By
Bena Ilyas
April 25th, 2024
Hawaii was deemed to be the most crypto-savvy location with its demand rate in cryptos rising as much as 687% since 2020.
It is no secret that the United States is a powerhouse and one of the crypto-savvy countries on the globe. Cryptocurrency adoption in the United States has been predominant with interest in cryptocurrencies, surging over 3000% over the last five years. According to reports, almost 6% of the current US population is somehow involved in crypto, with such trends expected to rise due to the recent boom in the crypto market.
Crypto investment is also on the rise in the United States even with the country’s financial authorities looking to regulate the market. A 2021 survey by Satoshilabs revealed that 46% of Americans own cryptocurrencies with almost 95% of them believing that crypto exchanges in the country are a real currency solution. The crypto market size is also expected to grow from $1.6 billion in 2021 to $2.2 billion by 2026, at a CAGR of 7.1%, according to the research of MarketsandMarkets.
The United States has also been involved in many cryptocurrency milestones. Ohio became the first state in the US to start accepting taxes in cryptocurrency. Colorado was also the first state to pass a bipartisan bill to exempt cryptocurrencies in the state’s securities regulations whiles Oklahoma passed the bill for the use of cryptocurrencies as a currency within its governmental agencies.
The recent wave of institutional interest from traditional financial firms is also accelerating the adoption as well as the value of the cryptocurrency and with crypto interest expected to rise, analysis and tech firm, MiQ, have revealed the most crypto-savvy states in the United States, the current crypto trends as well as alongside the increase in demand since last year.
Hawaii was deemed the most crypto-savvy city with its demand rate in cryptos rising as much as 687% since 2020. Nevada followed with +621%, then California, with +655% whiles Florida and Colorado recorded a +628% and +637% interest rate respectively.
According to MiQ’s report, California is the state with the most business accepting Bitcoin, with 440 businesses. Florida came second with 180 businesses, followed by New York with 148 businesses; Texas has 145 businesses, and then Colorado with 95 businesses accepting Bitcoin.
South Dakota was revealed to be the state with the least business accepting Bitcoin, with only one business. Wyoming, Rhode Island has 4 businesses, Mississippi, 6 businesses, West Virginia, Delaware, and Alaska had 7 businesses whiles Vermont and North Dakota both had 8 businesses.
Dogecoin (DOGE), the meme coin turned internet sensation was revealed to be the cryptocurrency with the highest interest after a 6,900% increase in value since 2020. The coin recorded a 1,781% increase in interest this year with its incredible performance. Alaska, California, North Dakota, and Washington are the states with the most interest in Dogecoin.
Maker (MKR) is the second coin with the most interest in the US with over 493% surge in interest after gaining 602% in value since 2020. The coin recorded the most interest in the states of California, Texas.
Ethereum (ETH) which has seen a 313% increase in value since 2020 took third place as the coin with the most interest across the state with a surge of 777%. California, New Jersey, Washington are the coin’s hotspot.