Cryptos are Treading Water…But Still Gaining Interest

April 12, 2022

The total cryptocurrency market cap plunged by more than -30% in the first month of 2022 — Since then, the crypto market leaders, Ethereum ($ETH) and Bitcoin ($BTC), have entered a mind-numbing loop of recovery, sell-off, and then recover again.

Despite a lack of definitive price action, LikeFolio data clearly shows that the number of cryptocurrency traders is still growing.

Individual Investor’s Mentions of trading cryptos and other digital assets are at an all-time high on a 90-day moving average: +64% QoQ and +212% YoY.

Most crypto-related trends have continued to show robust year-over-year growth:

Although the 2022 crypto market has been relatively boring compared to the +100% run seen in early 2021, steady growth in underlying cryptocurrency trends suggests that hype is being replaced by meaningful adoption.

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