Which Countries Are Crypto Degens In?
The most degen country in crypto is the US, which represented 16.8% of global interest in smaller market capitalization crypto on onchain DEX trackers. Other leading crypto degen countries are the UK with 6.2% of interest in so-called ‘shitcoins’ or memecoins, followed by the Philippines with 5.1% interest.
The top 25 most crypto degen countries account for a majority 77.8% of onchain speculation interest.
Besides the Philippines, neighboring Southeast Asian countries with relatively high interest in smaller market capitalization crypto are Indonesia (4.0% share), Vietnam (2.9%), Thailand (1.2%) and Malaysia (0.9%).
Meanwhile, Nigeria is the only African country to rank among the top 25 crypto degen countries and is the sixth most interested with a 3.9% share.
Within the European Union (EU), the countries most interested in onchain trading are France (4.4% share of global interest), the Netherlands (3.0%) and Poland (2.4%). In total, 6 EU members ranked among the global top 25 degen countries.
Notably, 18 out of the 25 most crypto degen countries are members of the G20, which is an international forum comprising economically significant countries.
Top Crypto Degen Countries (2024)
The 25 most degen countries with the highest interest in onchain trading over the past year are:
| Rank | Country | Share of Global Interest |
|---|---|---|
| 1 | United States | 16.83% |
| 2 | United Kingdom | 6.16% |
| 3 | Philippines | 5.07% |
| 4 | France | 4.40% |
| 5 | Indonesia | 3.96% |
| 6 | Nigeria | 3.85% |
| 7 | Canada | 3.44% |
| 8 | Netherlands | 3.02% |
| 9 | Vietnam | 2.94% |
| 10 | India | 2.82% |
| 11 | Brazil | 2.74% |
| 12 | Mexico | 2.61% |
| 13 | Russia | 2.51% |
| 14 | Poland | 2.41% |
| 15 | Australia | 2.21% |
| 16 | Turkey | 2.14% |
| 17 | Germany | 2.02% |
| 18 | Japan | 1.39% |
| 19 | Thailand | 1.20% |
| 20 | Bulgaria | 1.11% |
| 21 | Argentina | 1.10% |
| 22 | United Arab Emirates | 1.09% |
| 23 | Spain | 0.96% |
| 24 | Malaysia | 0.94% |
| 25 | Ukraine | 0.91% |
Methodology
The study examined total visits by country to GeckoTerminal, DEX Screener and DEXTools from April 2023 to March 2024, based on Similarweb data.
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Lim Yu Qian
Yuqian is a crypto research analyst at CoinGecko, covering a range of topics from NFTs to ETFs, crypto adoption and interest, and beyond. She’s especially fascinated by the philosophical and socioeconomic aspects of crypto. She holds a Bachelor of Social Sciences with Honors from the National University of Singapore.
Follow the author on Twitter @solosbrqt
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