A research report issued by Crypto.com reveals that, as of June 2021. the total number of cryptocurrency users has reached 221 million and is currently surpassing said landmark number. From 106 million crypto-asset users in December of 2020 to 221 million in mid-2021.
The website also noted that the main driving force was Bitcoin. Crypto adoption in January and February was initiated mainly due to the rising Bitcoin interest. However, as of May of this year, the demand and circulation of altcoins has increased exponentially,
Ethereum also surged. This was due to the growth of demand, which was in itself was initiated by institutional and retail Ethereum adoption, Crypto.com commented. Currently, Ethereum is the second-largest crypto derivative, but still very much behind BTC.
Crypto users jumped, globally, by more than 100% just in the first half of this year. Last December, the market cap for all crypto assets was around $700 billion. In May, the market cap had spiked to $2.5 trillion. In just five months, as a result of retail and institutional adoption, the crypto industry has exploded.
Meanwhile, Bitcoin surged in its network activity with BTC users increasing by almost 30% in the last week. At the time of writing this, BTC is trading around $40 000, with a market cap of around $756 billion.
