The frenzy around cryptocurrencies is not waning in France. The year 2024, however, marks a real turning point in the digital investment habits of the French, who now display well-established preferences among the myriad of assets available. Recent data reveals a nuanced picture, where historical values and newcomers compete for the attention of French investors.
Bitcoin has new challengers
Bitcoin has been booming since the election of Donald Trump (even if that’s not the only reason), and maintains its dominant position in the French ecosystem cryptocurrencies. Its volume of 348,000 monthly queries on Google is irrefutable proof. This statistic, highlighted by the Seeders firmdemonstrates that the first of the cryptos still remains king and maintains a very high level of attractiveness.
Even though they are far behind, same corners (cryptocurrencies born from internet memes, often created for speculation and supported by online communities) also show very good results. Two in particular stand out; Shiba Inu (SHIB) seems to attract the attention of many investors with 69,000 monthly searches, while Helium (HNT) attracts 35,000 requests. So, BTC, SHIB and HNT therefore occupy the podium French research.
Public interest in these somewhat unusual cryptos is growing, and this can be explained by several reasons. These assets take full advantage of digital culture and social networks and their rapid and viral diffusion frequently propels them to the top of trends, thus attracting new curious investors. In addition, the communities around these cryptocurrencies are usually very close-knit and active. A point not to be underestimated, because this feeling of belonging to a group and the desire to support a common project are powerful drivers for certain investors.
The diversification of digital wallets
The evolution of the French cryptocurrency market presents particularly encouraging indicators. The 14% increase in searches over one year is accompanied by a notable increase in the penetration rate: 12% of French people now own cryptoassets in 2024compared to 10% the previous year. Given the recent performance of Bitcoin (+ 40% since the elections across the Atlantic), nothing really surprising.
The specificities of the French market align with broader European trends since Bitcoin maintains its first place in searches throughout the Old Continent. However, regional particularities emerge: Ripple’s XRP is experiencing particular popularity in the Netherlands and Germany, while Mina, a “ relatively new cryptocurrency that focuses on scalable and efficient blockchain solutions », particularly captivates the attention of Italian investors.
Bitcoin therefore still retains its status as a safe haven on our soil, but the national cryptographic landscape has diversified considerably. This diversification certainly proves a growing appetite for risk on the part of investors and suggests a rather bright future for the French market. Be careful, however, with the volatility of the prices of certain cryptos which are popular at the moment. The craze around these can create speculative bubbles and when these burst, be careful of the damage to the portfolio!
- With 348,000 monthly searches in France, Bitcoin retains its leading position, but cryptos like Shiba Inu and Helium are gaining ground.
- Searches for cryptocurrencies have increased by 14% in one year, and 12% of French people will own cryptoassets in 2024.
- The French market is expanding with various cryptos, but the volatility of certain cryptos still remains a risk to consider.
