According to a new report, as of June 2021 the total number of people who use cryptocurrencies has surged to 221 million and at the moment it is surpassing that number. In comparison, in December 2020 that number was 106 million, i.e. the number of people who use crypto assets has more than doubled in just six months.
According to the same report, the main driving force behind this immense interest in cryptos is Bitcoin. People adopted cryptos back in January and February mainly because of the rising interest in Bitcoin. That said, in May 2021 the interest in various altcoins has increased exponentially.
Interest in Ethereum has increased immensely too. That happened because of the growth of demand, which in turn was started by institutional and retail Ethereum adoption. Ethereum is the second most popular cryptocurrency on the market, but still quite behind Bitcoin.
The crypto market cap also jumped immensely for the past six months. In December 2020 it was 700 billion US dollars, this May it had spiked to 2.5 trillion.
It was to be expected, I think, considering Tesla's little stunt with Bitcoin. However, I am more curious whether the interest will remain as high in the coming years. It's possible.
According to the same report, the main driving force behind this immense interest in cryptos is Bitcoin. People adopted cryptos back in January and February mainly because of the rising interest in Bitcoin. That said, in May 2021 the interest in various altcoins has increased exponentially.
Interest in Ethereum has increased immensely too. That happened because of the growth of demand, which in turn was started by institutional and retail Ethereum adoption. Ethereum is the second most popular cryptocurrency on the market, but still quite behind Bitcoin.
The crypto market cap also jumped immensely for the past six months. In December 2020 it was 700 billion US dollars, this May it had spiked to 2.5 trillion.
It was to be expected, I think, considering Tesla's little stunt with Bitcoin. However, I am more curious whether the interest will remain as high in the coming years. It's possible.
