Blockchain.com added a record 22.86 million unique crypto wallets in a year, between November 2020 and November 2021, according to Finbold. During this period, the wallets grew by 40.9% from 55.89 million recorded last year. Generally, this trend reflects the recent rise of the crypto space, and the several investors looking to cash in on it.
In November 2019, Blockchain.com’s investor wallets numbered 43.15 million, representing a 44.79% growth from the 29.80 million recorded in November 2018. Between 2017 and 2018, the highest recorded growth rate stood at 62.3%.
The crypto marketplace was on an upward trajectory from late 2020 due to renewed interest in digital currencies. Despite the snag it encountered earlier this year, the number of crypto wallets seems to be on a steady rise. Many owners of these unique addresses are likely retail investors looking to make huge profits from the crypto sector.
Bitcoin is up almost 350% in value. Furthermore, two significant times that the number of unique increased also happened to be when BTC was spiking in value. For instance, the highest unique wallet growth rate occurred between 2017 and 2018, after BTC first hit an all-time high of $20,000.
The record number of created wallets is also a reliable indicator of the mainstream adoption of digital currencies.
Image Credits: Pixabay
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