Number of global crypto users doubles in 6 months
According to calculations by the platform Crypto.com, the estimated global crypto population has doubled within six months and reached 221 million users in June.
Crypto.com opened on Thursday a new report which shows how the number of krypto users is developing worldwide and – correspondingly – which assets are driving growth. The analysis is based on a combination of on-chain data from Bitcoin and Ethereum, survey analysis and internal data from Crypto.com, according to the company. The report also takes data from 24 crypto platforms into account.
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Doubling the number of users in half a year
The analysts at Crypto.com stress that their new methodology enables a more precise estimate than before, but is still subject to numerous restrictions and reservations. That said, the report makes interesting statements.
The number of active users of crypto assets worldwide has more than doubled from 106 million in January 2021 to 221 million in June. In the period from April to June alone, the number rose by 79 million. This growth can probably be described as rapid. In comparison, it took nine months to go from 65 million to 100 million at the time.
Development of user numbers. (Source: Crypto.com)
While Bitcoin drove growth in January and February, so-called Altcoins became the new growth drivers by May at the latest. While Bitcoin and Ethereum together held a stable 80 percent of the market at the beginning of the year, their combined share fell to 61 percent in June. Meanwhile, Altcoins were able to increase their share from 20 to 38 percent over the same period.
“New challengers such as proof-of-stake protocols and meme tokens showed great potential in May, especially after bitcoin mining became more of a focus,” the report said.
Development of market shares. (Source: Crypto.com)
The report is in line with the findings of researchers at the Cambridge Center for Alternative Finance. Less than a year ago, they discovered that the number of crypto users is growing exponentially. At that time, 101 million people around the world were using crypto assets. And that was a massive increase over the 35 million that the same researchers had identified just two years earlier.
The full report is available as PDF for download.
