New study says the number of unique crypto asset users has increased 189% in the past year
September 25, 2020, 11:06AM EDT
1 min read
A new report published by the University of Cambridge says the number of crypto assets accounts held by service providers has increased fourfold over the last four years, with 101 million across 191 million accounts. In 2016, there were 5 million unique users across 45 million accounts.
According to the report, the number of users has increased by 189% since last year. The authors of the study said this increase could have come about due to a rise in the number of accounts, which increased by 37%, as well as a higher share of accounts linked to an individual's identity. According to the report, North American, Middle Eastern and African companies have a more geographically diverse set of clients.
The study also estimates that on average, renewable energy powers 39% of all proof-of-work mining, with hydroelectric energy being the main source. Full-time employee growth has slowed down, falling by 29% in 2019.
Finally, the study says the number of stablecoins continues to increase, with the share of service providers supporting Tether growing from four to 32% between 2018 and 2020 (support for non-Tether stablecoins increased from 11 to 55 percent.)