Countries remain interested in the digital asset, even after the massive drop in major cryptocurrencies. A study by price tracker CoinGecko provides interesting insights into how some countries are still curious about cryptocurrencies despite market volatility.
Nigeria, Africa’s most populous country, topped the study by the most curious nation about cryptocurrency.
The West Asian nation scored 371 in the study, which monitored Google Trends for six searches such as “buy crypto” or “invest in crypto”, etc. Nigeria is followed by the United Arab Emirates (UAE) and the financial center of the world, Singapore, which had the most searches on Ethereum.
“This study provides interesting insight into which countries are most interested in cryptocurrencies despite market volatility,” CoinGecko co-founder Bobby Ong said in an emailed statement.
According to Bloomberg news agency, “countries that top the list are eager to buy the downside and highlight their long-term outlook for cryptocurrencies.”
In June this year, the Nigerian Stock Exchange decided to go ahead with a blockchain enabled platform to deepen trading and attract young investors. The exchange aims to launch the platform by next year.
This comes after the Nigerian Central Bank ordered commercial banks to stop trading in cryptocurrencies in early 2021. The central bank cited threats to the financial system.
With inputs from Bloomberg.
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