New report: Boomers and zoomers flocking to crypto

Bitcoin had a miserable Q1. But there were some definite positive signs elsewhere, according to CoinMarketCap.

2 min read

Apr 30, 2020

The wild volatility of crypto revealed an especially interesting trend during the disastrous last quarter: huge interest among the youngest—and oldest segments—of the population, according to a new report from CoinMarketCap.

The quarterly report, released today, showed that the biggest growth in traffic to the site came from 18-24 year olds, which measured 46%; hot on the zoomer’s heels were the boomers, 65 years and older, at 41%. (The company said these demographic estimates are based on Google Analytics and other tools.)

Crypto cats

“It seems the youths and their grandparents might have more in common that most of us would think,” Carylyne Chan, Chief Strategy Officer and interim CEO told Decrypt. CoinMarketCap is among the largest crypto asset reference sites in the world, and was recently acquired by Binance for a rumored $400.

According to the report, Bitcoin—which surged more than 15% in trading yesterday—really felt the heat during Q1. Its price decreased by a massive 43% on one day March 12; overall, it was down 9.78% for the quarter.

Bitcoin's Q1 meltdown

Weirdly, “most of the top 10 other crypto assets performed better than Bitcoin in Q1,” said Chan. “Even the rest of crypto as a whole suffered less losses in market cap, as compared to Bitcoin.”

Indeed, BSV rose by 76.0%. LEO by 26.83%, LINK by 25.4%, XTZ by 20%, and BCH by 10.48%.

In addition to their numerical analysis, CoinMarketCap flexed its global user base data to highlight that the base of people interested in cryptocurrency is expanding yet again. Among other things, it reported that:

Q1 saw the strongest female user growth. Women between the ages of 18-24 increased 65%.
In the Americas and Europe, female user growth increased by more than 50%.
More than 80% quarter-on-quarter growth came from mainly nine countries: Venezuela, Colombia, Argentina, Indonesia, Ukraine, Portugal, Argentina, Romania and Greece.

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