Indonesia leads the surge in global interest in cryptocurrencies

As the global adoption of cryptocurrencies continues to grow, countries such as Indonesia and Chile have seen a significant influx of public interest in cryptocurrencies such as Bitcoin (Bitcoin), according to the new data.

According to friday report Developed by Australian blockchain education startup Coinformant, Indonesia has been a world leader in cryptocurrency interest in 2021.

The fastest growing encryption hotspot. Source: Coinformant

In the Coinformant report, Indonesia scored the highest cryptocurrency interest score with 5.73 points (out of 10 points), beating other countries in a combination of four factors, including the number of Google searches, the number of published encrypted articles, and the degree of participation Increase and encrypt ownership. Chile ranked second with 5.26 points, followed by Argentina with 4.79 points.

Coinformant cites data from the participating platform BuzzSumo and calculated that the number of people participating in cryptocurrency articles in Indonesia has increased by 1,772% year-on-year (YOY). The number of encrypted articles published in Indonesia surged by 133%, while Finland had the largest increase at 725%.

In terms of the increase in Google search volume related to encryption in the past 12 months, Indonesia is also the second-ranked country, soaring by more than 572%. According to reports, Chile surpassed Indonesia in this indicator, and Google search volume increased by 707% year-on-year.

Quoting data from Chainalysis’s encrypted ownership data, Coinformant’s method also includes information about global ownership of cryptocurrencies. The report pointed out that Ukraine has the highest percentage of cryptocurrencies, with more than 12% of the population owning cryptocurrencies.

related: Report: Driven by DeFi, North American cryptocurrency trading volume increased by 1,000% year-on-year

A Coinformant spokesperson noted that although Indonesia has won the competition in terms of overall cryptocurrency interest surge, the United States has always been the largest country in terms of cryptocurrency participation and other factors. “This report is about the countries with the largest increase in these measures this year. It is worth noting that purely quantitatively, the United States has consistently ranked first,” the representative said.

Although put one Entirely banned crypto payments As early as 2017, the Indonesian authorities legalized cryptocurrency transactions. In August, Pintu, Indonesia’s main cryptocurrency wallet and trading platform, $35 million raised Some of the biggest investors from the crypto and blockchain industries.