New analysis from a crypto exchange shows Australians trade based not just on faith but also on curiosity and culture. kraken.
The company’s latest wallet report, based on an anonymized dataset covering millions of wallets from August 2024 to August 2025, shows Australians are heavily leaning towards: Ethereum while using smaller tokens. Bitcoin and more altcoin.
for the average Australian walletEthereum accounts for about 33% of cash, almost double the global share of 19%. According to Kraken’s findings, Bitcoin remains the most commonly held digital asset, with more than 36% of Australian users owning some BTC, compared to around 34% globally.
However, in terms of value, Bitcoin makes up a small portion of local portfolios, with the average BTC balance at AU$17,409, well below the global average of AU$29,830.
These numbers suggest Australian crypto holders are betting broadly on decentralized finance and alternative ecosystems, spreading their risk across newer assets rather than concentrating on Bitcoin.
Kraken attributes this change to the country’s “higher population density of professional traders compared to other regions” in which it operates.
Australia’s “speculation trends”
But the underlying characteristic of this trend may be more about consumer psychology, says Jonathan Miller, Kraken’s Australian managing director.
According to the Kraken report, due to the popularity of so-called meme coin factories such as PumpFun, Australians are slightly more likely than global users to hold Solana, which generates meme coins faster than other chains (13.79% vs. 11.93%).
Australian crypto investors are also significantly more involved in meme coins such as WIF, PEPE, BONK and FARTCOIN than the global average, Kraken research shows.
Miller attributes this to Australia’s “larrikin mentality”. Some might see this as evidence of market immaturity, a cultural predisposition to irreverence and playfulness.
“I think it’s fair to say Australians have always tended to be a bit speculative and we’re happy to do that.” Please go and try it” Miller said.
When it comes to crypto investing, he added, this attitude could lead to “a willingness to work on new and unconventional assets.”
“Australian culture and sense of humor may be influencing our propensity to participate in meme coin offerings as much as the potential benefits. Many see these tokens as a low-risk way to participate in cryptocurrency communities and trends,” he said.
That said, Miller cautioned against generalizing. “It’s always a little risky trying to infer things like user intent from cold data from average wallet analysis,” he says.
In May, global adoption figures were released by cryptocurrency exchange Gemini, showing that most memecoin owners also held Bitcoin and Ethereum.
About 31% of US holders bought meme coins before going after other large assets. Australian meme coin buyers ranked a close second in the same statistic.