According to the latest reports, popular altcoin projects Shiba Inu and Dogecoin are among the most requested cryptocurrencies in France. Also, according to incoming information, there are more crypto investors in France than stock market investors. Details cryptocoin.com‘in.
Altcoin projects seeing an explosion in demand
Bitcoin, Ethereum, Bitcoin Cash, Binance Coin, Shiba Inu, Dogecoin and Polkadot are among the most desirable cryptocurrencies in France, according to a report conducted by the cryptocurrency and blockchains teams at KPMG France. The report attributes the growing popularity of the two meme coins to massive media coverage and frequent tweets revolving around Elon Musk’s statements about the Shiba Inu. Tesla CEO had recently hinted that Dogecoin could be accepted by satellite company Starlink. Overall, a third of French people plan to invest in crypto. Bitcoin remains the top choice for crypto investors (49%), followed by Ethereum (29%). The crypto king is the top pick among those who are only planning to get into crypto (69%). Overall, 8% of French people invest in cryptocurrencies, which exceeds the percentage of those who own stocks (6.7%).
As for demographics, there’s nothing surprising in the findings: crypto is mostly popular with men born post-2000. Still undecided about investing in cryptocurrencies, the French cited lack of information as their main concern (48%). Nearly a third of respondents are hesitant to invest in the emerging asset class due to the risks associated with it as the industry struggles to gain adequate legitimacy. The French cryptocurrency industry continues to thrive, currently employing around 1,200 people. The vast majority of French cryptocurrency companies have vacancies after exceeding the cumulative 1.2 billion euros. However, most crypto startups struggle to find developers to fill these gaps. According to the information received, the Shiba Inu was also among the most popular cryptocurrencies in India in 2021.
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