Cryptocurrencies come in a different class of volatility. There have been times when the stability of cryptocurrency was shaken because of this volatility. You never know when the new dip or crest would come.
However, recently published reports have shown that there’s one metric which has been positively rising all these years irrespective of the prices of the currencies: the number of crypto wallet users. The increasing number of users points towards a healthy growth as more people join in on the crypto bandwagon.
Back in 2012, the number of wallet users was 5,800. In contrast with that, a total of 36,616,530 users were in this year. The growth is undoubtedly bigger than any other crypto metric that matters. And this number seems to be growing each day. The last few weeks have seen the biggest flock of new users coming in which could be the result of Bitcoin’s rising prices.
These metrics are important because it helps in predicting the upcoming trends and profit/loss scenarios for the coming time. This new finding can be a good sign for the whole industry, especially now that there are so many positive changes being made.
The impact on the Industry
The more users that Crypto wallets have, the more transactions in cryptocurrencies will take place which means there would be an active usage throughout. Moreover, if enough people start making cryptocurrencies for payments, it will be easy for crypto to be accepted and distributed as a mainstream currency.
When they become mainstream, the stability of these tokens rise, giving the crypto economy a healthy boost. There are many positive changes happening in the world of cryptocurrencies, and this comes as a little report that could have easily been missed if the numbers weren’t so shocking. It makes us think where the crypto economy will go from here since everything seems to be stabilizing. Now more people are finding value in the technology. Why else would they be so interested in being a part of it if not that?
As more tokens reach the market and more technologies come up assisting traders with the exchanges, there’s more to look forward to. Instead of just being a spectator to the game, it has become easier to be a part of the game itself. And if the predictions are to be believed the best is yet to come.