Business

Ed Drake

22M users in US visiting crypto exchanges each month: research

New research has shown that around 22 million cryptocurrency users in the United States are visiting exchanges each month, with the U.S. sitting alongside Japan and South Korea as the world’s most popular jurisdictions for cryptocurrency users.

The figures are drawn from a report released by software firm Data Light this week, following a survey of the country of origin of traders across well-known exchanges.

The firm, which publishes a number of different insights and reports into the cryptocurrency market, noted that the U.S. was the most popular destination for crypto users globally, with more than triple the number of the next most popular countries.

Japan was second at 6.1 million visits per month, while South Korea came third with 5.7 million. The U.K. came fourth with 3.8 million visits per month, followed by Russia in fifth with 3.1 million visits per month to cryptocurrency exchanges.

The report also found India ranking in 11th place, despite a nationwide ban on exchange financing, driving local exchanges out of business, which has been in force for over a year.

The figures were conducted on analysis of data from over 100 different crypto exchanges, to attempt to give a reflective picture of the country-by-country breakdown in cryptocurrency popularity.

The results are particularly interesting in light of sheer volume of logins, showing the extent to which cryptocurrency usage and adoption has grown in popularity.

According to the data summary from Data Light, the figures show that crypto has reached virtually all parts of the world, as it continues to grow towards global mainstream adoption. The report noted:

“Perhaps the most obvious and remarkable feature from the infographic is simply how much of the world is actually trading in cryptoassets: nearly every country on the globe is seeing some trading traffic, with the exception of Greenland and parts of central Africa.”

Despite the well-documented long-term decline in Bitcoin Core (BTC), the figures show crypto users in increasing numbers trading through exchanges online.

As the crypto ecosystem continues to develop, analysts are expecting the numbers to grow still further in future years, as more people worldwide take advantage of the benefits of cryptocurrencies like Bitcoin SV.

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