Cryptocurrencies

Millions of new Bitcoin (BTC) and crypto wallets in July, user numbers explode – Cryptocurrencies

Thousands of new cryptocurrency wallets created during the summer

For any investor who is taking his first steps in the Bitcoin (BTC) and cryptocurrency universe, opening a portfolio on dedicated platforms or applications is a must. The evolution of the numbers in this area over the years is an indicator of the adoption of cryptocurrencies around the world. This exercise was carried out by Apptopia which has followed the momentum of opening new wallets on top cryptocurrency apps. It emerges that the year 2020 more precisely the month of July set a new record in this area


81.4% increase over the same period of the previous year

Data published by Apptopia are related to figures produced monthly (July 2018 to July 2020) by the top 10 cryptocurrency applications in terms of new open portfolios. Are therefore concerned by this study Coinbase, Blockchain Wallet, Crypto.com, BRD, Trust, Luno, Binance, Bitcoin Wallet, Bitcoin Wallet by Bitcoin.com and Coinbase Wallet. Thus, the number of new portfolios on these applications has increased by around 81.4% compared to the previous year. The month of July 2020 also shows the highest performance with no less than 3.5 million new memberships.

During the previous year, this figure has averaged just under two million. However, this limit was crossed during the months of May and June without reaching the three million observed more than once in 2020. The report by ’Apptopia Also provides information on another parameter no less important than that of the daily use of wallets on these applications. We learn that ” Coinbase and Crypto.com both achieved highest daily active user count in history “. Coinbase is doing so with a daily activity of 969,000 users compared to 576,000 for Crypto.com.

Pub

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

Statistics on the use of the main cryptocurrency applications in 2020

The factors that favored this rapid growth

To explain these record figures, the report states that the growth in the number of open wallets started at the time of the generalization of quarantine in different countries. However, given the volatility of this market, Apptopia took a while to notice that this growth was in fact real and lasting. The second factor mentioned is nothing other than ” the fact that cryptocurrency is becoming more and more common in emerging markets, especially in parts of Africa “.

The country that best symbolizes the development of an African cryptocurrency market is none other than Nigeria. Crypto.com for example known a 339% increase in new wallets in the quarter before the Apptopia report came out compared to Coinbase’s 113% increase. A trend that has been confirmed by Bitcoin.com or Nigeria is the country with the most new portfolios on its application between August 10 and 16. With 3,473 portfolios, the country therefore holds more than 18% of the 18,613 newly identified portfolios over the period.

Pub

Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

In view of the dynamics over the summer, 2020 has not finished with the massive arrival of individuals in cryptocurrency applications. Is the market finally ready for further mass adoption? No doubt the community would welcome this event with open arms! And the price predictions recently made by some personalities in the ecosystem point in this direction!

Tags

Related Articles

Back to top button
Close
Close