Altcoins like dogecoin and shiba inu coin drove a 54% surge in crypto users in the 2nd quarter, data shows
- Altcoins drove a 54% surge in
cryptocurrencyusers in the second quarter, data shows.
- At the end of June, there were 221 million users compared to the 132 million towards the end of April.
- It took just four months to double the number of global
cryptousers from 100 million to 200 million.
At the end of June, there were 221 million users compared to the 132 million towards the end of April.
Dogecoin, now the eighth-largest digital asset, has rocketed 4,175% this year, far surpassing
Shiba inu, a new coin founded in August 2020, has been trading flat, though the
Both coins, which bear a shiba inu dog as their symbols, have gotten some semblance of approval from the wider crypto community.
Dogecoin can now be bought and sold through Coinbase, the largest cryptocurrency exchange in the US, while shiba inu coin was listed in Binance-owned WazirX, the largest cryptocurrency exchange in India.
Overall, the cryptocurrency space has been rapidly evolving as more institutions embrace digital assets. It took just four months to double the global cryptocurrency user base from 100 million to 200 million, whereas it took years before the 100 million milestone was even reached, according to data.
The second half of 2021, in particular, saw an acceleration in cryptocurrency adoption due to a confluence of events, from heavyweights such as Tesla accepting bitcoin as a mode of payment (a move it has since reversed) to MicroStrategy's continued investment in the cryptocurrency. El Salvador made history earlier this year as the first country in the world to adopt bitcoin as legal tender.
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