Hey Geckos!
We recently did a research study to identify the Top States in America that are Most Interested in Bitcoin and Ethereum. We examined web page traffic on our Bitcoin and Ethereum pages within the United States, between May 2 to August 21, 2022. The data is then indexed on a scale of 0 to 100, and numbers represent web page traffic relative to the highest point in this data set.
Some of our findings might just surprise you – read on to find out which state takes the crown as #1, and which state ranks higher Ethereum market share.
California dominates as #1 state in America most interested in Bitcoin and Ethereum
Surpassing all states, California makes up 43% of total Bitcoin and Ethereum web page traffic on CoinGecko, in the United States, signalling the highest interest in these cryptocurrencies.
Figure 1: California vs. U.S. States ex. California, by Bitcoin and Ethereum interest
Following California, other contenders in the top 10 are Illinois, New York, Florida, Washington, Pennsylvania, Texas, Virginia, Georgia and Arizona.
Figure 2: Top 10 States in the United States most interested in Bitcoin and Ethereum
Bitcoin records an average market share of 76% across the top 20 states
Figure 3: Bitcoin vs. Ethereum’s market share, averaged across top 20 states most interested in Bitcoin and Ethereum
Ethereum’s market share is higher than Bitcoin’s market share for: Colorado, Wisconsin, New Jersey and Florida
Figure 4: Bitcoin vs. Ethereum market share by state, across top 20 states most interested in Bitcoin and Ethereum
Bobby Ong, our COO and co-founder commented on the findings: “It is unsurprising that California, as one of the world’s major technological hubs, takes the crown in ‘blue-chip’ cryptocurrency interest. What’s especially notable is Colorado, Wisconsin, New Jersey and Florida’s interest in Ethereum over Bitcoin. It remains to be seen how these rankings and market shares will play out in the coming months, with Ethereum’s Merge around the corner.”
Related: Ethereum Upgrades: Understanding The Merge And Ethereum 2.0
Research Methodology
This research aims to identify states in America that are most interested in Bitcoin and Ethereum, and does so by examining Bitcoin and Ethereum web page traffic on CoinGecko within the United States, between May 2 to August 21, 2022. The data set is indexed to 100, where 100 is the highest point for web page traffic, given the time and location selected. Subsequent numbers represent web page traffic relative to this highest point.
|
Top 20 States in the U.S. |
|||
|
State |
Bitcoin |
Ethereum |
Index |
|
California |
82.3 |
17.7 |
100.0 |
|
Illinois |
19.3 |
2.1 |
21.4 |
|
New York |
10.4 |
6.8 |
17.2 |
|
Florida |
6.9 |
7.4 |
14.3 |
|
Washington |
5.2 |
3.5 |
8.6 |
|
Pennsylvania |
6.7 |
0.5 |
7.2 |
|
Texas |
4.4 |
2.7 |
7.2 |
|
Virginia |
5.0 |
1.8 |
6.8 |
|
Georgia |
4.1 |
1.0 |
5.1 |
|
Arizona |
2.6 |
1.6 |
4.2 |
|
Oregon |
3.7 |
0.3 |
4.0 |
|
Maine |
1.8 |
1.6 |
3.4 |
|
Utah |
2.6 |
0.7 |
3.3 |
|
Maryland |
2.7 |
0.1 |
2.8 |
|
Massachusetts |
2.2 |
0.3 |
2.5 |
|
Colorado |
1.1 |
1.2 |
2.3 |
|
North Carolina |
1.5 |
0.7 |
2.3 |
|
Wisconsin |
0.9 |
1.2 |
2.1 |
|
New Jersey |
0.5 |
1.0 |
1.5 |
|
Indiana |
1.0 |
0.5 |
1.5 |
Curious to learn more about our analysis? Check out CoinGecko’s NFT Survey 2022!