British crypto enthusiasts were busy consolidating, rebalancing and investing in the last few months of 2021. Finder.com surveyed 2,013 Internet users across the United Kingdom in December 2021, with varying results.
The U.K.’s crypto ownership has increased by 1 percentage point since the October 2021 survey, from 5.2% to 6.1%. Ethere (ETH), however, continues to dominate.
The U.K.’s Ether ownership among crypto-holders consolidated at 32.9%. XRP is the third most popular crypto at 17.4%.
Curiously, the average global adoption rate for Ether fell from 28.2% in Oct to 24.4% December. While the global ETH ownership is declining, U.K. ETH holders have held their ground.
It is not difficult to guess the most popular cryptocurrency in the United Kingdom. Bitcoin (BTC), which is currently at 42.8%, comes in first. However, it is also showing weakness. Although 42.8% is close to the Bitcoin dominance ratio it has fallen from 56.7%.
December saw a significant drop in cryptocurrency markets, and analysts’ forecasts for a 100,000 BTC by 2021 were not accurate. Since December 1, when BTC was first smashed to $42,000, the dominant crypto sentiment has been bearish.
The U.K.’s crypto behavior seems to reflect the macro bearish trend. In the lead-up to the new Year, there was some selling and portfolio rebalancing. Bitcoin ownership dropped, Solana (SOL), climbed to 15% ownership, and Dogecoin(DOGE) saw a 1% increase.
Curiously, Bitcoin ownership has fallen across the board in all countries. Only one country saw an increase of Bitcoin ownership between October and December. Australia’s BTC dominance increased to 72.7%. It also had the highest percentage of Bitcoin owners worldwide.
Related: Bitcoin payments fall as other cryptocurrencies rise
Cointelegraph’s October 2017 report found that emerging markets continue showing strong indicators of growing cryptocurrency adoption. In December, India, Colombia, India, and Colombia ranked among the top five countries in terms of growth in crypto ownership. More detailed statistics and insights will be available later in the month.
However, the U.K. is slowing down in its crypto growth rate rates. Its trend upwards is just 1%. It is still positive, but the global average growth rate for crypto ownership rose by 4.3%. This places the U.K. among the five lowest-ranked countries.
Eileen Wilson –Technology and Energy
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