Ethereum (ETH/USD) becomes more popular than Bitcoin (Bitcoin) in India, a recent study by free internet provider Jana found in its latest Mobile Majority report.
According to the study over the past five months, Ethereum was the most-searched cryptocurrency at 34.4%, easily outrunning Bitcoin which was at 29.9%. Clearly demonstrating the growth of interest towards this cryptocurrency in the country.
However, it does not mean that people actually buy Ethereum, the main indicator of the research is search quantity, not the number of transactions.
As Nathan Eagle, CEO of Jana, pointed, “It may not correspond to people buying more Ethereum, but there’s certainly a lot more interest.”
“The government recommending shutting down exchanges and limiting currencies altogether, coupled with the decline in prices, has lead to the feverish pitch waning away dramatically,” said Eagle. “There are still quite a lot of searches but maybe we’re getting closer to what a true steady state should look like,” he added.
Jana conducted this research in the months from October 2017 to February 2018.
One of the possible explanations of growing interest towards Ethereum could be the fact that Bitcoin market had been taking a dip during the first quarter of 2018.
By Ksenia Batanova