Ethereum price has Jumped 1187.3 per cent since last year, giving this cryptocurrency backing a namesake blockchain platform a market valuation of around $313.9 billion. Ethereum is a blockchain-based platform for developing decentralized apps and smart contracts. Ether is the native cryptocurrency used for all the transactions on Ethereum’s blockchain.
Created in 2015 by Vitalik Buterin, it is the second most valuable cryptocurrency after Bitcoin. Ethereum is also considered more than just a digital currency. In India, Ethereum is a big hit among traders as the country is home to one of the biggest IT hubs in the world. A lot of developers working on Ethereum Blockchain in India are also contributing to its popularity among traders in the country.
A survey by cryptocurrency exchange BuyUcoin among its 114,000 users reveals some interesting Ether buying trends in India. Here’s at key findings of the survey:
1. Top 5 states Geographies for Ether Investment
– Tamil Nadu is the winner with the most interest in Ethereum with a share of 20.16%, followed by Maharashtra with 15.83%, Karnataka 9.27%, Delhi 8.99% and Uttar Pradesh 7.90%.
2. Delhi and Uttar Pradesh account for more than 16% of Ethereum traders
3. Female traders are more than 14% showing a 780% Growth per Year. Male traders are more than 85% showing a 3482.32% Growth per Year
4. Age Group 25-34 Invests most into Ethereum and 18-24 Comes second. For age group trends 25-34 leads the way with accounting 36.04%, next we have 18-24 with 29.36%, 35-44 accounts for 17.36%, 45-54 has 8.89%, 55-64 having 4.86% and 65+ showing a meagre 2.95%.
5. Top 5 Ethereum Investing States Tamil Nadu, Maharashtra, Karnataka, Delhi, and Uttar Pradesh constitute More than 62% of Investors
6. 2.95% of Indian traders who invest in Ethereum are Above Age 65.
8. Indian Traders of Age Group 18-44 accounts for more than 82% of Ethereum Investors and more than 16% are from the age group of 45+
The recent Ethereum bull run attracted a lot of new users into buying Ethereum.
“All the data shows that Ethereum is not too behind bitcoin in its popularity and its usability and features of smart contract are certainly an added feature which amount its popularity among the developer community, Ethereum is benefiting from the popularity of decentralized finance (DeFi) and non-fungible tokens (NFTs), which heavily utilize its blockchain ecosystem,” the survey said.
At the time of writing this report, Ethereum was trading at Rs 209,851 on crypto exchanges.