It seems the recent upsurge in crypto prices has attracted more people into the industry. Crypto wallet, Blockchain, reported that the ongoing Bitcoin bull market had left a positive impact in their operations, even as it hopes to enhance its product portfolio further.
In their monthly update which also touched on products they hope to roll out in the future, analysis of the industry and feature highlights, Blockchain said they had added four million more wallets. The new accounts were added over the past two months.
The sudden increase in crypto wallets could partly be attributed to their support of stablecoin PAX, a token they started supporting from early this year. They also increased the trade limit in their Swap feature, something which could have possibly led to more new investors signing up.
Using the Swap feature, users can freely swap crypto for crypto instead of using fiat, everything happening on the wallet. Before the new limit came into effect, users could only exchange a maximum of $5,000 in a single order and a total of $100,000 in a week. Today, one can swap as much as $10,000 at once and $50,000 a day.
The update further showed that the four million wallets created dwarfs the number of wallets created in April and May last year by over double. According to Blockchain, the current surge in the price of BTC and ETH is responsible for the increase.
As Blockchain looks for ways of adding better capabilities to their wallets, they are confident it will enhance its user base even further. Some of the features they are looking into include introducing P2P payments and savings services.