California Is The State In The US Most Interested In Bitcoin And Ethereum

California may be America’s most curious state for Bitcoin (BTC) and Ethereum (ETH), new data from Statistics and Data/CoinGecko has revealed.

Statistics and Data report state that internet users from California make up 43% of all Bitcoin and Ethereum web traffic on the crypto-tracking website. However, the statewide population is only 11.9% of the US population.

Bobby Ong, COO and co-founder of CoinGecko, says it’s not surprising that California takes the crown in blue-chip crypto interest, with its position as a “major tech hub.”

California is also home to Silicon Valley, one of the world’s major innovation and technology centers. Apple, Google, Meta, PayPal, and Wells Fargo are among the largest firms in Silicon Valley to have invested in blockchain-based apps and crypto startups.

Coinbase was one of the first significant cryptocurrency startups to have its headquarters in California. However, it no longer does. Some of the most recent Web3 initiatives are Graph, Helium, MakerDAO, and dYdX.

Many famous universities with great engineering and technology departments, such as Stanford University, the California Institute of Technology, and the University of California Berkeley, are also located in California.

CoinGecko also noted that other states with a strong interest in these two cryptocurrencies include Illinois, New York, Florida, and Washington, followed by Pennsylvania, Texas, Virginia, Georgia, and Arizona.

Across the top 20 states, most searches on the site appear to be weighted for Bitcoin; however, data shows that four specific states have more Ethereum searches than its competitors.

Ong explained:

“What’s especially notable is Colorado, Wisconsin, New Jersey, and Florida’s interest in Ethereum over Bitcoin. It remains to be seen how these rankings and market shares will play out in the coming months, with Ethereum’s Merge around the corner.”

The data was collected from May 2 to August 21, 2022, and only collects web traffic data from the United States. The data is indexed on a scale of 0 – 100, with 100 representing the highest score of web traffic (California) relative to other states.

On a global scale, the US shared the top spot with Germany regarding crypto-friendly regulation and legislation, beating out Singapore, Australia, and Switzerland, according to crypto data aggregator Coincub.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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