Following Tesla’s investment in Bitcoin, the cryptocurrency surged to record highs of $57 000 but there has been an appetite for cryptocurrency for a while now according to Luno.

The exchange has reported that it now has seven million new wallets on its platform just seven weeks after it reached the six million mark. That’s one million new wallets in under two months.

And these wallets aren’t just sitting dormant. The firm reports that trading volumes on Luno have already exceeded the volumes seen in 2020.

Not that 2020 was a bad year for Luno (from a business perspective of course) as it launched in Australia and it was acquired by the Digital Currency Group.

Another slice of good news for Luno is that it has ranked number six in the CryptoCompare Exchange Benchmark for February 2021.

Not bad for a company that started off with two people.

“South Africa is one of Luno’s strongest markets and appetite for cryptocurrency trades continues to grow. Reaching seven million wallets demonstrates the growing adoption of cryptocurrencies across the globe,” Luno wrote in a press release sent to Hypertext.

“Bitcoin’s strong rally in 2021 has fuelled greater interest in cryptocurrencies, which has translated into greater customer activity and many new app installs,” the firm added.

Through Luno you can buy and sell Bitcoin, Ethereum, Litecoin and XRP (Ripple) for local currency. The firm also helps educate users through both its blog and the Luno Learning Portal. We highly recommend scrolling through the latter if you’re new to the cryptocurrency scene.

As mentioned, Bitcoin is currently seeing a resurgence so we’d be curious to see how many more users Luno welcomes over the next few weeks.