Over 36 million crypto-wallet created. Is that an indication for the uptrend?

The Number of Cryptocurrency Wallet Users Keeps Rising

Data published recently shows that the number of cryptocurrency wallet users has been steadily increasing over the years, almost independently of the market ups and downs. This positive trend has continued throughout the extended bearish market and has in fact steepened in the last few weeks.

study published by market and consumer data provider Statista compiles quarterly figures for a three-year period. The number of blockchain wallet users worldwide has jumped from less than 6.7 million in Q1 2016 to over 34.6 million in Q1 2019. This has involved a constant increase, with every quarter seeing more cryptocurrency wallets than the previous one.

A more detailed graph prepared by Blockchain.com confirms the trend, which dates back to early 2013. During the whole period, there have been two noticeable spikes. The first one occurred between late November 2017 and the end of January 2018, when the number of wallets jumped by 2.5 million. The second started this April – almost 2 million new users have been registered since the beginning of the last month.

The total number of wallet users on April 30 was 36,616,530, according to Blockchain.com’s calculations. The user count towards the end of April 2012 was less than 5,800. The difference, undoubtedly, represents an enormous increase in the number of people involved in the crypto space, despite all the setbacks along the way.

Do you think it’s one of bullrun indicators?

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Source : bitcoin.com

 

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