Crypto users increase two-fold in 2018 amid market crash

Crypto users rose from 18 million to 35 million in December 2018.
“The increase is significant and does offer the industry some Christmas cheer.”

A recent study conducted by Cambridge University’s Center for Alternative Finance has found that users in the cryptocurrency industry doubled this year amid the extended market crash this year. The report was released following the second study dubbed Global Cryptoasset Benchmarking Study.

According to the report, the users increased from 18 million recorded in January 2018 to 35 million, the numbers in December. Moreover, the number of individual accounts was standing at 150 million at the time of publishing the report. However, is vital to note that only 38% of all these accounts are active as per the data on various exchanges.

The news of the rise is sweet to the years after cryptos fell head first in 2018. Bitcoin has lost over 80% of its all-time value while the majority of the altcoins are down more than 90% in comparison to the levels in January 2018. According to, BitcoinNews.com, a news outlet:

“The increase is significant and does offer the industry some Christmas cheer given Bitcoin’s tumultuous annus horribilus, seeing it lose 80% of its value since last December. The report also indicates that multi-coin support is expanding which, at the end of 2017, was the staple of 47% of all service providers.”

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