In the year to date, positive developments in the crypto space have caused visits to CoinMarketCap to surge — but "adverse news had a direct and immediate negative effect on views."
CoinMarketCap has released a new report that unearths some fascinating trends about how the website is used.
In the year to date, positive developments in the crypto space have caused visits to CoinMarketCap to surge — but "adverse news had a direct and immediate negative effect on views."
Tesla beginning to accept Bitcoin payments, as well as Coinbase's debut on the stock market in April, were both attributed with bringing new investors into the crypto market.
But the report reveals that there was a "substantial decline" in the number of CoinMarketCap users when Tesla performed a U-turn — and discontinued BTC transactions over concerns about the impact that its blockchain has on the environment.
September also delivered a watershed moment, with CoinMarketCap users surging to new highs after El Salvador embraced Bitcoin as legal tender.
The report goes on to show that interest in Ethereum has grown consistently since the fourth quarter of 2020 — with the number of ETH enthusiasts growing tenfold over the past 12 months and continuing to rise rapidly.
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Crunching the Numbers
Drilling into the data, and we see something that's rather unsurprising: the crypto space continues to be male dominated.
A breakdown of CoinMarketCap users show that 74% are men, while 26% are female. Higher levels of risk aversion, as well as a lack of financial education in developing economies, were listed as some of the reasons.
Most visitors to our data website are aged 25 to 34 — and interestingly, the gender gap between men and women narrows in older age groups.
The report went on to reveal that a whopping 29% of CoinMarketCap users are based in the United States — streets ahead of Germany on 13%, as well as The Netherlands and the United Kingdom on 8% each. Vietnam, Russia, France, Thailand, India and Canada also make it into the top 10.
CoinMarketCap content manager Molly Jane Zuckerman said:
"CoinMarketCap is the place that most people go when they want a quick overview of what’s going on with the crypto markets. By releasing further insights, we are able to show people even more about the trends in the space than you can tell on your own."
