Wednesday, September 27

ETH adoption in the UK was the third largest in December! What do the figures tell us?

According to the information provided by the Finder platform, the British nation advanced in the adoption of ETH. In this way, the United Kingdom reached third place in the list of countries with the most holdings of the currency. The survey that gathers data from December shows an improved share of almost 1%.

Evolution and ups and downs of the crypto market

The situation that cryptocurrencies faced in the last stage of 2021 was volatile. Although the influence of cryptocurrencies attracted the attention of buyers, the truth is that prices fell back from their highs.

This scenario also occurred in the UK, taking into account the massive crashes of the most influential cryptos. On the other hand, the adoption of ETH would have risen in the British nation, making it the third country with the most currencies in the world.

The data published by point out that the percentages of the market that each cryptocurrency occupied were altered. Such is the case of Bitcoin, which after the fall in December (to $42K) fell below 50% in the British popularity ranking.

Although Bitcoin lost steam in the UK, ETH adoption improved with investors holding positions despite the decline in December.  Source: Finder.
Although Bitcoin lost steam in the UK, ETH adoption improved with investors holding positions despite the decline in December. Source: Finder.

However, the blow that the market received did not prevent the eyes of the operators from leaving aside their digital assets. Despite dismal returns, a portion of the community continued to purchase holdings of different currencies.

Increased acceptance

While Bitcoin lost ground, the general direction of the crypto sector was not entirely unfavorable. In the evolution and rise and fall of prices, the general adoption of cryptocurrencies grew in December. This time, the figure shown reflects 0.9% more than the previous 2 months.

In addition to this, and in counterpart to BTC, Ethereum was able to consolidate a slight growth in terms of its acceptance. British buyers tipped the balance in favor of ETH, ranking the UK as the third largest country in the world.

In the latest data collected, it is estimated that about 32.9% of crypto holdings in the UK correspond to said currency.

The recorded figure puts British ETH adoption below only Singapore and Australia. The nation belonging to Oceania not only did not regress in terms of the market shares occupied by cryptocurrencies. On the contrary, it was the only country where BTC holdings went up.

While the global trend was tilted to sell, UK Ethereum investors did not falter on the bearish wave. However, it is still no match for the current leader, Bitcoin, which occupies more than a 42% share of the United Kingdom.

What happens now?

The crypto market is still looking for signs of a price recovery and Ethereum swung positively a few days ago. British investors are anchored in the hope that the currency will boost to the levels of the beginning of October 2021.