Aussies Embrace Crypto Diversity: Bitcoin Leads, Meme Coins Flourish
By:W, LeahHighlights:
- Cryptocurrency exchange Kraken has undertaken an analysis revealing that Australian crypto investors are ahead of the pack in embracing novel meme coins.
- Additionally, this analysis underscores that Australian investors allocate a significantly higher percentage of their portfolios to ETH compared to their international peers.
- Unsurprisingly, Bitcoin was found to dominate trading volume in Australia as it does in the rest of the world.
As the Olympic Games commence in Paris, an anonymous assessment of Australian cryptocurrency holdings, unveiled by Kraken earlier this month, has disclosed that Aussies have already secured the gold medal in that most prestigious of endeavours—FOMOing into new meme coins.
Kraken’s analysis underscores that Australians have eagerly embraced the influx of meme coins such as dogwifhat (WIF), PEPE, and BONK, surpassing the global pace. Furthermore, it also found that Australians are big hodlers of Ethereum compared to the global average and that the most actively traded cryptocurrencies in Australia are Bitcoin and Solana.
BTCC, one of the longest-running crypto exchanges in the world, supports trading for 300+ cryptocurrencies with leverage ranging from 1Χ to 225Χ. If you want to start trading cryptocurrencies in Australia, you can start by signing up for BTCC.
＼Trade On BTCC With 10 FREE USDT!／
Kraken Data Shows Aussies Love Memes
Kraken’s analysis delved into the cryptocurrency holdings and trading patterns of its Australian clients, comparing them with its global user base. Its insights are based on anonymous, aggregated data of all user accounts which was used to create a hypothetical profile of an ‘average Australian Kraken user.’
A pivotal discrepancy identified by Kraken lies in the Australian crypto investors’ avid embrace of newer meme coins, setting them apart from their global peers. Globally, the spotlight remains on established meme coins like DOGE and SHIB, but in Australia, the gap in ownership between old and new is significantly bridged.
The ownership rates of newer meme coins by Aussie Kraken users compared to global users is:
- PEPE: 2.65% of Aussie Kraken users vs 1.49% globally
- WIF: 1.58% of Aussie users vs 0.45% globally
- BONK: 1.50% of Aussie users vs 0.67% globally
Whereas the ownership rates of the more established meme coins is much lower in Australia compared to global rates:
- DOGE: 6.65% of Aussie users vs 12.40% globally
- SHIB: 3.89% of Aussie users vs 5.49% globally
Commenting on these observations earlier this month to The Block, Jonathon Miller, Managing Director of Kraken Australia, remarked:
“It is great to see the enthusiasm Australians are showing towards new memecoins, which are a fun and increasingly popular part of the crypto ecosystem. Australians are no stranger to venturing off the beaten track, a trait useful when navigating this ever-evolving asset class.”
＼Trade On BTCC With 10 FREE USDT!／
ETH Dominates Holdings, Bitcoin Leads in Trading Volume
Regarding the cryptocurrencies held by Australian investors, Kraken’s analysis revealed that ETH reigns supreme, comprising 49.31% of the hypothetical average Australian crypto investor’s portfolio—markedly surpassing the global benchmark of 29.24%. Bitcoin, while still holding a prominent position as the second most held crypto by value at 26.13%, lags behind the global figure of 39.73%. Solana and Polkadot occupy the subsequent spots in the top four.
Unsurprisingly, Bitcoin leads the trading volume in Australia, accounting for 27.07% of total trades, marginally surpassing the global average of 26.46%. Solana follows closely in second place, contributing 10.02% of Australia’s trading volume, significantly outpacing its global share of 7.81%. ETH ranks third with 9.66% of trading volume, slightly underperforming the global rate of 9.93%.
＼Trade On BTCC With 10 FREE USDT!／
About BTCC
BTCC is among the best and safest platforms to buy cryptos in Australia. The reasons why we introduce BTCC for you summarize as below:
- Industry-leading security
- High liquidity & volume
- Extremely low fees
- High and rich bonus
- Excellent customer service
What know more about BTCC? please read related article: BTCC Exchange Review 2024
＼Trade On BTCC With 10 FREE USDT!／
Recommended for you:
A Beginner’s Guide: How To Buy Crypto In Australia In 2024
How To Buy Meme Coins In Australia – A Beginner’s Guide For 2024
Buy Bitcoin (BTC) Australia: A Comprehensive Guide For 2024
Crypto Tax In Australia: A Complete Guide For 2024
Best Australian Crypto Debit Cards For 2024
Australian Cryptocurrency Market Analysis & Outlook 2024
Australia’s First Spot Bitcoin ETF To Start Trading On ASX On 20 June, 2024
Australian Crypto Company NGS Crypto Rebrands To Hiddup Amid ASIC Investigation
Big News: Australia’s First Spot Bitcoin ETF Goes Live Today!
Best Crypto Exchanges Australia 2024
Three Secrets All Investors Must Know Before Investing in Crypto
BTCC vs. NDAX: which is a better choice for crypto trading in Canada?
BTCC vs. Bybit vs. eToro：which is the best choice for you？
BTCC vs. Coinbase vs. Crypto.com
Bitcoin Halving Countdown 2024：Something You Need to Know About It
Register now to begin your crypto journey
Download the BTCC app via App Store or Google Play
Follow us
Scan to download
- Terms & Agreement
Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
The world’s longest-running cryptocurrency exchange since 2011 © 2011-2024 BTCC.com. All rights reserved
Comments
Leave a comment
Your email address will not be published. Required fields are marked with an asterisk (*).
Comment*
Name*
Email address*