following analysis to see what the results were. It should be noted that the study focuses on the two large cryptos - Bitcoin and Ethereum - as well as Dogecoin, Solana and XRP. The data date from January 2022 and are derived from it Finder.com survey in 27 countries. The results are weighted using Google's interactive ranking process and reflect the national population distribution in every country.

the flipping

The flipping singing is a term that is assumed by crypto enthusiasts, which foresight that Ethereum Bitcoin will overtake the world's greatest cryptocurrency. It usually refers to market capitalization, although ETH would have to double with $ 362 billion to put the $ 764 billion worth in the shade.

However,

seven of the 27 countries surveyed seem to believe that Flippening has a chance because more investors in these countries keep Ethereum as Bitcoin. This even includes the United States, where 31.7 % of the crypto investors keep the creation of Vitalik Buterin, compared to only 22.8 %, the Satoshi's idea.

The fact that none of the other coins - Dogecoin, Solana, XRP - was the most popular coin in any country was also remarkable, which shows that there are many large two when it comes to cryptocurrency.

Argentina are Bitcoin Maxis

As the graphic shows below, Argentina is the largest Bitcoin maximum, with huge 72.7 % of investors keeping top crypto. The second most popular coin among investors is Ethereum, but only 14 % of the investors hold them. This means that the difference of 58.7 % is the highest observed in a country.

This is particularly moving if you look at the inflation in Argentina, which is paralyzing 55.1 % during last year. Of course, the narrative "Bitcoin is an inflation protection" is one of the largest bull arguments around the coin, with the hope that it can eventually become a value preservative that resembles digital gold. The data indicate that the susceptibility of the Argentine peso leads to more and more Argentinians from the currency to flee Bitcoin.

However,

If you look at the on-chain activity of both Bitcoin and Ethereum, Bitcoin remains dominant. There are about 600,000 every day active etheric addresses around the world compared to 850,000 for Bitcoin.

On the positive side for Ethereum lovers, it must be noted that the gap has decreased. A look at the following graphic shows that the difference between active addresses on Ethereum and Bitcoin has closed over time.

worldwide address activity for Bitcoin & Ethereum, data about Intotheblock

Singapore awaits flipping singing

At the other end of the scale to Argentina, Singapore is located, which is the highest proportion of Ethereum investors compared to Bitcoin investors.

While only 28.4 % of Singapore crypto investors hold Bitcoin, 43.5 % Ethereum, a gap of 15.1 %-the highest of all nations. Since the Ethereum merges are getting closer, Singapore will keep the breath away than any other nation, hoping for a price increase as soon as the big updates are live.

Remarkably, the United States is actually just behind with 31.7 % of investors who hold ETH, compared to 22.8 % that are invested in Bitcoin. This is a data point that we did not expect, but it shows that Ethereum really joined Bitcoin as a "Blue Chip" cryptocurrency.

The other countries that Ethereum prefer to Bitcoin are Vietnam (minor), Russia, South Africa and Great Britain. However, it is worth noting that this data was recorded before the Russian invasion in Ukraine, so it will be interesting to visit it again and to see whether Ethereum is still more popular than Bitcoin in view of the recent volatility of the Russian ruble.

old coins

we forget Bitcoin and Ethereum for a second. Apart from these two, which countries prefer which cryptos?

The card below shows that it is relatively tight, but Dogecoin seems to be the next challenger, most likely thanks to a certain Elon Musk.

Memecoin was the most frequently held old coin from the data record, with 12 of the 27 countries surveyed more of the dog brand than any other altcoin. Next came XRP, which was the most popular in 9 of the 27 countries, while Solana was at the top of the ranks in the remaining 6 countries.

The USA want to send Doge to $ 1

More than any other country, it is the USA that want to send Doge to $ 1, as the Meme campaign hopes. A whopping 31.6 % of American crypto investors hold Doge, which means that it is just behind the country's most popular crypto-Ethereum is number one with 31.7 %.

This is an astonishing number and with ease the 22.8 % of American investors who hold Bitcoin. It speaks volumes for the meme madness, which the United States has grasped more than any other country during pandemic. The consequences of the entire talk of "voice" Scheck, which are pumped in Doge, viral campaigns by Elon Musk and Robinhood Mania are clearly visible in the Doge investor statistics.

On the other hand, Japan is the most unfriendly, with lean 5.5 % of investors who hold Dogecoin, 7.5 times less than the number of investors who hold Bitcoin. Perhaps all Elon memes have been lost in the translation?

Norway & Japan all on board the ETH-Killer narrative

But Japan is not just something for Bitcoin investors. In fact, they are actually the most optimistic when Solana Ethereum emerge as King of Defi, as the following graphic shows.

Solana has 10.2 % more Japanese investors than Ethereum - the highest of all nations. The ETH killer narrative is therefore alive in Tokyo.

Norway is also optimistic about Solanas higher transactions per second and lower fees that ultimately distract the capital of Ethereum, since they are in second place with 7.2 % more Norwegians who hold SOL than ETH.

The number of Solana investors in Norway is actually the highest at 24.9 % (Japan has 22.6 %), but the difference to Ethereum is greater in Japan.

It should be noted that 7 of the 27 countries surveyed had more Solana investors than Ethereum, with Mexico, Venezuela, the Philippines, Ghana and Colombia in Japan and Norway. For those among them who are geographically weak, this is a collection of countries from all continents of the world except Australia (which funnily has the largest gap between ETH and Solana investors, with 34.5 % more Australians that keep ETH).

FAZIT

The data draw interesting images about which countries all over the world prefer which cryptos and how different demographies have different investment focuses.

in Argentina, a country that is plagued by a rampant inflation, Bitcoin rules first. On the other hand, the immense cultural effect of memes in the USA shows that more investors keep Dogecoin than Bitcoin.

seven countries prefer Ethereum to Bitcoin, while other nations - led by Japan and Norway - Solana think for better choice within Defi.

The world is full of wonderful and different people with many different opinions and needs-something that clearly emerges from the crypto investor data.