Singapore, January 20, 2022 – Crypto.com released its ‘Crypto Market Sizing’ report that measures crypto adoption worldwide. The analysis, conducted by Crypto.com’s industry-leading research team, found that the global crypto population increased by 178% in 2021, with crypto users totaling almost 300 million. The number of crypto users is expected to break one billion by the end of 2022.
Since the first edition of ‘Measuring Global Crypto Users’ in June 2020, Crypto.com’s market sizings reports have documented the world transition toward cryptocurrencies. The company regularly updates its on-chain market sizing estimates to account for the increasing number of players of both users and service providers in the crypto world, and predict new records in the global number of crypto owners for 2022:
Remarkable crypto adoption in the first half of 2021
- Crypto adoption was remarkable in the first half of 2021. Heavyweight institutions, such as Tesla and Mastercard, took steps to embrace cryptocurrency. In March, Visa collaborated with Crypto.com to settle payments in crypto. There was more and more discussion of crypto in the community (e.g. ‘The ₿ Word’ event), which functioned as a catalyst for the wider public. Later in the year, El Salvador introduced legislation that will make it the world’s first sovereign nation to adopt Bitcoin as legal tender.
Bitcoin is the main driver of growth
- Bitcoin drove much of the growth and outperformed Ethereum adoption in the latter half of 2021. Bitcoin, the first-ever cryptocurrency, likely also gained market shares from altcoins. The weaker role of Ethereum as crypto goes mainstream is likely due to two factors: The emergence of alternative ecosystems that are direct competitors to Ethereum, like Terra and Avalanche together with Layer 2 solutions that bridge assets away from Ethereum to other chains.
For more details, download the full report here.
Founded in 2016, Crypto.com serves over 10 million customers with the world’s fastest-growing cryptocurrency and financial services platform. Crypto.com is built on a foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks, as well as Service Organization Control (SOC) 2 compliance.
With over 3,000 people in offices across the Americas, Europe and Asia, Crypto.com is accelerating the world’s transition to cryptocurrency. Find out more: https://crypto.com