• 18 June, 2024
News

‘Proof of Reserves’ Steals Crypto Spotlight Across Nations

5 Nations Steal CoinGecko’s ‘Proof of Reserves’ Research Spotlight

5 Nations Prefer ‘Proof of Reserves’ in Crypto: CoinGecko

Singapore Tops CoinGecko’s ‘Proof of Reserves’ Ranking

Source: CoinGecko

Research by the world’s largest independent crypto data aggregator, CoinGecko, reveals an increasing interest in ‘Proof of Reserves’ (PoR).

CoinGecko ranked, for the duration from January 1 to December 6, 2022, the Top 25 countries by relative search interest for PoR or associated terms.

Sharing the insights, CoinGecko tweeted:

Per CoinGecko research, Singapore, Nigeria, Hong Kong, Austria, and the Netherlands (in that order) are highly Proof of Reserves-inclined. These 5 nations comprise a combined 60% share in online ‘search interest’ for PoR or related terms.

Singapore recorded a whopping 300 out of 300 in PoR searches. Nigeria stood second with 206, Hong Kong third with 167, Austria fourth with 115, and the Netherlands fifth with 102.

Following the Netherlands are Australia, Switzerland, Thailand, Canada, and the United States.

Ranking too low on CoinGecko’s PoR ranking is South Korea at 21, Germany at 20, Malaysia at 19, France at 18, and Indonesia at 17.

CoinGecko’s methodology has it ranking scores as a total of search interest for four Proof of Reserves-associated terms. It does so per Google Trends from January 1 to December 6, 2022.

Singapore now prefers PoR also due to the nation being the 2nd (only to South Korea) most impacted by the FTX collapse, per CoinGecko research.

In the said research, the top 3 nations most impacted by the FTX collapse are South Korea, Singapore, and Japan.

CoinGecko ranked the top 30 countries ranked by monthly unique visitors to FTX.com (desktop and mobile web, plus traffic share by country). This was done per the SimilarWeb data, from January 2022 to October 2022.

As per the web traffic data to FTX.com, Singapore accounted for 241,675 monthly average unique users (or 5% of the traffic) to the international website.

Nigeria, ranking 2nd in the PoR research, actually topped an earlier ranking by CoinGecko titled ‘Top 15 Countries Most Curious About Cryptocurrency.’

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