Thursday, September 29, 2022

Blockchain adds record 22 million unique crypto wallets in a year

Bitcoin, and other digital coins such as Ethereum and Shiba, have continued to gain acceptance as a medium of exchange.

• November 3, 2021
A photo of cryptocurrencies used to illustrate the story [Photo credit: CFO]

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

Data compiled by Finbold has revealed that 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.  

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette


‘I didn’t forget my bags’, Ruger shades Kizz Daniel as he lands in Tanzania

Ruger aimed a slight at Kizz following the latters ordeal in the same eastern Africa country in August.

President Muhammadu Buhari


Buhari restates Nigeria’s commitment to non-proliferation of nuclear weapons treaty

Mr Buhari said that expending further resources on nuclear weapons stockpiling and maintenance was senseless.


Four killed in fatal road accident in Bauchi

He said the accident involved one private car and a commercial vehicle and it was blameable on speed violation and loss of control.


Telcos threaten to cut off USSD services over banks’ N80 billion debt

The debt has now risen to N80 billion from N42 billion earlier this year, said ALTON president Gbenga Adebayo.

President Muhammadu Buhari


Buhari cautions candidates, media handlers against personal attacks during campaigns

He said that as the president, he has always reiterated his commitment to a peaceful, credible and transparent election.


My 4 wives, 28 children will vote for Tinubu, APC: Ado Doguwa

“I have done my flag off with my 28 children and four wives, who will vote for Tinubu and every other candidate of the APC.”