Blockchain reports May’s BTC and ETH price increases are boosting crypto adoption


Crypto company Blockchain has begun issuing monthly updates on its blog, covering product launches, feature highlights and industry analysis. In this inaugural edition, Blockchain touched on the launch of the first stablecoin used with the Blockchain wallet last month and boasted the addition of 4 million new wallets to its community in two months.

After partnering with Paxos last month to add USD PAX, Blockchain reported a “rapid rise” in the use of its wallet. The company is looking to add it to its mobile wallet as well, which it said could lead to another adoption boom. Peer-to-peer payments and savings pegged to USD will follow, according to Blockchain.

The company also introduced higher trade limits for its Swap feature, which allows users to convert crypto to crypto in-wallet, without switching to fiat first. Previously, users at “Gold level” of verification could only swap up to $5,000 per order and $100,000 per week. Now, the cap is $10,000 per swap and $50,000 per day.

The company also reported that ETH and BTC’s jumps in May equated to more adoption, since the number of wallets created in the past two months eclipsed April and May of last year by more than double.



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