In Coinformant’s report, Indonesia received the highest crypto investment score of 5.73 out of 10, having beaten out other countries based on the integration of four factors including the total count of Google results, the number of crypto publications, the growth in engagement level, and crypto ownership. Chile came in second with a score of 5.26, while Argentina came in third with a score of 4.79.
Coinformant estimates that Indonesia has seen a tremendous 1,772 percent growth in the number of people interacting with cryptocurrency articles year over year, citing data from interaction platform BuzzSumo (YOY). The number of published crypto articles in Indonesia increased by 133%, while Finland experienced the greatest growth (725%).
According to new research, nations such as Indonesia and Chile have experienced a considerable increase in public interest in cryptocurrencies such as Bitcoin (BTC) amid the continuous global boom in cryptocurrency use.
According to research published on October 15 by the Australian blockchain education startup Coinformant, Indonesia will top the globe in crypto demand patterns in 2021.
Despite the fact that Indonesia has won the race in terms of global crypto interest rise, the United States has constantly been the largest country in terms of crypto involvement and other variables, according to a Coinformant representative. “This study is about countries with the largest growth in these indicators this year, and it’s worth noting that when looking solely at volume, the United States consistently comes in first,” the spokesperson explained.
Indonesia was also the second-highest-ranking nation in terms of the increase in crypto-related Google results over the previous year, with a 572 percent increase. Chile is said to have outpaced Indonesia in this category, with 707 percent more Google searches year on year.
Coinformant’s technique includes information on worldwide crypto ownership as well as data from Chainalysis’ crypto ownership statistics. According to the survey, Ukraine has the biggest share of cryptocurrency owners, with more than 12% of the population possessing cryptocurrencies.
Despite imposing a blanket ban on bitcoin payments in 2017, Indonesian authorities have allowed cryptocurrency trading to continue. Pintu, a significant Indonesian cryptocurrency wallet, and trading system raised $35 million in August from some of the industry’s most prominent investors.