Market Overview

Global Crypto Adoption Crosses 100M Users: Report

Global Crypto Adoption Crosses 100M Users: Report

What Happened: Global crypto adoption surged by 15.7%, with over 106 million crypto users in January 2021, according to research from

Analysts from the cryptocurrency exchange claim that this increase in adoption was largely influenced by Bitcoin (CRYPTO: BTC) adoption after its price skyrocketed earlier this year.

This wasn’t the only contributing factor, as adoption rates appeared to pick up most during the latter half of 2020, following Paypal Holdings Inc (NASDAQ: PYPL) opening crypto purchases to investors and the more extensive institutional adoption seen by Tesla Inc's (NASDAQ: TSLA) $1.5 billion Bitcoin purchase.

Why It Matters: This year marks the first time that global crypto adoption has surpassed 100 million users.

“What we notice is that periods of strong growth come after periods of strong price performance in Bitcoin,” said the analysts at

According to them, Bitcoin’s rally was fuelled by existing users, but it was the new users that sustained its price.

While months prior to January 2021 saw the growth in new users increase by less than a single percentage point, new users increased by over 15% in January alone.

What Else: Interestingly, Bitcoin wasn’t the only driver of crypto adoption, despite the fact that its recent rally made waves across the globe.

Statistics show that the second-largest cryptocurrency by market cap, Ethereum, led the crypto market’s growth in August 2020, during the height of the DeFi mania.

Both Bitcoin and Ethereum dipped sharply today below crucial support levels, with Bitcoin under $50,000 and Ethereum under $1,500.

Despite the selloff, market sentiment was still far from all round panic, as the crypto fear and greed index depicted extreme greed.


Related Articles ($BTC)

View Comments and Join the Discussion!

Posted-In: Bitcoin cryptocurrencies EthereumCryptocurrency News Global Markets General Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at