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July 29, 2021

A study published today by shows the number of cryptocurrency users has grown to more than 200 million by June 2021, according to the press release shared with iHodl.

Per the study, the market has more than doubled during the first 6 months of the year, to 221 million users.

To estimate the number of users, has analyzed on-chain data as well as blended parameters. In particular, information from the world's 24 largest crypto platforms has been compiled.

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According to the results of the study, the number of users almost doubled between February and May from 106 million to 203 million.

It is worth mentioning that this increase in the number of users is partly due to the adoption of altcoins rather than of Bitcoin. Institutional adoption, the facilitation of crypto trading and the tweets of Elon Musk have also contributed to this growth.

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