Report Reveals That 106 Million People Own Crypto
From when Bitcoin was created in 2009, up until this moment, the rate at which digital assets are springing up is at an alarming rate. While some digital assets have gone into extinction, it has not deterred those developing as we now have over 200 digital assets in the crypto sector. With the increase in the number of digital assets, there is an obvious increase in the number of people adopting it.
Even though most people did not harken to the Bitcoin gospel when it was preached years ago, today has seen us witness the sector’s growth with major people now influencers and proponents of several digital assets in the sector.
Crypto.com cites reasons for wide adoption
In a recent report shared by crypto.com, the entire population of people who are dabbling into digital assets in the market has now skyrocketed to reach a mind-blowing figure of 106 million. In the report, the crypto exchange noted that the entire crypto market in January alone witnessed a surge of members, about 15.7%.
Even though this would probably result from the number of wallets, it is still unknown if more people are trying to split their digital assets into different wallets. The report also claimed that while most of the surge in the proof of Bitcoin was due to the traders and their trade activities in the sector, much of it could be attributed to the new users who entered the network.
In the data that was shared, it was discovered that the recent highs that Bitcoin experienced spaning over a month were the major reason why people flocked into the crypto market in January. While that is commendable, the report also claimed that the rise in the decentralized finance sector was another major trigger as people used the sector to carry out different activities.
Ethereum based DeFi sector was another major trigger
The data also showed that Ethereum spearheaded the rise of the crypto sector from August 2020 until now, which was the same time that the decentralized finance sector saw massive surges across the sector. The report also touched on the increased adoption by institutional investors, which spanned from last year up till this moment, citing good examples in Microstrategy, Square, and others.
Microstrategy has also added to its price surge again after it revealed that all is in place to receive another $1 billion worth of Bitcoin into its confines. Paypal added its momentum to the rise in the Bitcoin business’s patronage after the payments firm announced that it was embarking on rolling out crypto-related services.
Another report by Statista recognized Nigeria as the significant driving country in adopting digital assets. A survey shows that two out of three people have either heard about, own a wallet, and has crypto in the wallet. Google Trends also outs Nigeria in front in the country with the most searched in terms of crypto and Bitcoin. Southeast Asia has also seen a rise in digital assets’ adoption, with Vietnam a core leader.