Cryptocurrency transactions have continued to expand following global acceptance of decentralised finance. 

Data compiled by Finbold has revealed that Blockchain.com added a record number of  22.86 million cryptocurrency wallets between November 2020 and November 2021.

Finbold noted in its report that in the period of review, cryptocurrency wallets grew 40.9 per cent from 55.89 million recorded last year. As of November 2020, Blockchain recorded 78.74 million wallets.

The report noted the link in new accounts and the investors intending to get involved in the cryptocurrency sector. 

It notes that in November 2019, the wallets stood at 43.15 million, growing 44.79 per cent from November 2018’s figure of 29.80 million. Between 2017 and 2018, the highest growth rate was recorded at 62.3 per cent.

The record number of wallets created also indicates the mainstream adoption of cryptocurrencies.

Bitcoin, and other digital coins such as Ethereum and Shiba, have continued to gain acceptance as a medium of exchange. In October, digital assets saw a fresh hike in value after the launch of the first exchange-traded fund tied to bitcoin futures ProShares Bitcoin Strategy ETF.