I want to start my article with a question like this.
How many people are actually involved in the cryptocurrency?
It is difficult to answer this question. Reports at the beginning of the year, the figure is about 100 million people globally. On a planet with a population of more than 7.5 billion, this is insignificant.
The number is estimated to have increased somewhat in the last 4 months. What is the growth rate? This is anyone's guess. However, we know that the business is expanding substantially.
Interest in cryptocurrency in the United States is beginning to reach a significant part of the country. Included in cryptocurrency are always high.
A survey was conducted by the Winklevoss Twins Gemini group. This was done to try to understand what was going on.
The results found that roughly 14% of people own cryptocurrencies. With an estimated adult population of around 260 million, this is more than 36 million people who own this cryptocurrency.
This will lead us to believe that the number of crypto users is much higher than the 100 million estimated at the beginning of the year.
Another point revealed by the survey is that we see that men outpaced women at a rate of% in this regard. The distribution is 74% to 26%. In addition, we see that this is a very popular area.
These numbers are far from mass adoption. They show how a big plus. However, it is clear that there is strong interest in future projects.
It is possible for this number to reach a total of 50 million people, approaching 20% at the end of the year.
Bitcoin Wallets
Many think the best way to look at Crypto adoption rate is to focus on wallets. Fortunately, we can reveal what the two main currencies look like with a growth area.
The number of Bitcoin wallets has increased significantly, according to Statista. Considering all the attention the leading cryptocurrency receives from institutions, this is no big surprise. This also brought along a number of wealthy individuals.
The chart is a bit misleading as the timeline for the last 3 iterations is much shorter than before. It increased from each quarter to 4 days.
However, it writes that in January there were 66 million Bitcoin wallets and currently over 71 million.
Ethereum Wallets
The second leading cryptocurrency has always attracted a lot of attention due to the number of wallets. This has long been considered a barometer of what has happened since the practices in Ethereum outnumbered elsewhere in the industry.
Recent increases in the cost of transactions may be changing this view. However, this is still a crucial chain for the ongoing expansion of the industry. More in the next section.
While the growth in Bitcoin wallets is impressive, Ethereum's growth is even greater. The network is adding more wallets more quickly. There are also twice the number of wallets compared to Bitcoin.
Using Etherscan's figures, we see that Ethereum wallets are approaching 150 million. That's over 130 million to start the year. About 18 million wallets were added in about 4 months.
Binance Smart Chain Wallets
Due to the cost of transactions on Ethereum, newcomers are gaining a lot of momentum.
BSC really started gaining interest in February for DeFi applications. Crop farming craze has been brought to this chain, which is absolutely booming. This caused a massive influx of money into the chain, driving TVL to over $ 30 billion.
It seems that this has spread across an incredible number of wallets. We see that he started to approach Bitcoin with this metric in a short time.
BSCSCAN brings this total to 67 million.
NFT Market Booming
In the first half of the year, the NFT market exploded. This is no surprise to those in the cryptocurrency industry, either. Currently anger and statistics support this.
We see that the value of the NFT market is rising rapidly. This is a move that has started bringing in celebrities as well as longtime crypto billionaires like Mark Cuban.
According to Bitdealer, the market value for NFT projects increased by 1,785%. Probably continues to rise throughout the month of April.
It is difficult to control the exact number of users. Since things are spread over a number of chains and there is some degree of anonymity in all of this, we are not sure how many people these wallets are converted to. We know that people have more than one wallet in many chains. So everything that is finalized is really an estimate.
Still, the trend is clear. While we can't get the exact figures, it's pretty clear that there are more people dealing with cryptocurrency and digital assets than at the beginning of the year.
Is this a result of the bull market? Maybe. Rapidly rising prices tend to attract many new people.
However, it is important to note that permanent changes occur. For example, DeFi is starting to offer some legal financial services. This will only expand as more development and innovation takes place.
At the same time, the world of NFTs is just beginning to open up. This will lead to a huge experiment, and some of these will have a lasting effect.
The bottom line that looks like all this is that cryptocurrency adoption is on the rise at a rapid rate. The numbers will probably be much bigger in the next few years. It will not be surprising if we see the total number of wallets pushing the 1 billion mark for these three chains alone.
I hope it has been a useful article for you. I am waiting for your likes and comments.
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