Most surprising crypto statistics of 2021 – DailyCoin

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Cryptocurrencies are a relatively new invention. Over the past few years, they have grown in popularity due to their mainstream popularity. It also revolutionized many industries, especially the banking sector. Many fintech companies are based on blockchain and cryptocurrencies. For example, crypto is now used for cross-border payments and remittances, filling a void left by traditional banking systems. As a result, investors have found crypto to provide excellent investment opportunities. It is therefore imperative that you understand the scope of cryptocurrencies. We’ve narrowed down some of the most surprising crypto stats you should know about.

1. Bitcoin topped $ 1 trillion in market value for the first time

In February, bitcoin took another step forward after reaching a market cap of $ 1,000 billion. The price of Bitcoin was trading slightly above $ 53,500. It was the first time that a cryptocurrency reached a market cap above $ 1,000 billion. However, bitcoin is currently trading at $ 47,170, with a market cap of $ 892 billion. Ethereum is the second largest crypto and can achieve the same feat if, at least, it doubles its price.

2. The value of the global cryptocurrency markets increased by almost 3000% between 2020 and 2021

The total cryptocurrency market has grown from $ 100 billion at the start of 2020 to $ 3 trillion in 2021. This represents a 3,000% growth. However, the market value fell to $ 2.22 trillion. Future growth will be influenced by the growth of large cryptos, especially bitcoin and ethereum. Valuates Reports estimates that the size of the global cryptocurrency market will grow at a CAGR of 12.8% from 2021 to reach $ 4.94 billion by 2030.

3. Shiba grew 26 million percent in one year

According to crypto-academy.org, Shiba was trading at $ 0.0000000003 in the third quarter of 2020. The price proliferated in 2021, hitting an all-time high of $ 0.00008 in October, growing over 26 million for hundred in just over 13 months. This is the fastest growing cryptocurrency in 2021. To put it in perspective, a $ 10 investment brought in $ 266 million. In 2021, the price has fallen from $ 0.00000001 in January to $ 0.00003 at the end of the year, or more than 330,000% in one year.

4. There are 34,000 Bitcoin ATMs

Bitcoin remains the largest cryptocurrency, commanding almost half of the cryptocurrency market. Growth and increasing adoption have necessitated improvements in the infrastructure supporting bitcoin. The number of bitcoins rose to 34,000 from 14,000 at the start of the year.

Most of these machines are in the United States, with just over 30,000. Canada comes in second with around 2,200 Bitcoin ATMs. El Salvador, which made Bitcoin legal tender in September, takes third place with 200 Bitcoin ATMs. How Bitcoin works is quite different from conventional ATMs. It allows people to trade bitcoin for fiat currencies and sell fiat currencies for bitcoins.

5. There are over 300 million cryptocurrency users in the world

In 2020, the number of users whose identity has been verified crossed the 100 million mark. Binance reports that the number rose to 300 million in 2021, representing about 3.8% of the world’s population. This number represents 5.8% of the population aged 15 to 65 and is set to increase as crypto adoption grows.

6. The value of the global cryptocurrency theft in 2020 was $ 513 million

In 2020, crypto theft from scams nearly hit the all-time high in the running of the bulls of 2017. $ 7.7 million was stolen from crypto scams around the world, an increase of 80% from 2020. According to Chainalysis, Rug Pull accounts for the bulk of the crypto theft at $ 2.8 billion. This is 28% of the crypto total compared to the 1% recorded in 2020. Carpet draws are where developers abandon a project and disappear into thin air with investor funds.

7. India has the most crypto owners at 100 million

India leads the country with the most crypto users. According to Triple-A, India leads with 100,740,320 crypto users, followed by the United States with 27,491,810. Russia and Nigeria follow with 17 million and 13 million respectively. 12.73% of the Ukrainian population owns crypto – the highest percentage in the world.

8. There were over a million Ethereum transactions every day in 2021

Ethereum processes over a million transactions per day. According to data from Y Charts, Ethereum processed between 1.057 million and 1.717 million transactions daily. That’s more than six times the bitcoin transactions that averaged 250,000 in June.

9. There are over 16,000 cryptocurrencies

Developers are creating new cryptocurrencies every day. According to Coin Market Cap data, there are over 16,000 cryptocurrencies listed on 451 crypto exchanges.

10. 18,000 businesses already accept cryptocurrency payments

Did you know that you can pay for goods and services using Bitcoin? You probably do. What you may not know is that 18,000 businesses around the world accept bitcoin payments. Deloitte reports that 2,300 US companies were accepting bitcoin payments at the end of 2020, excluding bitcoin ATMs. Major companies that accept crypto payments include AT&T, Microsoft, Overstock, Twitch, Pizzahut, and NewEgg. Amazon, Mastercard, Visa and Tesla are also considering joining the group.

11. The United States controls a hash rate of 35.4%

The United States IS THE TOP DESTINATION for bitcoin miners. It now controls 35% of the bitcoin hash rate according to the Cambridge Center for Alternative Finance. The hash rate refers to the computing power of the miners. The United States edged out China after the Chinese government banned crypto mining. At its peak, China controlled 67% of the hash rate as of September 2020.

12. The top 10 cryptocurrencies represent 88% of the total market value

Cryptocurrencies have varying market prices and capitalization. Bitcoin, which enjoys a first-come-first advantage, was, at one point, more valuable than all other cryptocurrencies combined. However, it is losing market share to Ethereum and other altcoins. The top ten cryptos have drastically absorbed Bitcoin’s declining market share. Lower-ranked cryptos have reduced value, especially due to low demand and popularity. The surprising fact is that Bitcoin, Ethereum, Binance coin, and other top ten cryptos control around 88% of the total crypto market value.

13. Merchants who accept crypto payments enjoyed an average return on investment of 327%

One of the areas cryptos are revolutionizing is online payments. People who hold cryptos find it convenient and inexpensive to pay using digital currencies. Companies that accept crypto therefore attract cryptocurrency users. This explains the huge return on investment of 327% of traders who accept cryptos.

On the reverse

The crypto market hasn’t been all rosy. While statistics paint a tantalizing growth story, some cryptos are experiencing a downward race. For example, Bitcoin fell from a high of 65,000 and is now trading at 47,000. Shiba Inu has lost over 70%.

Why you should care

According to these statistics, the crypto market has developed on all fronts and is ready for further expansion. However, you should carefully choose which digital assets to invest in to reap profits. Otherwise, you risk incurring losses if you invest in a plummeting digital currency.

Conclusion

2021 was the year the crypto market exploded and hence the startling statistics. We expect more growth in the crypto market in 2022 and perhaps more surprising statistics and fun facts.

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