Is Crypto Just a “Fad” in Developed Countries?

Written by – @economiserly

As a data scientist, I’ve visualised the data on crypto adoption (with maps). I was surprised by what I found. Let’s take a look:

Number of Google searches for Crypto:

What these maps show:

• Google Search Trends data on key crypto terms.
• Google Trends data is provided as an index from 0 to 100.
• 0 = countries with negligible searches for a keyword.
• 100 = country with the most searches for a keyword.
• Data is from last 12 months

Number of Google searches for #Bitcoin:

Top 5 countries by searches for “Bitcoin”:

1. El Salvador
2. Netherlands
3. Nigeria
4. Turkey
5. Austria

Number of Google searches for #Ethereum:

Top 5 countries by searches for “Ethereum”

1. Kosovo
2. Singapore
3. North Macedonia
4. Canada
5. Switzerland

Number of Google searches for @MetaMask :

Top 5 countries by searches for “MetalMask”:

1. Venezuela
2. Philippines
3. China
4. Singapore
5. Morocco

Number of Google searches for @coingecko:

Top 5 countries by searches for “Coingecko”:

1. Philippines
2. Burkina Faso
3. Slovenia
4. Venezuela
5. Nigeria

Number of Google searches for #p2e (Play to Earn)

Top 5 countries by searches for “P2E”:

1. Korea
2. Philippines
3. China
4. Singapore
5. Morocco

Takeaways:

• Crypto is not just a “fad” for advanced economies
• It’s truly a global phenomenon
• There’s huge interest in crypto in East Asia and South East Asia
• US or the UK doesn’t appear in the top 5 countries for these searches

Caveat:

• Search Trends are highly correlated with crypto adoption, but not a perfect measure of it.

And that’s it. Those maps took a surprising amount of time to program… If there’s any other topics you’d like me to visualise just let me know

If you liked this, be sure to follow @economiserly where I’ll be continuing to post interesting data on crypto.