Kraken’s 2025 Wallet analysis: Aussies lean into Ethereum and memecoins

• Bitcoin still rules, but Aussies are stacking way more Ethereum than the global average
• Solana keeps climbing as XRP and Cardano fade from local portfolios
• Aussie traders lead the world in memecoins – mixing curiosity, humour and a taste for risk

Special Report: Bitcoin and Ethereum continue to dominate the portfolios of Australian crypto users, but Kraken’s latest Wallet analysis shows a local market defined by both sophistication and curiosity.

The 2025 Kraken Wallet analysis, which aggregates anonymised data from millions of wallets across the platform, highlights the composition of Australian Kraken user holdings compared to global averages.

While Bitcoin remains the most widely held cryptocurrency in the country, as you would expect of the world’s oldest and most recognised digital asset, Australians tend to hold smaller average BTC balances than their international counterparts (around AUD $17,400 compared to AUD $29,800 globally).

Ethereum, however, tells a different story: ETH now accounts for 33.17% of the average Australian wallet, far exceeding the global average of 19.08%.

Kraken trading data has a hint as to why this might be: it suggests this may reflect a higher concentration of professional traders locally, with Australia leading the world in BTC/USD trade size among regions with over US$1 billion in yearly trading volume.

Solana’s appeal continues to climb, with 13.79% of Australian users holding SOL compared to 11.93% globally. Kraken introduced the SOL/AUD trading pair in mid-2024 to meet this rising demand, and it has rapidly become one of the exchange’s most popular in Australia.

By contrast, older altcoins such as XRP and Cardano are relatively less popular. Just 17.55% of Australian users now hold XRP (versus 20.20% globally), and 9.45% hold ADA (compared with 12.45% worldwide).

The data indicates that Australians are quicker to rebalance their portfolios away from legacy altcoins and embrace newer tokens, reflecting a market that rewards new narratives.

Embracing memecoins

If there’s one category where Australians truly stand apart, it’s memecoins. Tokens like WIF, PEPE, BONK, and even FARTCOIN appear more frequently in Australian wallets than anywhere else.

Kraken’s analysis found that 0.99% of Australian users hold WIF compared to 0.60% globally, and similar above-average figures extend across other memecoins.

This playful streak has become a hallmark of Australian crypto participation. Beyond speculation, it represents a cultural comfort with experimentation and humour in markets, while elsewhere crypto markets are seen as purely financial.

Jonathon Miller, managing director of Kraken Australia and Rest of World, said the results reaffirm Australia’s reputation as one of Kraken’s most active and dynamic regions:

“Australia has a reputation for embracing experimental technology, from its early adoption of Bitcoin to its emergence as a hub for onchain founders. This pioneering spirit reflects a cultural mindset rooted in innovation and a willingness to explore what’s next.

“In crypto investing, that translates into a readiness to engage with new and unconventional assets. Australians tend to lean into what’s new and untested, not because success is guaranteed, but because they see an opportunity to learn through the early adoption of novel technology and cultural trends.”

This article was developed in collaboration with Kraken, a Stockhead advertiser at the time of publishing, and was written by Kraken managing director for Australia and rest of world Jonathon Miller.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.