Survey: UK Crypto Adoption Increases 1% in December, ETH Holds 3rd

According to a survey conducted by Finder.com in December, the United Kingdom ranked third in the global Ethereum adoption rankings, while overall cryptocurrency adoption rose by only 1%.

At the end of 2021, UK crypto enthusiasts are busy consolidating and rebalancing their portfolios. Finder.com surveyed 2013 internet users in the UK in December 2021 and the results were varied.

Since the last survey conducted in October 2021, cryptocurrency holdings in the UK have risen by 1 percentage point from 5.2% to 6.1%, while ethereum’s dominance continues to emerge.

The UK has the third-largest share of ethereum among cryptocurrency holders with a 32.9% share, behind Singapore and Australia, and XRP is the third most widely held cryptocurrency with a 17.4% share.

Curiously, interest from the 27 countries surveyed by Finder.com showed that the global average adoption rate of Ethereum dropped from 28.2% in October to 24.4% in December. Global ETH holdings are down, while UK ETH holders are holding their ground.

Bitcoin topped the list with a 42.8% share, but it also showed weakness. While the 42.8% figure almost mirrors Bitcoin’s dominance, it has plummeted from a high of 56.7%.

Survey: UK Crypto Adoption Increases 1% in December, ETH Holds 3rd

The entire cryptocurrency market fell sharply in December, and analysts’ predictions for BTC to hit $100,000 in 2021 did not materialize. Sentiment in the crypto market has been bearish since Bitcoin first fell to $42,000 in early December.

The macro bearish trend appears to be reflected in the UK’s crypto behavior. There has been some sell-off and portfolio rebalancing ahead of the new year. Bitcoin holdings fell; Solana’s holdings climbed to 15%; Dogecoin gained 1%.

Curiously, Bitcoin holdings have generally declined globally. Only one country saw an increase in bitcoin holdings from October to December, with Australia’s bitcoin dominance rising to 72.7%. It is also the country with the highest percentage of cryptocurrency owners in the world holding Bitcoin.

Consistent with Cointelegraph’s report last October, emerging markets continue to show the strongest indicators of a cryptocurrency adoption bubble. In December, Russia, Colombia, the Philippines and India were among the top five growing cryptocurrency holdings. Detailed statistics and insights are expected to be released later this month.

The UK, however, has been slow to grow in cryptocurrency holdings, up just 1%. While this is still positive, global cryptocurrency holdings have grown by an average of 4.3%, putting the UK in the fifth-lowest spot among the countries surveyed.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/survey-uk-crypto-adoption-increases-1-in-december-eth-holds-3rd/
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