After Bitcoin, Ethereum has emerged as the second biggest player in the crypto space. It has solidly held its number two position for a long time now and seems to remain that way for the coming years. Most people already accept the fact that the competition between Bitcoin and Ethereum is not mutually exclusive. Both can grow in tandem, as we saw in the last year.
However, 2021 saw the meteoric rise of Ethereum. While Bitcoin did achieve its new all-time high, the growth percentage of Ethereum is much more than Bitcoin’s. Rising Ethereum adoption is both a cause and consequence of this phenomenon. Many Bitcoin purists have also started to add Ether to their portfolios. A recent survey from Finder.com revealed Ethereum and overall crypto adoption tendencies in the UK among other countries.
The United Kingdom has lately been in news for its strict policies against cryptocurrency adoption. At the same time, overall crypto adoption increased by an unimpressive 1% in the last month of 2021. By that time, the market was already in a slump. As a result, adoption rates suffered. However, what is more interesting is Ether adoption in the UK. At present, the UK is the third country in terms of Ether adoption. The only two countries ahead of the UK are Singapore and Australia. On a global scale, Ether adoption was decreasing while it was increasing in the UK. There can be many reasons behind this development but none of them are conclusive.