Study: Nigeria Most Crypto-Obsessed English Speaking Country Globally

Study: Nigeria Most Crypto-Obsessed English Speaking Country Globally

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:

Tags in this story Bobby Ong, BTC, bull cycle, buy crypto, buy the dip, CoinGecko, Cryptocurrency, ETH, Polygon, Solana

What are your thoughts on this story? Let us know what you think in the comments section below. Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Mastercard Views Crypto More as Asset Class Than Form of Payment FEATURED | 7 hours ago Microstrategy Outperforms Every Asset Class and Big Tech Stock Since Adopting Bitcoin Strategy, Says CEO FEATURED | 9 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCBDC Could Be ‘Holy Grail’ of Cross-Border Payments, ECB Says, Sees Bitcoin as Less Credible 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. Bitcoin.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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Iran to Increase Penalties for Unauthorized Cryptocurrency Mining Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design