The entire crypto industry has been experiencing a winter since the last quarter of 2021. Some cryptocurrency prices saw massive price drops, with many falling by over 65%. However bad things may look, crypto may not die out as its popularity hasn’t waned.
A recent study by CryptoManiaks, a crypto education platform, shows that Turkey and the Netherlands top the list when it comes to cryptocurrency awareness. According to the survey, 5.5% and 8.2% of the population in Turkey and the Netherlands searched for crypto-related terms. Turkey accounted for 4.7 million searches, which tops the chart with large numbers.
Turkey has made huge improvements in crypto adoption since early 2022. A 2022 study by Turkish crypto exchange Paribu estimates that at least 8 million people in Turkey are engaged in crypto. Turkish President Recep Tayyip Erdogan spoke about the benefits of blockchain innovation. In his statement, Erdogan added that Turkey wants to be a producer of digital assets, not a consumer.
DOGE outperforms Ether in terms of user curiosity in Turkey
The latest CryptoManiaks study analyzed the number of searches for a few selected cryptocurrencies. They plotted the number of cryptocurrencies as a percentage of the population for each country to calculate monthly local searches.
Turkey ranked second and first in the overall study with 812,000 monthly searches related to Dogecoin. According to the survey, the number of searches for Dogecoin doubled versus Ethereum, the third most searched crypto in the country.
CryptoManiaks spokesperson commented on Dogecoin’s rising curiosity over the past 12 months. He said Dogecoin’s popularity has significantly surpassed Ethereum’s with almost 2 million monthly searches worldwide.
DOGE became popular after Elon Musk revealed plans to make it the official token for Twitter monetization. As a result, the price of the memecoin surged to an all-time high within the week following Elon Musk’s full official takeover of the social media platform.
The survey included not only DOGE and Ethereum. It also included Solana, BNB, Bitcoin and others. After Turkey and the Netherlands, Canada, Germany and the Czech Republic follow in the ranking.
Dogecoin records lower gains l DOGEUSDT on Tradingview.com
The bear market hasn’t dampened people’s interest in crypto
Although the United Kingdom and United States are the world’s leading players in the cryptocurrency industry, none ranks at the top. That’s because the number of searches is insignificant compared to their population size. For example, the United States ranked 15th with 1.9% of the population searching for crypto-related terms, while the United Kingdom came in 12th with 2.6%.
Recent research by Cointelegraph also showed that the bear market did not hurt the interests of several institutions in the crypto industry. According to the report, top institutions remain interested in the cryptocurrency industry and continue to invest millions in crypto-related projects.
Featured image from Pixabay, chart from TradingView.com
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