Indonesia is leading the way in increasing global interest in cryptocurrencies

According to new data, countries like Indonesia and Chile have seen a significant surge of public interest in cryptocurrencies, electronic like Bitcoin (BTC), amid the continued growth in global adoption of cryptocurrencies.

15 Report by Australian Blockchain Education Startup Coinformant, Indonesia Leads the World in Crypto Interest Dynamics in 2021.

In the Coinformant report, Indonesia scored the highest score for crypto interests at 5.73 out of 10, beating other districts thanks to a combination of four factors such as the number of Google searches, the number of crypto articles published, increased engagement and crypto Possession. Chile ranks second with a score of 5.26, followed by Argentina with a score of 4.79.

Citing data from the BuzzSumo engagement platform, Coinformant calculated that Indonesi saw a significant year-on-year increase in the number of people interacting with crypto items, up 1,772% (YOY). The number of crypto articles published in Indonesia rose 133%, while Finland saw the largest increase at 725%.

Indonesia is also the second highest country in terms of the increase in crypto-related searches on Google over the past 12 months, up more than 572%.

With this key figure, Chile is said to have lagged behind Indonesia with 707% more searches on Google compared to the same period in the previous year.

Relying on data from Chainalysis’ cryptocurrency ownership data, Coinformant’s methodology also includes information on global ownership of cryptocurrencies. The report finds that Ukraine owns the highest percentage of cryptocurrencies, with more than 12% of the population owning cryptocurrencies.

Related: Report: Driven by DeFi, North America’s crypto volume is up 1,000% year over year

Although Indonesia won the race to raise crypto rates across the board, the United States has consistently remained the largest country in terms of crypto participation and other factors, a Coinformant spokesman said. “This report is about the countries with the highest increase in these measures this year, and it is worth noting that the US is consistently in the lead in terms of volume,” said the representative.

Despite a complete ban on crypto payments in 2017, Indonesian authorities kept crypto trading legal. In August, Pintu, a major Indonesian crypto exchange and wallet, raised $ 35 million from some of the largest investors in the crypto and blockchain industry.