As the use of cryptocurrencies continues to rise globally in countries such as Indonesia and Chile, there is a significant outflow of public interest in cryptocurrencies such as Bitcoin (BTC), according to new data.

Indonesia was the world leader in cryptocurrency interest in 2021, according to a report released Friday by Australian education startup Coinformant.

Hotspots for the fastest growing cryptocurrency. Source: Coinformant
In a report by Coinformant, Indonesia scored the highest in cryptocurrency interest with a score of 5.73 out of 10, surpassing other provinces on a combination of four factors, including Google searches, published cryptocurrencies, and engagement growth. and ownership of cryptocurrencies. Chile came in second with a score of 5.26, followed by Argentina with a score of 4.79.

Citing data from the exchange platform BuzzSumo, Coinformant calculated that the number of people working on cryptocurrency articles in Indonesia has increased by 1,772% year after year. The number of articles on cryptography published in Indonesia increased by 133%, while Finland saw the largest increase of 725%.

Indonesia also ranked second in the ranking of countries in terms of the increase in cryptocurrency-related searches on Google over the past 12 months, an increase of 572%. Chile reportedly overtook Indonesia in this metric, with Google searches increasing 707% year over year.

Citing data from Chainalysys cryptocurrency ownership data, Coinformant’s methodology also contains information on global cryptocurrency ownership. The report says that Ukraine has the highest percentage of cryptocurrencies: more than 12% of the population owns cryptocurrencies.

RELATED: Report: Backed by DeFi, North America Crypto Growth Growth 1000% Annually

A Coinformant spokesperson noted that while Indonesia won the race in terms of overall growth in cryptocurrency interest, the United States has always been the largest country in terms of cryptocurrency participation and other factors. “This report is about the countries with the largest increases in these actions this year, and it’s worth noting that if you just look at the size, the United States always comes first,” the spokesman said.

Despite a complete ban on cryptocurrency payments in 2017, the Indonesian authorities have kept cryptocurrency trading legal. In August, Pintu, a major cryptocurrency wallet and trading platform in Indonesia, raised $ 35 million from some of the largest investors in the cryptocurrency and blockchain industry.

Source: CoinTelegraph