Today, Bitcoin, along with the cryptocurrency market as a whole, is showing a slight dip. Specifically, Bitcoin lost 3.4 percent of its price, while ETH, BNB, SOL and AVAX lost between 3.43 percent and 6.69 percent in value. Here is a table that gives an idea of what is happening.

Changes in cryptocurrency exchange rates over the day

In addition, let’s show the changes of coins rates for the month. Here, the situation looks more positive – especially in the case of Etherium.

Changes in cryptocurrency rates for the month

Overall, the market crash hasn’t confused many people. And that seems to be the basis for a further bullrun.

Who likes Bitcoin the most?

Analysts at platform CoinGecko conducted a study the day before based on the dynamics of search queries on Google Trends. The results resulted in a ranking of fifteen countries whose citizens were more actively searching the search engine for the possibility of buying BTC. As a result, the top spot went to Nigeria, which means that its residents are particularly interested in digital assets.

According to Cointelegraph’s sources, the study showed a significant increase in curiosity about crypto among Nigerian citizens after the market crash in April and May. Nigerians most frequently searched for the terms “cryptocurrency”, “invest in cryptocurrency” and “buy cryptocurrency”.

Accordingly, the case here does not appear to have ended solely with an interest in the technical components of cryptocurrency. Some of the authors of the queries must have been purchasing coins as well.

The following two Google Trends charts show data on searches for “invest in cryptocurrency” in Nigeria compared to global figures. You can see below that the figure is extremely volatile, meaning it gains popularity almost as fast as it loses it.

Dynamics of search queries about BTC in Nigeria

The “density” of search queries for the term is higher in Nigeria after the April drop, while the same figure for the rest of the world has steadily declined.

Dynamics of search queries about BTC in the rest of the world

The country’s growing interest in crypto is due to a lack of financial demand coverage among the public. In fact, this reason, among others, is driving the adoption of cryptocurrencies across Africa. Nigerians have gradually started using cryptocurrencies as a viable alternative for storing and transferring assets.

The United Arab Emirates (UAE) came second in the ranking, which is highly anticipated given the country’s drive for cryptocurrency adoption. Third place went to Singapore. The search data also showed some of the major cryptocurrencies searched for by residents of these 15 countries.

In 14 of the 15 countries, Etherium was more popular than Bitcoin. The increased interest in ETH compared to BTC may be due to the altcoin’s impending transition to the Proof-of-Stake algorithm this September. According to the developers, the preparations for the blockchain update are going quite well, so the week of September 19 may indeed be the time of the Eth network update.

Read also: Vitalik Buterin reveals when Bitcoin and Etherium will once again become a convenient means of making everyday payments.

The growing popularity of Etherium is a fact that many so-called Bitcoin-maximalists may not like. As a reminder, these are members of the community that very fiercely defend BTC’s dominance in the market while attacking virtually all other blockchain projects, calling them “shytcoins”.

However, such tactics can be disastrous and toxic for the industry as a whole, as Matt Corallo, one of Bitcoin’s independent developers, stated the day before.

He pointed out that “very dedicated” Bitcoin supporters are currently spending too much time criticising other projects instead of educating newcomers about the key features of BTC and persuading them to get involved with digital assets. This situation leads to what Corallo called a “war of narratives” in which Bitcoin fans shower each other with insults.

The power of Bitcoin

The expert also added that Bitcoin fans criticising Ether over the impending move to PoS will soon cease to be relevant. Still, they have previously actively stated that Eth will not be able to run on the Proof of Ownership consensus algorithm. And if the update takes place, then their arguments will prove groundless – and this will reduce the relevance of criticism of Etherium in particular and other coins in general by BTC-maxis.


As a result, the developer advises Bitcoin fans to focus on the uniqueness of the first cryptocurrency and talk more about the peculiarities of the anonymous BTC creator's approach. Also, don't be afraid to explain Bitcoin's conservatism and reasons for making this particular coin the neutral currency of the internet.

That said, Corallo separately advised Bitcoin-maximists to stop calling other blockchain projects frauds, because they are not. The bottom line is that such an approach will benefit all participants in the decentralisation industry who, in one way or another, operate on the same side.


Different cryptocurrencies


We think that such recommendation for Bitcoin-maximizers is extremely useful, because there is no point in protecting BTC by calling everything else a scam. Although, there is no hope to follow this recommendation, because fans of the first cryptocurrency are known for their unwillingness to perceive other's point of view. So, time will give all the answers here - and the development of altcoins at the same time.


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