February 27, 2023

Lebanese Community More Interested in AI Crypto

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Lebanese Crypto

Lebanese investors became increasingly interested in cryptocurrencies supported by AI (AI Cryptocurrencies) due to the growing popularity of ChatGPT, recent research revealed.

Coin Gecko conducted a study that included 14 English terms associated with AI cryptocurrencies between November 30, 2022, and February 16, which showed Lebanon at the top of the world’s countries that are interested in AI cryptocurrencies, with a percentage of 21.6%, followed by Slovenia and the UAE, according to Cointelegraph.

Lebanon scored 100 on almost all 14 search terms, collecting 1,200 points, which made it rank first on the list. While the scores of Slovenia and the UAE were 835 and 566, respectively.

The Lebanese community’s increasing interest comes in conjunction with the country’s central bank devaluation of its currency by 90% on February 1 due to the ongoing economic crisis.

The list of the top 20 countries included Australia, Nigeria, the Netherlands, Kuwait, Qatar, Sri Lanka, and Pakistan. The growing interest of the Sri Lankans, Nigerians, and Pakistanis reflects the importance of cryptocurrencies in countries that witness economic crises.

According to data from cryptocurrency firm TripleA, the ownership of cryptocurrencies has also increased in Lebanon, with 2.4% of its total population now owning 185,704 cryptocurrencies.

Morocco leads other Middle East and North African countries in cryptocurrency ownership, with 4.9% of its population owning cryptocurrencies, followed by Egypt with 3% of its population.

The governor of the Central Bank of Morocco had previously stated that the process of regulating cryptocurrencies in the country is in its final stages, which will protect local investors from the risks associated with the asset.

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