The number of crypto users around the world grew to 221 million in June, double the number in January, according to a report released today by Hong Kong-based cryptocurrency exchange, Crypto.com.
- Bitcoin drove the growth in crypto use from January to April, with companies such as Microstrategy, PayPal, Tesla and Visa buying into Bitcoin or announcing plans to support crypto, but significant altcoin adoption from May propelled the global crypto population to a new high, according to the report.
- Ethereum as well as proof-of-stake protocols and meme tokens such as Shiba Inu and Dogecoin gained traction in May, especially after Bitcoin mining came under criticism for its carbon footprint.
- The growth in global crypto users peaked in May after Bitcoin’s price topped out at over US$64,000 in April. Bitcoin lost market share with its dominance and the proportion of Bitcoin-only holders declining from its highs in December.