Crypto usership is going up at an exponential rate, per researchers at the Cambridge Centre for Alternative Finance, with over 100 million people worldwide now making use of cryptoassets – a massive increase from the 35 million figure the same researches identified just two years.
According to a new study, the number of identity-verified cryptoasset users has shot up from 35 million globally to “101 million unique cryptoasset users across 191 million accounts.”
The paper’s authors, Blandin et al, believe that decreased anonymity has contributed to the ease with which researchers can identify crypto users – as well as the fact that many crypto users now make use of multiple crypto wallets.
“Service providers operating from North America and Europe generally report higher user activity, with the median firm indicating that 40% of total users are considered active.”
Here are some other key takeaways:
- North American and European firms report that an average of 30% of their customers are business and institutional clients.
- By contrast, 41% of Asia Pacific region-based crypto companies serve miners – a fact that goes to show how many crypto miners are active in regions like China
- Cryptoasset service providers primarily serve cryptoasset hedge funds (37%), online merchants (30%) and crypto miners (27%)
- Mining actors, in particular mining pools are active users of Asian crypto exchanges
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