According to new research by crypto.com, the quantity of cryptocurrency users has doubled since January, hitting 221 million users.
Growth by 100 million users has taken place from January to July. In comparison, crypto.com analysts noted a growth rate of 65 million users counted when the initiative started.
Source: crypto.com
The counting methodology to estimate the global number of cryptocurrency users combines on-chain data and other parameters. According to the research, accelerated cryptocurrency adoption started back in 2020 when the DeFi sector began to grow and PayPal introduced a crypto payment gateway for users from the U.S. in November. One of the most important news that affected user database growth rates was institutional adoption by Grayscale and MicroStrategy.
Institutional adoption has continued in 2021 by Tesla and Mastercard. In addition to that, Bitcoin has been implemented in El Salvador.
Current rates of adoption and user growth keep rising due to renewed Bitcoin and market capitalization growth.
