Report Predicts 1 Billion Cryptocurrencies in 2022

Crypto.com has released its “Crypto Market Sizing” report, which is considered a key indicator of global crypto adoption. Analysis by Crypto.com, the industry’s leading research team, shows a 178% increase in cryptocurrency users in 2021. That’s a total of nearly 300 million people who discovered cryptocurrency for themselves by the end of the year. from last year. The report anticipates that the number of cryptocurrency users will exceed one billion by the end of 2022.

The Crypto.com report reviews the pivotal events of the crypto space in 2021. In addition to electrical manufacturer Tesla, credit card provider Mastercard is also recognized for its crypto adaptation efforts. Events like The ₿ Word conference also helped bring cryptocurrency to the attention of the general public. El Salvador has also caused a stir with its Bitcoin policy.

While some crypto giants speculate that Ethereum could eventually replace Bitcoin as the top cryptocurrency, the report clearly sees Bitcoin as the top growth driver in the crypto space. The introduction of Ethereum 2.0 could not change that. The Crypto.com report attributes the weaker role of Ethereum in the development of mainstream cryptocurrencies to two factors. These include the rise of alternative ecosystems that are direct competitors to Ethereum, such as Terra and Avalanche. Layer 2 solutions that transfer assets from Ethereum to other chains would also hamper further distribution.

Last week, cryptocurrency exchange Crypto.com had to deal with a hacker attack that has so far affected the wallets of 483 Crypto.com users. The total amount of damage currently stands at around 33 million US dollars. in one Interviewed by Bloomberg However, Crypto.com CEO Kris Marszalek made it clear that customer deposits were never at risk.