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Crypto User Numbers Double in 6 Months
Research carried out by Crypto.com identified more than 220 million users of crypto by the end of June.
Updated May 9, 2023, 3:22 a.m. Published Jul 29, 2021, 11:44 a.m.
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The number of crypto users doubled in the first half, according to Crypto.com.
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- Research carried out by the exchange identified more than 220 million users of crypto by the end of June, according to an emailed statement.
- The company said it used on-chain data and other parameters to compile the figures from 24 of the largest crypto platforms.
- February to May was particularly active, with numbers surging to 203 million from 106 million. Much of the growth during May, when China's clampdown on bitcoin miners tightened and Tesla CEO Elon Musk commented on bitcoin's carbon footprint, came from adoption of altcoins. The share of altcoin holders increased from as low as 20% of the total between January and April to about 37% in May and June.
- The figure compares with the nine months it took for the user base to reach 100 million from 65 million.
- “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,” Crypto.com CEO Kris Marszalek said in the statement.
See also: Africa ‘Is Leading Global Cryptocurrency Adoption’: Paxful CEO
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- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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