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London and Belfast are the most popular UK crypto cities. Newcastle is last

. Following on from a piece we wrote about the uptake of crypto within the UK, this one will dive a bit deeper into which British cities own the most crypto, and what the variance is across the country. The average Brit crypto investor has spent PS473 Overall, one in three Brits across the country…

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Following on from a piece we wrote about the uptake of crypto within the UK, this one will dive a bit deeper into which British cities own the most crypto, and what the variance is across the country.

The average Brit crypto investor has spent PS473

Overall, one in three Brits across the country own crypto, according to VoucherCodes’ survey.

The average amount spent on crypto is PS473. Although this is not a significant amount, it can make a difference in your life.

5% of Brits have spent greater than PS2,000 on crypto. The markets have been very bad this year. The collapse of FTX this year is just the latest blow to an industry that has struggled all year.

This means that a large portion of these British investors are likely in the red, with crypto prices in freefall since Bitcoin’s all-time high of close to $69,000 in November 2021.

London the leading crypto city, Belfast second

London leads the way with an average spend of PS777.

It is not surprising that London is the UK’s financial center – and the hub for Europe as a whole – and is at the top of the list.

A PS777 spend is well clear of the average of PS473. Perhaps more notable is Belfast in second, with the Northern Irish city coming in at an average spend of PS699 – not too far off London.

Completing the top three is the Welsh city of Cardiff, shelling out an average of PS572 on crypto.

Newcastle spend the least on crypto

At the other end of the scale is Newcastle, with an investment of PS230 on average, the lowest in the survey.

The Northern city (which have the greatest football team in the world, this totally impartial journalist says) spend over 50% less than the UK average, and close to 70% less than Londoners.

With the current state of the market, it seems like the Geordies were right to make the right decision. Other cities that spend below the average include Liverpool, Brighton and Leicester, as well as Sheffield.

Sources

VoucherCodes.co.uk


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BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


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