According to a report shared by CoinGecko, California internet users account for a whopping 43% of all Bitcoin and Ethereum web traffic searches on cryptocurrency tracking websites. This is despite the fact that the state as a whole makes up only 11.9% of the population of the United States.
Bobby Ong, Chief Operating Officer and Co-Founder of CoinGecko, said that given its status as a “major tech hub,” California’s top spot for good cryptocurrency profits was “surprising.” not,” he said.
California is also home to Silicon Valley, one of the world’s largest technology and innovation hubs.
Some of the largest companies in Silicon Valley that have invested in blockchain-based applications and cryptocurrency startups include Apple, Google, Meta, PayPal and Wells Fargo.
Centralized exchange Coinbase was one of the first major cryptocurrency companies to be headquartered in California, although it is now headquartered. The Graph, Helium, MakerDAO, and dYdX are some of the latest Web3 projects to exist in the Golden State.
Many prestigious universities with excellent engineering and technology departments are also located in California, such as Stanford University, Caltech, and the University of California, Berkeley.
CoinGecko also noted that other states with strong interest in the 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 websites appeared to be Bitcoin-focused. However, the data showed that his four states in particular had more searches for Ethereum than his competitors.
“It is particularly noteworthy that Colorado, Wisconsin, New Jersey, and Florida are more interested in Ethereum than Bitcoin,” Ong explains.
“With the Ethereum merge on the horizon, it remains to be seen how these rankings and market shares will play out in the coming months.”
Data was collected between May 2nd and August 21st, 2022, and only web traffic data from the United States was collected. The data is indexed on a scale of 0-100, with 100 representing the point with the highest web traffic (California) compared to other states.
The findings, according to a recent Study.com survey, revealed that more than 64% of US-based parents and college graduates have a good understanding of blockchain technology. I want you to tell me the code in a classroom at school.
Globally, the United States shares the top spot with Germany. crypto-friendly regulations and laws, It shares the top spot with Germany, beating out Singapore, Australia and Switzerland, according to crypto data aggregator Coincuba.