The most popular cryptocurrencies in every state of Brazil

The most popular cryptocurrencies in every state of Brazil
Ethereum and Bitcoin cryptocurrency in front of the Brazilian flag
Ethereum and Bitcoin cryptocurrency in front of the Brazilian flag

The recent surge in cryptocurrencies in January has revived investor confidence in the sector. In this study, the live coins points out what were the top cryptocurrencies searched in each state of Brazil in the past month.

With a 40% increase, Bitcoin is still the favorite of Brazilians, accounting for 78% of Google searches, a pattern that is repeating worldwide.

On the right side of the image below, we can also see that Brazil is the 4th country most interested in Bitcoin after only Nigeria, Vietnam and the Czech Republic.

Bitcoin is the most searched currency in Brazil and other countries in January 2023. Source: Google Trends.
Bitcoin is the most searched currency in Brazil and other countries in January 2023. Source: Google Trends.

Most searched cryptocurrencies by Brazilian states

Apart from Bitcoin due to its great dominance, we replaced BTC with the stablecoin Tether (USDT). So now Ethereum (ETH) takes the lead with 53% of searches in Brazil, followed by Binance Coin (BNB) with 22%, USDT with 9%, and Cardano (ADA) and Solana (SOL) with 8% each.

When analyzing Brazilian states show the most interest in Ethereum. The exceptions are Alagoas, Ceará, Piauí and Tocantins, where Binance Coin had the most searches. Meanwhile, Amapá and Roraima showed more interest in Tether and Cardano respectively.

Apart from Bitcoin, Brazilians showed great interest in Ethereum in January 2023.  Not only was ETH the second largest cryptocurrency in the market, but it also posted gains of 31% during that period.  Source: GoogleTrends.
Apart from Bitcoin, Brazilians showed great interest in Ethereum in January 2023. Not only was ETH the second largest cryptocurrency in the market, but it also posted gains of 31% during that period. Source: GoogleTrends.

Relative to YouTube searches, the battle intensifies. Even dominant, Ethereum is now losing ground to its rivals, leading us to a more divided chart than the last.

Searches by Brazilians for the major cryptocurrencies on YouTube show a greater difference in interest between states. Source: GoogleTrends.

As for the profit, Ethereum (ETH) closed the month of January with an increase of 31.1%, Cardano (ADA) of 51.52% and Binance Coin (BNB) of 24.8%.

all the Solana (SUN) had the highest rating of all, rising 141.4% against the dollar. finally, the Chain (USDT) drop 4.3% in the same period compared to reality. all the Bitcoin (BTC)not shown in the image above, ended the month up 38%.

What is the difference between cryptocurrencies?

Because of all its features, Bitcoin occupies a unique place in the industry. Some people even say that “there is Bitcoin and there are cryptocurrencies”, that is, they are very different assets, despite all their similarities.

As for the others mentioned in this study conducted by live coins, Tether (or any other stablecoin) is an easy way for anyone who wants exposure to the dollar. That is, it is a more conservative investment than Bitcoin, despite the trust risks.

Ethereum, on the other hand, is seen as a global supercomputer capable of working with smart contracts and hosting other tokens on its network, such as USDT itself above. In other words, it is an asset that is highly dependent on its ecosystem.

Finally, Cardano (ADA) and Solana (SOL) emerge as an option for Ethereum, promising greater scalability while offering similar features. Binance Coin (BNB) has a strong connection with the Binance brokerage depending on its success.

Therefore, every investor has their own reasons for choosing one of the above assets. For example, those who don’t like volatility might prefer a dollar-backed stablecoin, while those who believe in tokenization, NFTs, and other new things might be more interested in ETH, ADA, or SOL.

Bitcoin, as mentioned above, is an asset to those seeking protection from censorship and from mathematically controlled scarcity.

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Source: Live Coins

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