Survey: UK Cryptocurrency Adoption Up 1% in December, ETH Holdings Ranked 3rd

At the end of 2021, UK cryptocurrency enthusiasts are busy consolidating and rebalancing their portfolios. Finder.com surveyed 2,013 internet users in the UK in December 2021, with mixed results.

Since the last survey in October 2021, the UK’s cryptocurrency holding rate has risen by 1 percentage point from 5.2% to 6.1%, while Ethereum’s dominance continues to emerge.

The U.K. holds the third-highest ether holding rate among cryptocurrency holders with a 32.9 percent share, behind Singapore and Australia, and XRP is the third most widely held cryptocurrency with a 17.4 percent share.

Oddly enough, the interest in the 27 countries surveyed by Finder.com shows that the average global adoption rate of Ethereum has dropped from 28.2% in October to 24.4% in December. Global ETH holdings are down, while UK ETH holders are holding their ground.

Bitcoin topped the list with a 42.8 percent share, but it also showed weakness. While the 42.8% figure pretty much reflects Bitcoin’s dominance, it has plummeted from a high of 56.7%.

The entire cryptocurrency market slumped sharply in December, while analysts' predictions for BTC to reach $100,000 in 2021 did not materialize. Sentiment in the crypto market has been bearish since Bitcoin first fell to $42,000 in early December.

The macro bearish trend appears to be mirrored in crypto behavior in the UK. There has been some sell-off and portfolio rebalancing ahead of the new year. Bitcoin holdings drop; Solana climbs to 15%; Dogecoin gains 1%.

Oddly enough, Bitcoin holdings are generally in decline across the globe. From October to December, only one country saw a rise in Bitcoin holdings, with Australia’s Bitcoin dominance rising to 72.7%. It is also the country with the highest percentage of cryptocurrency owners holding Bitcoin in the world.

Consistent with what Cointelegraph reported last October, emerging markets continue to show the strongest indicators of a cryptocurrency adoption bubble. In December, Russia, Colombia, the Philippines, and India were among the top five for growth in cryptocurrency ownership. Detailed statistics and insights are expected to be released later this month.

However, the UK has been slow in terms of growth in cryptocurrency holdings, rising by just 1%. While this is still positive, global cryptocurrency holdings have increased by an average of 4.3%, placing the U.K. in the fifth-lowest position among countries surveyed.

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