The number of cryptocurrency holders on their wallets and the total number of users of digital crypto assets has increased by more than twice and as of now it is more than 220 million users. According to the latest report Crypto.com the biggest boost occurred at the beginning of 2021, when more than a hundred million users were added to various cryptocurrency exchanges in 3 months.
Such a rapid adaptation of cryptocurrencies among users was facilitated by various global corporations that turned their attention to cryptocurrencies and began to implement them into their systems. For example, after PayPal added bitcoin last year and Tesla allowed bitcoin as a mode of payment for cars, the number of cryptocurrency users increased dramatically.
Last year there were about 100 million crypto users, but there was a massive jump in just a year, and now there are about 220-230 million crypto users. Investors are attracted to cryptocurrencies due to their complete decentralization and independence from various world banks and governments.
MasterCard and Visa have stated that transactions that are directly related to cryptocurrencies will now be supported. Various giant companies in the banking segment also began to attract investors and crypto enthusiasts by announcing the implemented crypto products.
Not only bitcoin affects such a large-scale adaptation of cryptocurrencies, but also the entire altcoin market. Ethereum and other altos have greatly influenced the popularity of cryptocurrencies in 2021. The second largest cryptocurrency showed a huge jump in May-June, because more and more users began to use the DeFi and dApps platform networks.
Also, new script users are very attracted to various meme-coins, such as Dogecoin and Shiba. After Elon Musk began to criticize bitcoin due to the fact that it has a bad effect on the environment, these altas became very attractive in the eyes of institutions, many investors began to come to the crypto market and buy them.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.