Australians exhibit the highest levels of interest in cryptocurrency per capita, as indicated by their web traffic, with the majority of this activity focused on trading and speculation, according to newly released data.
This data, compiled by the crypto division of venture firm Andreessen Horowitz, analyzed the percentage of web traffic from various countries across the top 30 tokens listed on CoinGecko, excluding Bitcoin and stablecoins.
Australians demonstrated the highest per capita percentage of token-related web traffic at 74.63% per 1 billion people. South Koreans followed closely with 73.48% of token-related web traffic, while users from the United Kingdom ranked third with 62.15% per 1 billion people.
Notably, the United States showed lower engagement, with only 40.73% of web traffic directed towards token-related activities per 1 billion people.
The report further identified a trend where crypto users from developed nations primarily engaged in trading and speculation. In contrast, users from developing nations were more inclined to participate in on-chain activities, as evidenced by their mobile wallet usage.
Australia's Crypto Demand Expected to Grow in 2026
The overall Australian cryptocurrency market is projected to experience an annual growth rate of 19.85%, with total revenue anticipated to reach 1.2 billion Australian dollars ($780 million) by the year 2026, according to Statista.
Concurrently, the Australian crypto user base is expected to expand to 11.16 million by 2026, indicating that nearly 41% of Australians will be participating in the crypto market.
A survey conducted by Swyftx revealed that 40% of Gen Z and Millennial Australians express regret over 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 informed Cointelegraph.