Cryptocurrency exchange Kraken said that Australian investors prefer to trade bitcoin, while newer memecoins, including Pepe and Dogwifhat, also gained traction among Australian users.

In a Tuesday analysis of millions of Australian wallets on the exchange, Kraken said that bitcoin remained the most traded cryptocurrency between May 2023 and May 2024, the exchange said in a statement shared with The Block. Bitcoin accounted for about 27.07% of all trading volumes in Australia in the period, which is slightly higher than the global average of 26.46%.

Solana was the second most traded crypto in Australia, constituting 10.02% of all trading volume during the period, compared to 7.81% for non-Australian users. Ether came in third, which made up about 9.66% of all Australian trading volume, …