CoinShares’ latest research delved into the ownership and concentration of Ethereum, and came up with some interesting findings.
While global adoption has undoubtedly risen, it begs the question- Which countries or regions are driving this demand for ETH?Cryptocurrency investment firm CoinShares’ latestdelved into the ownership and concentration of the world’s second-largest virtual asset, and came up with some interesting findings.
The key takeaway was that out of the top 20 countries by ETH ownership, only four were from the developed world while the rest of the list was dominated by emerging and frontier markets. Infact the highest-ranked developed country, the U.S., stood at the ninth position.Coinshares highlighted that most of the top-ranked countries were the ones reeling under high inflation.
The study also sheds insight on how nations with youthful, tech-savvy populations are taking advantage of ETH’s easy availability to invest actively in it. India, for instance, was home to the largest number of ETH owners in absolute terms, at nearly 38 million and equating to 3.1 % of its population. This was on par with the country’s equity ownership rate of 3.7%.Due to the comparatively efficient financial systems, the western world appeared to be largely ignoring the utility of ETH.
More than 75% of the ETH nodes were concentrated in the developed world. Nodes are computers running software to secure the Ethereum network globally. The U.S. alone accounted for a 46% share, according to
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LSTs overshadow traditional ETH use; will ETH remain unaffected?Liquid Staking Tokens (LSTs) were seen gaining more prominence in the market as they overshadowed traditional ETH staking. However, the price action of ETH remained unchanged as it continued on its bullish trajectory.
Read more »
Is $1840 the next target for Ethereum bulls?At the time of writing, caution was warranted, but the Ethereum price chart showed that the buyers had the upper hand.
Read more »
Move over, Bitcoin! Ethereum might be the next SoVDespite being primarily used as a medium of exchange (MoE) currently, ETH's usage has begun to shift towards a store of value.
Read more »
How Lido managed to make the best out of regulatory crackdownThe SEC lawsuit against Coinbase led to a surge in ETH staked on decentralized protocols like Lido, boosting activity and revenue for the protocol.
Read more »
Read the full story and comment on Tbnewswatch.comA Catholic elementary school officially opened their traditional medicinal garden
Read more »