US Cryptocurrency Trends & Hotspots 2021: Most Crypto-Savvy States Revealed

Which states are the biggest cryptocurrency hotspots in the country?

Cryptocurrency may not be part of the mainstream economy just yet, but demand is so high in some states, US financial authorities are looking at ways to regulate the market.

Over the past five years, interest in cryptocurrencies surged by over 3000% in the US. Around 6% of the US population now use or own crypto, and the trend is growing. In fact, as many as a quarter of US investors are now entrusting their money to the crypto market.

With interest surging across the country, we looked into which currencies have seen the most significant spike in value, crypto trends dominating 2021 and which US states are investing their money in the crypto market.

 

US Cryptocurrency Hotspots 2021

We analysed search data to uncover the states driving the ongoing crypto craze. These are the areas with the largest interest in crypto in 2021, alongside the increase in demand since 2020:

  1. Hawaii: +687%
  2. Nevada: +621%
  3. California: +655%
  4. Florida: +628%
  5. Colorado: +637%

 

Cryptocurrency Trends of 2021

While Hawaii, Nevada, California, Florida and Colorado show the highest cryptocurrency interest in the US, the top-performing coins of 2021 have more widespread appeal:

Dogecoin (DOGE)

 +6,900% increase in value since 2020

  • December 2020 value: $0.005
  • May 2021 value: $0.35

+1,781% increase in interest across the US

Dogecoin hotspots: Alaska, California, North Dakota, Washington

 

Maker (MKR)

+602% increase in value since 2020

  • December 2020 value: $564.00
  • May 2021 value: $3957.00

+493% increase in interest across the US

Maker hotspots: California, Texas

 

Ethereum (ETH)

+313% increase in value since 2020

  • December 2020 value: $683.00
  • May 2021 value: $2,823.00

+777% increase in interest across the US

Ethereum hotspots: California, New Jersey, Washington

 

Dash (DASH)

+101% increase in value since 2020

  • December 2020 value: $107.00
  • May 2021 value: $215.00

+206% increase in interest across the US

Dash hotspots: Alaska, Arizona

 

Litecoin (LTC)

+56% increase in value since 2020

  • December 2020 value: $128.00
  • May 2021 value: $199.00

+433% increase in interest across the US

Litecoin hotspots: Alaska, Washington

 

Bitcoin (BTC)

+51% increase in value since 2020

  • December 2020 value: $26,272.00
  • May 2021 value: $39,746.00

+239% increase in interest across the US

Bitcoin hotspots: Hawaii, Nevada

 

Dogecoin: 2021’s biggest cryptocurrency trend

Once a meme, now a cryptocurrency, Dogecoin’s incredible 6,900% surge in value is the culmination of various factors: interest from Redditors spurring one another on, Elon Musk’s tweets and space explorations, a Snoop Dogg repost, and controversy around the electronic trading platform, Robinhood. One Dogecoin is now worth roughly $0.35 — a modest amount compared to the other coins on this list, but it still has the largest increase in value of any crypto this year by far.

American businesses accepting cryptocurrency

It’s clear plenty of Americans are investing in crypto or are buying coins for online use. But what about actual brick-and-mortar businesses?

Acceptance of cryptocurrencies among businesses is slowly growing across the US. To date, around 2,300 US businesses accept Bitcoin, although its use is more prolific in some states than others:

States with most businesses accepting Bitcoin States with least businesses accepting Bitcoin
California – 440 businesses South Dakota – 1 business
Florida – 180 businesses Wyoming, Rhode Island – 4 businesses
New York – 148 businesses Mississippi – 6 businesses
Texas – 145 businesses West Virginia, Delaware, Alaska, – 7 businesses
Colorado – 95 businesses Vermont, North Dakota – 8 businesses

 

 

Sources

Search trend data was gathered using Google Trends by comparing the average interest in 2020 to 2021.

Current cryptocurrency values were sourced at CoinMarketCap.                                                                                                            

Cryptocurrency price growth data is sourced from Statista.