The digital asset market decline in the month of April this year witnessed most virtual assets lose over sixty percent of their valuation from the top, leading to an overall decline in trading activity, investor interest and venture capital investment. A recent study has highlighted countries’ rising inquisitiveness and interest in virtual currencies subsequent to the April crash.
The aforementioned research was based on Google Trends data of renowned digital asset search terms that often reflect increased interest in the digital currency market. The search history of each country was then compiled to give an overall search score. The nations at the top of the list appear to be most eager to purchase the dip.
The CoinGecko research highlighted a noteworthy increase in curiosity among Nigerians after the digital asset market decline in April. The Nigerian natives searched the term “cryptocurrency,” “invest in crypto” and “buy crypto” the most among the fifteen nations that were part of the research and had a total search score of three hundred and seventy.
The following 2 Google trend charts show the data for “invest in crypto” searches in Nigeria compared to the world. The search density for the term has seen similar interest rates after the April decline in Nigeria, while the worldwide search density has seen a constant decline in comparison.
Nigeria’s rising interest in digital assets is fueled by inadequate financial services in the nation, something that has been a key reason for digital asset espousal across Africa. Nigerians began using digital assets as a viable substitute to store and transfer assets.
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