Home News Ethereum Ethereum Sails Past Bitcoin in Popularity Contest in India Says Study

Ethereum Sails Past Bitcoin in Popularity Contest in India Says Study

April 04, 2018 14:07
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Given the recent cryptocurrency craze that has pervaded India, it would be natural to assume that bitcoin is favoured among Indians. However, a recent report by a mobile internet company Jana, says otherwise.

In its study, Jana found that in the past five months, ethereum was the most-searched for cryptocurrency at 34.4%, easily outrunning bitcoin which was at 29.9%. BuyUCoin (NEM) was the third-most searched for cryptocurrency at 21.2%, while the rest of the coins lagged at 5%.

Surprisingly, Ethereum was highly searched for during the last week of February 2018. Between October 2017 and February 2018, Jana researched on the currency search terms and exchange-site visits across the company’s mCent browser app.

Bitcoin briefly took the lead when in December 2017, it had reached its peak price of $20,000. During this time, searches related to cryptocurrency also hit an all-time high at around 30%. However, once the Bitcoin price plummeted, Ethereum price touched $1,261- it’s highest ever- at the beginning of 2018.

Cryptocurrencies saw a brief cooling off period in India when Finance Minister, Arun Jaitley took a stance stating that “Cryptocurrencies are not a legal tender in India.”

At the peak of cryptocurrency searches, most of them were redirected to Bengaluru-based cryptocurrency exchange, Unocoin, which recorded the highest share of page loads, totalling at 38.85%. In the second place was Zebpay a Singapore-based exchange which has its IT headquarters in Ahmedabad.

Crypto-News reached out to Jana seeking a comment. We will update the article, when they respond.

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