Cryptocurrency Users Reach an Unprecedented Number

According to a new report, as of June 2021 the total number of people who use cryptocurrencies has surged to 221 million and at the moment it is surpassing that number. In comparison, in December 2020 that number was 106 million, i.e. the number of people who use crypto assets has more than doubled in just six months.

According to the same report, the main driving force behind this immense interest in cryptos is Bitcoin. People adopted cryptos back in January and February mainly because of the rising interest in Bitcoin. That said, in May 2021 the interest in various altcoins has increased exponentially.

Interest in Ethereum has increased immensely too. That happened because of the growth of demand, which in turn was started by institutional and retail Ethereum adoption. Ethereum is the second most popular cryptocurrency on the market, but still quite behind Bitcoin.

The crypto market cap also jumped immensely for the past six months. In December 2020 it was 700 billion US dollars, this May it had spiked to 2.5 trillion.

It was to be expected, I think, considering Tesla's little stunt with Bitcoin. However, I am more curious whether the interest will remain as high in the coming years. It's possible.

 

It’s time to get serious about holding. I think these levels will become a thing of the past from this point

 

Saw a story this weekend about "Who's Buying Crypto Right Now"?

1. "Medium size whales"... owning 10,000 - 100,000 BTC

2. Those owning <1 BTC.

Interesting.

 

Has it ever been any different though?

 

Yes, this can be seen on the blockchain records, but just one correction - medium size whales are not over 10,000 - 100,000. Those are huge whales

There were accumulation for the past 2-3 months on the < 1 btc crowds (retail crowd, wider user adoption, OP article)

There were accumulation as well on the 10-100 btc holders

 

The story referred to them as "medium sized whales"... that's of course "huge size" to you and me.

 

These are the known holders of bitcoins and you can see the amount of bitcoins they own. Of course there are many unknown whales who choose to be anonymous, though

https://www.buybitcoinworldwide.com/treasuries/

• Shrimps, < 1 BTC
  
  
• Crabs, 1-10 BTC
  
  
• Octopus/Fish, 10-100 BTC
  
  
• Dolphins/Sharks, 100-1000 BTC
  
  
• Whales, 1000+ BTC
  

 

Shrimps... I like that!

(Seems alt-coiners have their own vernacular.)

 

So if a couple years ago one bought a shrimp boat for ten satoshis, but now it would cost only 1 sat, does that make one dumb as a school of plankton, which whales feed upon?

 

I like shrimps and crabs more than lobster, but I'm no whale