Survey: Global Cryptocurrency Adoption Increases By 221 Million Users In 2021

Cryptocurrency users doubled from January to June 2021 (Moneycontrol)

JAKARTA – A recent study shows that the use of cryptocurrencies has increased from January to June 2021. The survey was conducted by Crypto.com, a crypto trading company. They found a two-fold increase from before.

According to Bitcoin.com News, the increase was due to the rise of the Decentralized Finance (DeFi) movement, Tesla, which plans to accept purchases of electric cars with Bitcoin, Microstrategy, Visa, Mastercard, and El Salvador, which adopts Bitcoin as the country's official medium of exchange.

As is well known, El Salvador has made an important move in doing important things in the history of cryptocurrencies in general. This is a breath of fresh air in the development of cryptocurrencies.

Crypto.com found that cryptocurrency adoption skyrocketed from 106 million in early 2021 to 221 million users. This was influenced by the bullishness of Bitcoin which broke its all-time high price (ATH) in the first quarter of 2021 ago.

The survey titled “Measuring Global Crypto Users” is based on a collection of data from a number of leading crypto trades such as Binance, Huobi, Kraken, Gemini, Bitfinex, Okex, and Upbit.

During the second quarter, Ethereum (ETH) experienced investor growth due to positive sentiment towards the cryptocurrency. The boom of meme coins is pushing it to new levels. Call it Dogecoin (DOGE) and Shiba Inu (SHIB) whose popularity has increased in recent months. The coin received support from Elon Musk, which made DOGE and SHIB in the public spotlight.

Previously, in May 2020 a survey noted that the growth of crypto users took 9 months to grow from 65 million to 100 million users. However, now it only takes 6 months to reach 221 million out of 106 million users. In addition, the percentage of altcoin investors also experienced significant growth from 20 percent, growing to 38 percent at the end of the second quarter.

Crypto.com CEO Kris Marszalek said that the rapid growth was very encouraging for the entire cryptocurrency industry.

“The growth we have seen in the first half of 2021 on our platform and across the industry is encouraging, and we will continue to invest heavily as we pursue our goal of putting cryptocurrency in every wallet”, said Marszalek.