A survey from digital asset exchange Crypto.com estimated a 15.7% increase in the global crypto population, in January alone. Overall, there are 106 million global crypto users as of January 2021.
According to researcher Kevin Wang, at Crypto.com, strong growth in Bitcoin adoption happened to be the main driver for the peak. Major events last year, such as PayPal’s decision to integrate crypto into its payment network and institutional adoption of cryptocurrencies fueled the surge. Other than BTC, the growth of DeFi allowed Ethereum to lead the crypto market’s growth in August 2020.
The months of June and August last year and January 2021 “were exceptionally strong months” in terms of a surge in crypto population. Wang noted that such periods of strong growth in adoption accompanied periods of strong price performance in Bitcoin.
To estimate the number of global crypto owners, the calculations were made through BTC and ETH on-chain data, separately, and combined with other parameters. Crypto.com stated that the findings were subject to some limitations and caveats.
The analysis is also built on Crypto.com’s own internal data, as well as on-chain data and survey analysis. But, this may not estimate OTC users…