CANBERRA, Australia—The crypto market in Australia has seen significant growth over the past few years in terms of ownership and adoption, according to a new report.
The country has one of the highest rates of cryptocurrency adoption globally, ranking ninth out of 26 countries for crypto adoption, according to Finder’s Crypto Adoption November 2022 report, Cryptonews said.
“Per the report, the crypto ownership rate in Australia is 17%, which is higher than the global average of 15%,” Cryptonews reported.
The report notes the cryptocurrency user base in Australia is notably young, with a significant portion of crypto investors being under the age of 24.
‘Gaining Traction’
“Bitcoin remains the dominant cryptocurrency in Australia, as it does globally, accounting for a significant share of the cryptocurrency market. However, other cryptocurrencies like Ethereum are also gaining traction among Australian users,” Cryptonews said.
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