understanding

According to the latest study by software company ConsenSys, as many as 92% of people around the world have heard of cryptocurrencies. In a study conducted on a group of 15,158 people in 15 countries, it turned out that despite high awareness, understanding of blockchain technology is much lower.

 

This proves that digital currencies such as Bitcoin have become a household name. However, only 8% of respondents could confidently say that they knew the general concept of Web3, the decentralized Internet of the future.

Although cryptocurrencies and blockchain have gained mainstream awareness, most people do not fully understand what it is all about and need to update their knowledge on the subject.

The results of the study show that developing regions of the world show the greatest awareness and interest in cryptocurrencies. Nigeria, South Africa and Brazil lead on this issue.

With 99% of Nigerian respondents showing crypto awareness and over 70% correctly defining what blockchain

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Global Cryptocurrency Awareness Reaches 92%, But Understanding of Blockchain Lags Behind

InstaForex Analysis InstaForex Analysis 28.06.2023 09:21
According to the latest study by software company ConsenSys, as many as 92% of people around the world have heard of cryptocurrencies. In a study conducted on a group of 15,158 people in 15 countries, it turned out that despite high awareness, understanding of blockchain technology is much lower.   This proves that digital currencies such as Bitcoin have become a household name. However, only 8% of respondents could confidently say that they knew the general concept of Web3, the decentralized Internet of the future. Although cryptocurrencies and blockchain have gained mainstream awareness, most people do not fully understand what it is all about and need to update their knowledge on the subject. The results of the study show that developing regions of the world show the greatest awareness and interest in cryptocurrencies. Nigeria, South Africa and Brazil lead on this issue. With 99% of Nigerian respondents showing crypto awareness and over 70% correctly defining what blockchain is.     Technical Market Outlook: The BTC/USD pair has made a new swing high at the level of $31,002, but the Doji candlestick pattern was made at the top of the move on the H4 time frame chart. The market reversed and is now back inside the trading range. The intraday technical support is seen at the level of $29,556 and the intraday technical resistance is located at $30,328.   Moreover, the bulls had broken above the technical resistance located at $28,446 and now this level will work as the technical support. The momentum is strong and positive on the H4 time frame chart and on a Daily time frame chart, so the bulls are ready for another wave up. The next target for bulls is still seen at the level of $32,350.  

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