CoinText, a crypto company that educates, informs, and updates crypto enthusiasts on the many complex and challenging aspects of cryptocurrency has just revealed that Ethereum has overtaken Bitcoin in 26% of countries worldwide.
In line with the company’s mission to help potential investors make sound financial decisions by providing updated information and educating them on as many key cryptocurrency issues as possible, CoinText has taken it upon itself to compile a study of the popularity of cryptocurrencies across nations. Meanwhile, conclusions drawn from the study unveil that Ethereum investors have outnumbered Bitcoin investors in 26% of countries worldwide, including the USA.
The study examined leading cryptocurrencies in the market including Bitcoin, Ethereum, Solana, Dogecoin, and XRP.
Apart from comparing the number of global Investors venturing into Bitcoin and Ethereum, CoinText delved further into analyzing alternate economic landscapes. Hence, it was discovered that Dogecoin investors in America have outnumbered those of Bitcoin, with the USA containing the highest number of DOGE investors worldwide.
However, this is not the case with Argentina as it possesses a higher portion of Bitcoin investors than any other country. This could perhaps be in response to the crippling inflation currently hampering the South American nation.
Commenting on the result of the study, the CEO of Investoo Group, the parent company of CoinText, David Merry said the study “is an intriguing look at the psychology of crypto investors in different countries, and how alternate economic landscapes can shift sentiment to and away from Bitcoin and other coins.”
A deeper dive during the course of the study suggests that more Japanese investors hold Solana than Ethereum, hence reflecting a stout belief that Solana ultimately offers a better platform within the realm of DeFi.
Merry’s comment on the study further reads;
“Investors worldwide are a diverse bunch, all coming from different macro landscapes…They seek contrasting avenues in deploying their capital, and each country has contrasting risk/reward, cultural and economic parameters which they are working within – the variant data among nations here only back this up”.
