California dominates as #1 state in America that is most interested in Bitcoin and Ethereum
Surpassing all states, California makes up 43% of total Bitcoin and Ethereum web page traffic on CoinGecko, in the United States, signalling the highest interest in these cryptocurrencies.
Figure 1: California vs. U.S. States ex. California, by Bitcoin and Ethereum interest
Following California, other contenders in the Top 10 are Illinois, New York, Florida, Washington, Pennsylvania, Texas, Virginia, Georgia and Arizona.
Figure 2: Top 10 States in the United States most interested in Bitcoin and Ethereum
Bitcoin records an average market share of 76%, across the Top 20 states
Figure 3: Bitcoin vs. Ethereum's market share, averaged across top 20 states most interested in Bitcoin and Ethereum
Ethereum's market share is higher than Bitcoin's for: New Jersey, Wisconsin, Colorado and Florida
While Bitcoin's market share is higher for most of the Top 10 states, Ethereum's market share stands at 65.0% for New Jersey, followed by Wisconsin at 57.1%. Colorado and Florida come close at 51.7% and 51.5% market share respectively, for Ethereum search interest.
Figure 4: Bitcoin vs. Ethereum market share by state, across top 20 states most interested in Bitcoin and Ethereum
Bobby Ong, our COO and co-founder commented on the findings: “It is unsurprising that California, as one of the world’s major technological hubs, takes the crown in ‘blue-chip’ cryptocurrency interest. What’s especially notable is Colorado, Wisconsin, New Jersey and Florida’s interest in Ethereum over Bitcoin. It remains to be seen how these rankings and market shares will play out in the coming months, with Ethereum’s Merge around the corner.”
Methodology
This research aims to identify states in the United States of America that are most interested in Bitcoin and Ethereum, and does so by examining Bitcoin and Ethereum web page traffic on CoinGecko within each city in the US, between May 2 to August 21, 2022. The data set is indexed to 100, where 100 is the highest point for web page traffic, given the time and location selected. Subsequent numbers represent web page traffic relative to this highest point.
|
Top 20 States in the U.S. |
|||
|
State |
Bitcoin |
Ethereum |
Index |
|
California |
82.3 |
17.7 |
100.0 |
|
Illinois |
19.3 |
2.1 |
21.4 |
|
New York |
10.4 |
6.8 |
17.2 |
|
Florida |
6.9 |
7.4 |
14.3 |
|
Washington |
5.2 |
3.5 |
8.6 |
|
Pennsylvania |
6.7 |
0.5 |
7.2 |
|
Texas |
4.4 |
2.7 |
7.2 |
|
Virginia |
5.0 |
1.8 |
6.8 |
|
Georgia |
4.1 |
1.0 |
5.1 |
|
Arizona |
2.6 |
1.6 |
4.2 |
|
Oregon |
3.7 |
0.3 |
4.0 |
|
Maine |
1.8 |
1.6 |
3.4 |
|
Utah |
2.6 |
0.7 |
3.3 |
|
Maryland |
2.7 |
0.1 |
2.8 |
|
Massachusetts |
2.2 |
0.3 |
2.5 |
|
Colorado |
1.1 |
1.2 |
2.3 |
|
North Carolina |
1.5 |
0.7 |
2.3 |
|
Wisconsin |
0.9 |
1.2 |
2.1 |
|
New Jersey |
0.5 |
1.0 |
1.5 |
|
Indiana |
1.0 |
0.5 |
1.5 |
If you use these insights, we would appreciate a link credit to this article on CoinGecko. A link credit allows us to keep supplying you with future data-led content that you may find useful.
Interested in city-level studies? Check out this one we did that examined the Top 15 Cities by Cryptocurrency Layoffs.
Julia leads Growth at CoinGecko and is passionate about onboarding more women onto Web3. That said, she is generally poor at timing the market, so she DCAs for safety. Follow the author on Twitter @ngxinyajulia
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