Australians exhibit a remarkable interest in cryptocurrency, showcasing the highest per capita engagement globally, as detailed in new web-traffic statistics. According to recent findings, the Australian crypto user base is projected to expand to 11.16 million by the following year, with about 41% of the population actively participating in cryptocurrencies.

Data compiled by Andreessen Horowitz’s crypto division reveals that Australia recorded the highest percentage of token-related web traffic, sitting at 74.63% per billion people. Comparatively, South Korea and the United Kingdom followed closely behind with 73.48% and 62.15%, respectively.

The report also indicated a notable trend where users from more developed nations like Australia tend to focus on trading and speculation, while those from developing countries are more inclined towards on-chain activities, as demonstrated by mobile wallet usage.

Future Growth of Australia’s Crypto Market

Expectations for the Australian cryptocurrency market show significant growth potential, with a predicted annual growth rate of 19.85%. By 2026, total revenue is projected to hit 1.2 billion Australian dollars (approximately $780 million). Furthermore, the user base is anticipated to grow increasingly diverse, reflecting a broader acceptance of cryptocurrencies among Australians.

A survey from Swyftx highlighted that 40% of younger Australians from Generation Z and Millennials regret not investing in cryptocurrencies a decade ago.

“A lot of younger investors want high beta assets in their portfolios, and the data we have indicates they generally understand the asset class pretty well,” said a spokesperson from Swyftx.

Token-related web traffic per billion users of each country. Source: Andreessen Horowitz Crypto