The country with the highest interest in cryptocurrencies is Slovenia, according to a study conducted by Marketplace Fairness. Slovenians conduct an extraordinary number of searches for cryptocurrencies, with over 118,000 monthly searches for Bitcoin and Ethereum. This equates to a rate of 6,195 searches per 100,000 inhabitants, the highest among all the countries surveyed. Ireland is the second most interested country, with nearly 150,000 monthly searches for Bitcoin. The United States ranks third, with almost 10 million monthly searches for Bitcoin and 1.2 million for Ethereum.
Other countries showing significant interest in cryptocurrencies include Estonia, Bermuda, Canada, Australia, the UK, Finland, and Luxembourg.
On-chain data tracker Santiment has reported an interesting development regarding the accumulation of USDT stablecoin by cryptocurrency investors. The total amount of USDT held on exchange platforms has recently increased significantly. This indicates growing investor interest in re-entering the market and suggests the possibility of a price rally. The increase in stablecoin holdings by investors typically indicates their willingness to buy digital assets and reflects their purchasing power. This could potentially lead to a market rally in 2023. Typically, investors accumulate stablecoins and wait for an opportune time to reinvest when prices are falling and the market finds support. Initially, these stablecoins are allocated to major cryptocurrencies like Bitcoin and Ethereum before moving to smaller market cap coins.
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