American interest in cryptocurrencies has dropped by 26% in 2022.
The impact of the bear market is felt heavily in the entire cryptocurrency industry. The bad effects have also affected investors.
According to research by CoinJournal, worldwide interest in cryptocurrencies decreased by 16%, while in the United States this rate saw 26%.
The biggest drop in interest in the crypto sector was observed in the Netherlands. Interest in crypto in the European country declined by 37%, followed by Ireland with 30%. Although the USA constitutes the most important part of the crypto market volume, it took the third place in the list.
Commenting on the decline in interest in cryptocurrencies and digital assets, CoinJournal data analyst Dan Ashmore made the following statements:
“Given the hysteria of the past year, it makes sense that crypto rates are falling with the downturn.”
Increase in Some Countries
While the crypto industry has generally lost interest, the opposite has been seen in some countries. Interest in cryptocurrencies in Morocco increased by 61% compared to last year. Similar rates were seen in Kenya, Sri Lanka, Nigeria and Colombia.
While Ashmore conceded that the decline was “shaking” compared to 2021, he said there is no reason why the trend should not reverse once the macroeconomic environment stabilizes.
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