Crypto Wallet Usage Grows Amidst Fragmentation Concerns

The number of users employing multiple cryptocurrency wallets has surged by 16% in recent years, highlighting a growing trend in managing diverse investments. This shift is attributed to the complex nature of blockchain interoperability, which requires creating multiple wallets to interact with various networks. The report published by onchain user experience platform Reown and crypto intelligence firm Nansen reveals that 62% of crypto users now utilize at least two wallets for their assets, compared to 45% in 2024. This increase is attributed to the expanding DeFi landscape and a surge in institutional investments, according to the research.