Australians punch above their weight in crypto interest, data shows

Australians have the highest levels of interest in cryptocurrency per capita, based on their web traffic, with most activity relating to trading and speculation, according to new data. 

Data compiled by venture firm Andreessen Horowitz’s crypto division calculated the percentage of web traffic from each country across the top 30 tokens on CoinGecko, filtering out Bitcoin and stablecoins. 

Australians had the highest per capita percentage of token-related web traffic at 74.63% per 1 billion people, while South Koreans were a close second with 73.48% of token-related web traffic, while users from the United Kingdom were third with 62.15% per 1 billion people. 

Interestingly, the United States lagged as only 40.73% of web traffic went to token-related activities per 1 billion people. 

The report also found that crypto users from developed nations gravitated toward trading and speculating, while users from developing nations were more likely to participate in on-chain activity, which was indicated by mobile wallet usage. 

Token-related web traffic per billion users of each country. Source: Andreessen Horowitz Crypto

Australia’s crypto demand is expected to grow in 2026

The overall Australian crypto market is expected to grow at 19.85% annually, with total revenue reaching 1.2 billion Australian dollars ($780 million) by 2026, according to Statista.

Related: Gemini expands in Australia with wait-and-see approach to pending crypto rules

Meanwhile, the Australian crypto user base is expected to reach 11.16 million by 2026, with nearly 41% of Australians participating in crypto.

A survey conducted by Swyftx indicates that 40% of Gen Z and Millennial Australians regret not investing in cryptocurrencies a decade ago.

“A lot of younger investors want high beta assets in their portfolios, and the data we have indicates they generally understand the asset class pretty well,” a Swyftx spokesperson told Cointelegraph.

Magazine: Most wealthy Hong Kong investors plan to buy crypto, Japan’s Bitcoin plan: Asia Express