Following the April cryptocurrency market crash, a new study identified Nigeria as the nation with the greatest interest in cryptocurrencies. According to the same study’s findings, Kenya is the second-best-ranked African nation. The top-ranked nations appear more interested in buying the dip, which emphasizes “their long-term outlook for cryptocurrencies,” according to Bobby Ong, co-founder of Coingecko.
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.
Kenya, with a score of 143, is the next-highest English-speaking country in Africa after the West African country. Kenya is ranked 15th overall. According to the study, BTC, ETH, and polygon are the top three trending cryptocurrencies in the sixth-ranked United Kingdom (198). The United States, one of the largest cryptocurrency markets in the world, is ranked twelfth with a score of 157.
Co-founder and COO of Coingecko, Bobby Ong, commented on the study’s findings as follows:
“This year, we are witnessing a significant correction from previous bull cycle highs, which has led to substantial price declines in a harsh macroeconomic environment. This study offers intriguing information about which nations continue to show the greatest interest in cryptocurrencies despite market declines.