Cryptocurrencies accumulated around 17 Mln “verified users” this year, in line with a recent study ‘revealed‘ by the Cambridge Centre for alternative Finance.As per the study report, within the Q1 to Q3 of 2018 the number of ID-verified crypto users nearly doubled, adding from eighteen million to thirty five million.
In line with Bloomberg ‘analysis‘ of the study, the expansion of the user base this year with the crypto markets ongoing downfall “could signal that an ultimate recovery might be coming back.” The analysis additionally noted that “most users are probably still speculators and long term investors.”
In terms of breaking down who is investing in cryptocurrencies, the Cambridge analysis team additionally claims that the info “indicates that the major users — both established along with the new entrants — are people and not business individuals.” Those people, the document explains, may be “hobbyist retail investors, consumers, or users seeking a far better investment or payment alternative.”
As per last week report, despite dismal market conditions bringing down the USD value of its assets beneath management, Grayscale’s Bitcoin investment company has seen a record range of Bitcoin [BTC] deposits this year, bringing its Bitcoin [BTC] holdings to over one percent of the coin’s entire circulation supply.
However, an another analysis of the ICOs [Initial Coin Offering] market in Q3 of this year in Nov. has outlined the ‘funding‘ method’s performance an “overall disappointment.”