According to a report from MiQ Digital, the demand for crypto across the US this year has increased the most in Hawaii and California.
The data was obtained by comparing the average interest from 2020 to 2021 from Google Trends. Hawaii recorded an increase of over 687% while California took second place with an increase of 655%.
“Cryptocurrency may not be part of the mainstream economy just yet, but demand is so high in some states, U.S. financial authorities are looking at ways to regulate the market. Around 6% of the U.S. population now use or own crypto, and the trend is growing,” reads the report.
The report highlights the fact that Dogecoin registered the greatest increase in price as it grew by 6,900% since December 2020. Demand for Bitcoin has increased the most in Hawaii and Nevada – BTC grew in price by just 51% over the same period of time.
Business and crypto retail investors are drawn to some states more as a result of different regulatory frameworks. Texas, for example, has very few regulations, which makes it more appealing to crypto miners, while Wyoming is the go-to spot for crypto enthusiasts thanks to the work of Senator Cynthia Lummis and CEO of Avanti Bank & Trust, Caitlin Long.