Report: Indonesia leads global surge in interest in crypto


Amid the ongoing growth in cryptocurrency adoption worldwide, countries like Indonesia and Chile have seen a significant influx of public interest in cryptocurrencies like Bitcoin (BTC), according to new data.

According to an Oct. 15 report by Australian blockchain education startup Coinformant, Indonesia has been leading the world in crypto interest dynamics in 2021.

The fastest growing crypto hotspots. Source: Coinformant

In Coinformant’s report, Indonesia achieved the highest crypto interest score of 5.73 out of 10, beating other counties in a combination of four factors like the number of Google searches, the amount of published crypto articles, engagement level increase and crypto ownership. Chile ranked second with a score of 5.26, with Argentina following with a score of 4.79.

Citing data from engagement platform BuzzSumo, Coinformant calculated that ​​Indonesia has seen a massive 1,772% increase in the number of people engaging with articles about cryptocurrency year-over-year (YOY). The number of published crypto articles in Indonesia surged 133%, while Finland saw the largest such increase of 725%.

Indonesia also was the second-highest-ranking country in terms of increase in crypto-related Google searches over the past 12 months, surging over 572%. Chile reportedly outstripped Indonesia in this metric with 707% more Google searches YOY.

Citing data from Chainalysis’ crypto ownership data, Coinformant’s methodology also includes information on global crypto ownership. The report notes that Ukraine held the highest proportion of crypto, with more than 12% of the population owning cryptocurrencies.

Related: Report: Driven by DeFi, North America’s crypto volume increased 1,000% year-over-year

Despite Indonesia winning the race in terms of overall crypto interest surge, the United States has been consistently the largest country in terms of crypto engagement and other factors, a spokesperson for Coinformant noted. “This report is about countries with the highest increase of these measures this year and it's worth noting when looking purely at volume, the USA consistently comes number one,” the representative said.

Despite putting a blanket ban on crypto payments back in 2017, Indonesian authorities have been kept cryptocurrency trading legal. In August, Pintu, a major Indonesian cryptocurrency wallet and trading platform, raised $35 million from some of the biggest investors in the crypto and blockchain industry.


Like it? Share with your friends!

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
admin

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format