- Cryptocurrency adoption has doubled in the first half of 2021.
- Crypto users went from 100 million to 200 million in just four months.
- The crypto market has grown to a total of 221 million users.
Cryptocurrency adoption globally has doubled since January, latest research reports from Crypto.com have revealed. The first half of 2021 saw the crypto market grow to a whopping 221 million users. The research assessed on-chain data with additional blended parameters to estimate the number of global crypto owners. It compiles data from the 24 largest crypto platforms worldwide.
Key takeaways from the report:
- Global crypto users have increased to 221 million by June 2021.
- Crypto users all over the world took only four months to increase almost to double its size. The number went up from 106 million to 203 million from February 2021 to May 2021.
- January and February majorly contributed to the high crypto adoption this year, however, May performed the best in increasing market size as well as user base increase.
- Important factors that pushed crypto adoption include massive institutional interest, added support for cryptocurrency by major businesses, and finally the celebrity effect coming from the likes of Elon Musk.
The study specifically focused on Bitcoin adoption, Ethereum adoption, and other altcoin adoption, while comparing them during the chosen time period. This way it was able to form a full picture of the way crypto adoption has progressed in the first half of this year.
The research helps draw important conclusions. For instance, it only took four months for the global crypto user base to double—from 100 million to over 200 million. This shows rapid growth as we can compare it to the nine months it took for the crypto user base to reach 100 million from 65 million in May 2020 (when Crypto.com began using new research methodology).
Kris Marszalek, Co-Founder, and CEO of Crypto.com commented,
“Our Research and Insights team have continued to fine-tune their market assessments, giving us and the broader community a clear understanding of the market”. He further talked about the research’s result saying, “The growth we have seen in the first half of 2021 on our platform and industry-wide is very encouraging, and we will continue investing heavily as we pursue our goal of putting cryptocurrency in every wallet.”
Click here to read the full report.