CoinMarketCap, a leading cryptocurrency data aggregator, has released its latest report on global trends and developments in the crypto space for the first half of 2023.
The report reveals that Bitcoin (BTC) continues to be the leader of the cryptocurrency world, while memecoin, Ethereum and scaling solutions are also attracting attention from different regions.
According to the report, Bitcoin was the most followed cryptocurrency in all regions in the first half of 2023 and showed a similar trend with the 4th quarter of 2022.
Bitcoin's dominance over altcoins also increased by 25%, from 40.09% at the beginning of the year to 50.39% at the end of the first half of 2023. The report suggests that this could be due to events such as BlackRock's iShares spot Bitcoin ETF filing and the Bitcoin halving around March 2024.
Memecoins also remained popular among crypto enthusiasts, notably the Shiba Inu (SHIB), which was among the most viewed coins in all regions except South America.
Baby Doge Coin (BabyDoge) is another memecoin that has gained traction in South America, Asia, and Africa. PEPE, which is among the most viewed coins by region, has become the coin that has increased its popularity in all regions except South America.
Ethereum (ETH), the second largest cryptocurrency by market capitalization, was the most popular in most regions, excluding Asia and Africa, where it was surpassed by SHIB and PEPE, respectively.
The report also shows that the US continues to dominate in terms of the distribution of cryptocurrency users around the world. In the first half of 2023, 17.4% of the traffic comes from users in the USA, followed by India (7.90%), Turkey (7.40%), Germany (6.98%), Brazil (6.75%) and Vietnam (6%). The vast majority of remaining traffic was between users in Europe and Asia.
*Not investment advice.
