A report filed by CoinTracker has revealed the top four ranked cities in terms of the size of the average crypto portfolio are in the San Francisco Bay Area of California.

Based on user data collated by crypto tax tool CoinTracker over the past seven years, the top four cities are San Francisco proper at around $55,000 followed by Palo Alto with $39,000, Oakland with $35,000 and San Mateo with $30,600.

Just four cities outside California in the United States contain investors whose average cryptocurrency holdings surpass $20,000. Seattle, New York, Tampa, and Pittsburgh are home to investors holding on average between $27,000 and $21,000.

As per a Cointelegraph report, the findings reveal a substantial concentration of digital currency investors in San Francisco and New York, with their joint “crypto user index” approximately matching that of the next four top-ranked cities combined.

The report shows San Francisco is the top crypto city in the U.S. in terms of the number of investors, therefore scoring a user index of 100.

New York came in second, with a user index rating of 92. That said, it is in sixth place by the average value of holdings at close to $23,000.

In third place is Los Angeles, with the third largest density of crypto investors with a user index of 57.2, followed by Chicago with 48.8, and Seattle with 39.7.

Furthermore, Bitcoin investments make up 50.3% of CoinTracker users’ crypto portfolios, followed by Ether at 28.7%.
In third place is Tether with 4.1%, followed by Litecoin at 3.3%, Ripple at 3.1%, Chainlink at 1.9%, and Bitcoin Cash and Tezos with 1.7% each.

The top eight crypto assets in terms of popularity make up 94.8% of U.S. virtual currency holdings combined, with other cryptocurrencies each representing under 1% of total capital in the crypto markets.