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Cryptocurrency users have doubled since the beginning of the year

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Cryptocurrency users

Cryptocurrency users have doubled since the beginning of the year

In the first six months of 2021, the number of cryptocurrency users worldwide more than doubled and reached 221 million in July, according to a report from Crypto.com.

By comparison, it took nine months to grow from 65 million in May last year, when the research team began tracking it, to 100 million.

For the latest report, the platform specialists used an improved methodology that takes into account data from the 24 largest global crypto platforms.

Cryptocurrency users

The experts noted that the number of users almost doubled in just four months.

The main driver from January to April was the bitcoin rally, according to Crypto.com. During this period, growth was fueled by announcements from major companies such as PayPal, MicroStrategy, Visa, and Mastercard to acquire or plan to support cryptocurrency.

In May and June, the Ethereum user base showed significant growth. During this period, institutional investors continued to speak out in favor of the second largest coin by capitalization, experts recalled.

Cryptocurrency users

The period from January to April was exceptionally bullish. But in May, turning points occurred: Elon Musk’s criticism of bitcoin correlated with a fall in both the asset price and the number of users and the flagship and Ethereum. On the other hand, altcoins have increased. For example, the number of Dogecoin and Shibaswap owners increased by 50%, the researchers emphasized.

Cryptocurrency users

Crypto.com CEO Chris Marshalek has promised that the team will continue to refine market valuation techniques for better understanding.

“The growth we saw in the first half of 2021 on our platform and across the industry is very encouraging and we will continue to invest more as we pursue the goal of paving the way for cryptocurrency in every wallet,” – he concluded.

Recall that in the UK alone, the local financial regulator counted 2.3 million crypto investors. According to the survey, about 10% of adults in the country own digital assets, and 11% plan to purchase them within a year.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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