A recent study that was propped by CoinGecko focused on analyzing the concentration of Bitcoin and Ethereum traffic in various states of the United States and revealed an interesting dynamic in the crypto industry. It seems that the vast majority of crypto enthusiasts are from California. The state dominates the table with over 43% of all web page traffic on CoinGecko.
Other states have single digits in the percentage of interest. Some exchanges revealed in the past that California is indeed the hotspot for Bitcoin and Ethereum transactions. It can be explained easily by the demographic breakdown of the state where many tech startups and big tech companies operate meaning that tech-savvy people are naturally drawn to this state creating a perfect environment for sharing information about crypto projects.
Other states that also have high rates of searches on CoinGecko are Illinois, New York, Florida, Washington, and Texas. No surprises here as well. Texas and Illinois are two destinations for miners while NY and FL are two densely populated areas with a significant number of people living in metropolitan areas. Urban folks tend to be interested in crypto.
This news is a positive one and shows that the interest is here. Many people are interested in various cryptocurrencies and how to invest in them. On the other hand, the lack of interest in other states means that we are still far from adopting digital currencies. The rest of the country is simply unaware of digital assets in general or requires in-depth education about Bitcoin and Ethereum before they can even think about using them. Idaho, Maryland, and many other states with mostly rural populations are way behind in terms of interest in crypto.
The same pattern is likely to be present in other countries. Crypto enthusiasts are often concentrated in urbanized areas with lots of people who use advanced technology daily and understand the value of having digital currencies. What we must do as a community is to keep educating others about the benefits of using Bitcoin and Ethereum as both payment mediums and investments that allow us to hedge against inflation.