The Flippening - Ethereum Has Overtaken Bitcoin in 26% of Countries Worldwide

CoinText.com have compiled a study of the popularity of cryptocurrencies across nations, which concludes that Ethereum investors outnumber Bitcoin investors in 26% of countries worldwide, including the USA.

This provides fresh impetus to the The Flippening debate, and highlights the different beliefs around the globe surrounding certain cryptocurrencies. 

Alternate Economic Landscapes

Digging deeper, the analysis shows that American Bitcoiners are also outnumbered by Dogecoin investors, with the USA containing the highest number of DOGE investors worldwide. This contrasts starkly with Argentina, for example, who possess a higher portion of Bitcoin investors than any other country, perhaps in response to the crippling inflation currently hampering the South American nation. 

David Merry, CEO of Investoo Group, the parent company of CoinText, said the study “is an intriguing look at the psychology of crypto investors in different countries, and how alternate economic landscapes can shift sentiment to and away from Bitcoin and other coins”

Solana vs Ethereum

Other conclusions the study arrives at include the fact that more Japanese investors hold Solana than Ethereum, displaying a stout belief that Solana ultimately offers a better platform within the realm of DeFi. Singapore, meanwhile, appear to be the most bullish nation on Ethereum. 

The data in the CoinText study dates from January 2022, and is derived from a survey of 27 countries. Results are weighted using Google's interactive ranking process, reflecting the national population distribution in each country. The coins examined - Bitcoin, Ethereum, Solana, Dogecoin and XRP - are among the biggest coins in the space, and encompass some of the main sub-sectors of the crypto market: Bitcoin, DeFi, NFTs & memes.

“Investors worldwide are a diverse bunch, all coming from different macro landscapes”, Merry added. “They seek contrasting avenues in deploying their capital, and each country has contrasting risk/reward, cultural and economic parameters which they are working within - the variant data among nations here only backs this up”. 

Data source: https://cointext.com/news/the-flippening-ethereum-has-overtaken-bitcoin-in-26-of-countries-worldwide/

About CoinText

CoinText.com comprises a team of cryptocurrency and blockchain experts & enthusiasts, who educate and inform readers on the many complex and challenging aspects of cryptocurrency. CoinText publish a range of guides on trading, investing, mining, and purchasing cryptocurrencies on the Cointext website: http://cointext.com