Coingecko.com is considered the aggregation web portal for the crypto market and it published a study on September 2nd highlighting the top 10 American states interested in the two leading cryptocurrencies in the market.
The Coingecko team leveraged the traffic data of the page in order to determine the states in the US that are most interested in Bitcoin and Ethereum.
The data shows that 43% of the traffic that visits the bitcoin and Ethereum pages of the website comes from California.
The study
The researchers at Coingecko carried out research for identifying the top 10 and 20 American states interested in the top two cryptocurrencies between May 2nd and August 21st this year.
The website traffic data was used for this purpose and was indexed to 100. The highest point for web page traffic scores was set at 100.
The Coingecko website is quite a popular one because its US ranking is around 3,150 and global rank is 1,743.
On September 3rd, statistics revealed that there had been 44.4 million visits to the Coingecko website in the previous month.
The study shows that out of all the American states, it was California that dominated in terms of visits and the second highest index score was from Illinois.
The breakdown
The bitcoin web page received more visits from Illinois residents, but the Ethereum web page did not get as many visits.
The score for bitcoin was higher amongst the top 20 states in America, but there was a high rank for Ethereum in states, such as Florida, Colorado, Wisconsin, and New Jersey.
Of the top 20 American states, the lowest ratings came from New Jersey and Indiana. The data from Coingecko showed interest in bitcoin was higher in 76% of the top 20 states, while 24% of it belonged to Ethereum.
The other states that expressed interest in these two cryptocurrencies included New York, Virginia, Pennsylvania, Washington, Florida, Arizona, Georgia, and Texas, but not in that order.
Not surprising
The co-founder and COO of Coingecko, Bobby Ong said that it did not come as a surprise that California had come out on top in the list of states interested in bitcoin and Ethereum.
After all, it is considered one of the major technology hubs in the world and there is a great deal of ‘blue-chip’ interest in cryptocurrency.
Last Friday, Ong also said that the most notable was the greater interest in Ethereum, as opposed to bitcoin, in American states like New Jersey, Wisconsin, Florida, and Colorado.
He also added that it would be interesting to see how these market shares and interest rankings would be affected in the coming months.
This is due to the fact that Ethereum is scheduled for its Merge, which involves the crypto switching from its Proof-of-work (PoW) consensus to a Proof-of-Stake (PoS) one.
It is not just the United States that is recording more interest in cryptocurrency, as there has been a general rise all across the world.