British cryptocurrency enthusiasts were busy consolidating and rebalancing during the last gasp of 2021. Finder.com surveyed 2,013 UK internet users in December 2021 with mixed results.
Since the last survey in October 2021, UK crypto ownership is up one percentage point from 5.2% to 6.1%, while Ether (ETH) dominance continues to show.
In third place, just behind Singapore and Australia, UK Ether presence among crypto holders consolidated at 32.9%, XRP being the third most popular cryptocurrency, with 17.4%.
Interestingly, interest in the 27 countries that Finder.com surveyed shows that the average global adoption rate for Ether decreased from 28.2% in October to 24.4% in December. ETH holders in the UK remain in line while ETH holdings in the world decline.
There are no prizes for guessing the most popular cryptocurrency in the UK. Bitcoin (BTC) is in first place at 42.8%, but is also showing weakness. Although the 42.8% figure almost reflects Bitcoin’s dominance ratio, it fell sharply from highs of 56.7%.
The overall cryptocurrency market fell sharply in December, while analyst predictions fell short of $100,000 per BTC in 2021. The prevailing sentiment for cryptocurrencies was bearish since the flagship cryptocurrency first crashed to as low as $42,000 in early December.
It seems that the macro bearish trend is reflected in the behavior of cryptocurrencies in the UK. Some sales and portfolio rebalancing occurred in the run up to the new year. Bitcoin ownership dropped; Solana (SOL) rose to 15% ownership; and Dogecoin (DOGE) gained 1%.
Interestingly, Bitcoin ownership dropped across the world. Only one country saw an increase in its percentage of Bitcoin ownership from October to December, as BTC dominance in Australia grew to 72.7%. It was also the country with the highest proportion of cryptocurrency owners holding Bitcoin in the entire world.
Consistent with Cointelegraph’s report from October of last year, emerging markets continue to show the strongest indicators of cryptocurrency adoption. Russia, Colombia, the Philippines, and India are among the top five countries for growth in cryptocurrency ownership in December. Detailed statistics and data are expected to be available later this month.
The UK, however, is dragging its feet when it comes to cryptocurrency growth rates, trending up just 1%. While still positive, the average global growth in cryptocurrency holdings blossomed by 4.3%, putting the UK in the bottom five countries surveyed.
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