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Australia has emerged as the global leader in cryptocurrency interest per capita, with the Australian crypto user base demonstrating unprecedented engagement across trading, speculation, and onchain activities, according to new data from Andreessen Horowitz’s (a16z) crypto division.
The analysis, published on October 24, measured web traffic directed at the top 30 non-stablecoin tokens on CoinGecko, filtering out Bitcoin and major stablecoins.
It found that Australians accounted for 74.63% of token-related web traffic per 1 billion people, placing the country ahead of South Korea (73.48%) and the United Kingdom (62.15%).
By comparison, the United States lagged behind with just 40.73% of similar web activity. The findings underscore a clear trend: the Australian crypto user base is not only active but also deeply engaged in speculative and market-driven aspects of digital finance.
This kind of participation points to a maturing market, said Chris Dixon, General Partner at a16z Crypto. We’re seeing more sophisticated users who aren’t just buying tokens as they’re analyzing, trading, and building around them.
According to the report, users in developed economies like Australia, the U.K., and South Korea tend to focus on trading and speculation, while those in developing markets lean toward onchain utility such as payments, remittances, and decentralized applications.
The Australian crypto user base shows a strong preference for centralized trading platforms, reflecting both the country’s robust internet infrastructure and its appetite for regulated investment options.
Local exchange Swyftx noted a similar pattern in its 2025 market insights, which revealed that 40% of Gen Z and Millennial Australians regret not investing in cryptocurrencies a decade earlier. The exchange attributed this sentiment to growing confidence in digital assets and clearer government guidelines on crypto taxation.
“A lot of younger investors want high-beta assets in their portfolios, and the data we have indicates they generally understand the asset class pretty well,” said a Swyftx spokesperson. “That knowledge is translating into higher participation rates across the Australian crypto user base.”
As trading volumes continue to rise, analysts believe that speculation remains a driving force but one that could eventually give way to broader adoption of decentralized finance (DeFi) tools and tokenized assets.
According to Statista’s 2025 Crypto Market Outlook, the Australian crypto user base is projected to reach 11.16 million people by 2026, representing nearly 41% of the country’s population. The domestic market is expected to grow at an annual rate of 19.85%, with total revenue anticipated to hit AUD 1.2 billion (USD 780 million) within the same period.
Market observers say that this trajectory places Australia among the top five nations globally for per-capita adoption, surpassing traditional financial hubs like Singapore and Switzerland.
Australia has been methodical in balancing innovation with regulation, said Caroline Bowler, CEO of BTC Markets, one of the nation’s largest digital asset exchanges. That’s why we’re seeing sustained confidence in the Australian crypto user base even through periods of market volatility.
Bowler added that rising institutional involvement, including interest from superannuation funds, could further legitimize crypto investments in the national portfolio.
The strength of the Australian crypto user base also reflects demographic and cultural trends. Younger Australians particularly those aged 18 to 35 have shown higher tolerance for financial risk and greater digital literacy, positioning them at the forefront of crypto adoption.
Meanwhile, the Australian Treasury has advanced several regulatory initiatives, including its ongoing consultation on the Digital Assets (Market Regulation) Bill, which seeks to formalize licensing and custody requirements for exchanges and wallet providers.
Industry experts argue that clear legal frameworks will not only safeguard investors but also expand the Australian crypto user base by encouraging mainstream participation.
“Regulation brings confidence, and confidence fuels growth,” said Michael Bacina, Chair of the Blockchain Australia Policy Working Group, in a recent interview with Financial Review. “With stable policies, Australia could easily double its active crypto participation rate within three years.”
As global interest in digital assets continues to climb, Australia’s position at the top of per-capita engagement rankings signals that the country is moving from a speculative phase to one of sustained, regulated growth.
