While it is assumed that users’ interest rates in digital assets should reduce owing to the current market condition, the craze for cryptocurrencies in several jurisdictions has increased.
Per a report published by self-acclaimed authoritative crypto education platform CryptoManiaks, the Netherlands and Turkey are top on this list, with an interest rate of 8.2% and 5.5% of their population, respectively.
They were followed by Germany, Canada, and the Czech Republic. The study evaluated the number of searches for certain types of popular cryptocurrencies. To arrive at the percentage of locals who searched for them per month, the combined number was grouped into a percentage of the population for each country.
Residents from both the Netherlands and Turkey have not relented in their efforts to grab information on crypto-related subjects.
Remarkably, the search for crypto-related terms from Turkey has reached up to 4.7 million with more focus on Dogecoin (DOGE). An average of 812,000 searches on DOGE were recorded every month for Turkey. This made it the first in terms of searches related to the memecoin.
With that figure per month, it almost doubled the search for Ethereum-based information which at the time was Turkey’s third most searched crypto term.
In November, it was declared that Turkish residents traded more Dogecoin than both Bitcoin (BTC) and Ether (ETH) combined. Stating figures, it was said that the residents of Turkey traded $700 million in BTC, ETH, and Doge, with dogecoin leading the way with $380.3 million.
Elon Musk Influenced the Dogecoin Craze
The jamboree surrounding DOGE skyrocketed in the period that Elon Musk, the Chief Executive Officer (CEO) of electric automobile Tesla, and Twitter endorsed the memecoin over BTC. Ever before he acquired Twitter, Elon Musk had pitched Dogecoin as a means of payment for Twitter Blue subscribers.
Speaking of the popularity that DOGE has gained above many other popular cryptocurrencies over the years, a spokesperson for CryptoManiaks said “Dogecoin’s popularity has surpassed that of Ethereum in a significant number of countries, with nearly 2 million more monthly searches worldwide for the coin.”
Apart from Dogecoin, other cryptocurrencies analyzed in the CryptoManiaks study are Bitcoin, Solana, BNB, and many others.