The United Kingdom was believed to be in the top ** countries in the world in 2025 regarding crypto adoption. This is according to a model based on website traffic patterns from individual websites used for cryptocurrency transactions. The UK ranks consistently in the top ** throughout the years under consideration, although its P2P activities - ranked at position ** in 2023 - seem to lower its global ranking when compared to countries from Asia.

Consumers from countries in Africa, Asia, and South America were most likely to be an owner of cryptocurrencies, such as Bitcoin, in 2025. This conclusion can be reached after combining ** different surveys from the Statista's Consumer Insights over the course of that year. Nearly one out of three respondents to Statista's survey in Nigeria, for instance, mentioned they either owned or use a digital coin, rather than *** out of 100 respondents in the United States. This is a significant change from a list that looks at the Bitcoin (BTC) trading volume in ** countries: There, the United States and Russia were said to have traded the highest amounts of this particular virtual coin. Nevertheless, African and Latin American countries are noticeable entries in that list too. Daily use, or an investment tool? The survey asked whether consumers either owned or used cryptocurrencies but does not specify their exact use or purpose. Some countries, however, are more likely to use digital currencies on a day-to-day basis. Nigeria increasingly uses mobile money operations to either pay in stores or to send money to family and friends. Polish consumers could buy several types of products with a cryptocurrency in 2019. Opposed to this is the country of Vietnam: Here, the use of Bitcoin and other cryptocurrencies as a payment method is forbidden. Owning some form of cryptocurrency in Vietnam as an investment is allowed, however. Which countries are more likely to invest in cryptocurrencies? Professional investors looking for a cryptocurrency-themed ETF were more often found in Europe than in the United or China, according to a survey in early 2020. Most of the largest crypto hedge fund managers with a location in Europe in 2020, were either from the United Kingdom or Switzerland - the country with the highest cryptocurrency adoption rate in Europe according to Statista's Global Consumer Survey. Whether this had changed by 2025 was not yet clear.

In recent years, the gender gap in cryptocurrency adoption has become a key topic. Worldwide, men continue to lead in ownership of digital assets, while women’s participation steadily rises. For example, in a U.S. household survey by JPMorgan Chase & Co., men aged 18–49 reported ownership rates far higher than...

UK men were ***** times more likely to own crypto than their female counterparts as of November 2022. This was according to an online survey held on the ownership of mainstream cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA).

The global user base of cryptocurrencies increased by nearly *** percent between 2018 and 2020, only to accelerate further in 2022. This is according to calculations from various sources, based on information from trading platforms and on-chain wallets. Increasing demographics might initially be attributed to a rise in the number of accounts and improvements in identification. In 2021, however, crypto adoption continued as companies like Tesla and Mastercard announced their interest in cryptocurrency. Consumers in Africa, Asia, and South America were most likely to be owners of cryptocurrencies, such as Bitcoin, in 2022. How many of these users have Bitcoin? User figures for individual cryptocurrencies are unavailable. Bitcoin, for instance, was created not to be tracked by banks and governments. What comes closest is the trading volume of Bitcoin against domestic fiat currencies. The source assumed, however, that UK residents were the most likely to make Bitcoin transactions with British pounds. This assumption might not be accurate for popular fiat currencies worldwide. Moreover, coins such as Tether or Binance Coin - referred to as "stablecoins"—are" often used to buy and sell Bitcoin. Those coins were not included in that particular statistic. Wallet usage declined Total crypto wallet downloads were significantly lower in 2022 than in 2021. The number of downloads of Coinbase, Blockchain.com, and MetaMask, among others, declined as the market hit a "crypto winter" over the year. The crypto market also suffered bad press when FTX, one of the largest crypto exchanges based on market share, collapsed in November 2022. Binance, on the other hand, regained some of the market share it had lost between September and October 2022, growing by *** percentage points in November. As of 2025, the highest forecast for the global user base of cryptocurrencies is projected to reach *** million.

Bitcoin remains the benchmark of the crypto universe. Its price swings, adoption trends, and underlying network shifts continue to shape investor sentiment and infrastructure developments. From payments adoption in El Salvador to institutional treasuries stacking BTC, real-world usage is evolving fast. Dive into the following sections to explore the latest...

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Cryptocurrency Market Size 2025-2029

The cryptocurrency market size is valued to increase USD 39.75 billion, at a CAGR of 16.7% from 2024 to 2029. Rising investment in digital assets will drive the cryptocurrency market.

Major Market Trends & Insights

North America dominated the market and accounted for a 48% growth during the forecast period.
By Type - Bitcoin segment was valued at USD 7.57 billion in 2023
By Component - Hardware segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 313.81 billion
Market Future Opportunities: USD 39749.40 billion
CAGR from 2024 to 2029 : 16.7%

Market Summary

The market represents a dynamic and rapidly evolving ecosystem, driven by core technologies such as blockchain and decentralized finance (DeFi), which have fueled the creation and adoption of various applications and service types. Notably, digital assets have gained increasing acceptance in the retail sector, with major companies like Microsoft, Starbucks, and Tesla integrating cryptocurrencies into their payment systems. However, the market is not without challenges, including the volatility of cryptocurrency values, which can impact investor confidence and regulatory uncertainty. According to Statista, the number of cryptocurrency users worldwide is projected to reach 223 million by 2022, underscoring the growing importance of this market.
Rising investment in digital assets and the potential for new use cases continue to present significant opportunities for innovation and growth.

What will be the Size of the Cryptocurrency Market during the forecast period?

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How is the Cryptocurrency Market Segmented ?

The cryptocurrency industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Bitcoin
  Ethereum
  Others
  Ripple
  Bitcoin Cash
  Cardano


Component

  Hardware
  Software


Process

  Mining
  Transaction
  Mining
  Transaction


End-Use

  Trading
  E-commerce and Retail
  Peer-to-Peer Payment
  Remittance


Geography

  North America

    US
    Canada


  Europe

    Germany
    Italy
    Switzerland
    The Netherlands
    UK


  APAC

    China
    Japan


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The bitcoin segment is estimated to witness significant growth during the forecast period.

Bitcoin, the world's largest cryptocurrency with a market capitalization of over USD470 billion, is a decentralized digital currency that operates on a peer-to-peer (P2P) network, bypassing the need for central authorities. Bitcoin's popularity is driven by its use of blockchain technology, which ensures secure, transparent, and immutable transactions through digital signatures and cryptographic hashing. The Bitcoin network faces scalability challenges, requiring ongoing improvements to transaction throughput and mining difficulty to maintain network security. KYC procedures and AML regulations are crucial for regulatory compliance, with exchange protocols implementing strict identity verification processes. Bitcoin's value is influenced by cryptocurrency volatility, with mining pools and consensus mechanisms like Proof of Work and Proof of Stake contributing to the creation and distribution of new coins.

Wallet security is paramount, with hardware wallets and cold storage providing enhanced security compared to software wallets. Decentralized exchanges and smart contracts, enabled by the Ethereum blockchain and public key cryptography, offer privacy protocols and zero-knowledge proofs to ensure secure transactions. The market is continually evolving, with ongoing activities and patterns shaping the landscape. Approximately 8% of Americans engage in cryptocurrency trading, with stablecoins like Tether, USD Coin, Binance USD, and DAI playing a significant role in the market. Despite its volatility, Bitcoin's impact on finance and technology is undeniable.

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The Bitcoin segment was valued at USD 7.57 billion in 2019 and showed a gradual increase during the forecast period.

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Regional Analysis

North America is estimated to contribute 48% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth, driven by the presence of numerous market participants and innovative technological advancements in the region. The burgeoning demand for digital

In 2020, 18-to 29-year olds in the United Kingdom were twice as likely to own a cryptocurrency than their counterparts aged 45 to 60 year old. The source does not mention specifically which digital coin this concerns - whether it is Bitcoin or an alternative like Ethereum, Ripple (XRP) or Dogecoin. It does mention, however, that the results shown in this particular survey - held in ************ - were "a sharp contrast" to a previous survey from a different source in *************: In absolute figures, the owners had changed from around *** million UK adults in *************, to roughly **** million seven months later. No information is available whether UK consumers continued to purchase cryptocurrencies during November or *************, or in early 2021. Note it was during this time that the price of Bitcoin started the climb towards a value of ****** U.S. dollars.

Bitcoin ATM Machine Market Outlook

The global Bitcoin ATM machine market size was valued at $145 million in 2023 and is expected to reach approximately $1.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 25.5% during the forecast period. The rapid growth of this market is driven by factors such as increasing adoption of cryptocurrencies, rising investment in blockchain technology, and the growing need for decentralized financial systems.

One of the primary growth factors for the Bitcoin ATM market is the increasing adoption and popularity of cryptocurrencies among the general public. As more people become aware of and interested in digital currencies, the demand for accessible and convenient methods to buy and sell cryptocurrencies has surged. Bitcoin ATMs offer a simple and user-friendly interface, allowing users to convert their fiat currency to Bitcoin and vice versa in a matter of minutes. This convenience significantly boosts the market growth by making cryptocurrency transactions more accessible to the average consumer.

Another significant growth driver is the expanding investment in blockchain technology by both private and public sectors. Governments and financial institutions are exploring the potential benefits of blockchain for various applications, including secure transactions, smart contracts, and decentralized finance (DeFi). As blockchain technology gains traction, the infrastructure supporting it, including Bitcoin ATMs, is also experiencing growth. These ATMs not only facilitate the purchase and sale of Bitcoin but are also evolving to support other cryptocurrencies, thereby broadening their utility and appeal.

Moreover, the growing need for decentralized financial systems, especially in regions with unstable economies or limited access to traditional banking services, is propelling the Bitcoin ATM market. In many developing countries, people face challenges with banking infrastructure and financial inclusion. Bitcoin ATMs offer an alternative by providing direct access to digital currencies without the need for a traditional bank account. This capability is particularly valuable in regions with high remittance inflows, where people can send and receive money across borders with lower fees and faster transaction times compared to conventional methods.

From a regional perspective, North America holds the largest share of the Bitcoin ATM market, driven by high cryptocurrency adoption rates and a strong presence of major industry players. The region's well-established financial infrastructure and supportive regulatory environment further bolster market growth. Europe and Asia Pacific are also notable markets due to increasing awareness and adoption of cryptocurrencies, with countries like the UK, Switzerland, Japan, and South Korea at the forefront. Latin America and the Middle East & Africa are emerging markets, with growing interest in digital currencies as a hedge against economic instability and inflation.

Type Analysis

The Bitcoin ATM machine market can be segmented by type into one-way and two-way machines. One-way Bitcoin ATMs allow users to convert their fiat currency to Bitcoin, while two-way ATMs facilitate both the purchase and sale of Bitcoin. One-way Bitcoin ATMs have been more prevalent historically, primarily due to their simplicity and lower cost of deployment. These machines typically cater to users who are new to cryptocurrencies and looking to make their first purchase. Their straightforward functionality makes them an attractive option for small businesses and standalone deployments. However, the market for one-way ATMs is slowly saturating as more advanced technologies and user requirements are emerging.

On the other hand, two-way Bitcoin ATMs are gaining popularity due to their enhanced functionality and convenience. These machines provide users with the ability to both buy and sell Bitcoin, thus offering a more comprehensive service. As the demand for liquidity in the cryptocurrency market grows, two-way ATMs are becoming increasingly essential. They are particularly useful in urban areas and regions with a high density of cryptocurrency users. The versatility of two-way machines also makes them suitable for more complex environments such as financial institutions and large retailers. This segment is expected to witness significant growth during the forecast period due to the added convenience and user functionality.

Moreover, the technological advancements in ATM software and hardware are driving the growth of two-way Bitcoin ATMs. Improved security featu

MT Newswires’ team of highly experienced financial reporters produces timely and actionable commentary throughout the day to keep readers abreast of all the latest happenings in the digital marketplace: price spikes and price plunges in popular virtual coins, DeFi and NFT price action, regulatory updates, corporate adoption announcements, overarching industry trends, and more. Live Briefs Crypto News & Insights additionally incorporates educational “explainer” guides and longer form technical analysis to ensure that the content and crypto discovery is accessible to everyone – whether individual investors and traders entirely new to the concept or professional wealth managers looking for in-depth industry coverage to guide informed decision making on behalf of their clients. 

Every story includes relevant symbols and is category-coded to allow for seamless platform integration.

·       Top News – The most significant drivers of digital assets every day;  ·       Breaking News – real-time coverage of the events most likely to affect prices and adoption of cryptocurrencies and actively traded NFTs at any given moment; ·       Crypto Market Summaries – daily summaries covering major price action and regulatory developments globally; ·       Influencers & Social Buzz – objective coverage of the most talked about cryptocurrencies on social media and related sentiment indications; ·       Top Movers - intra-day updates on major price moves among the most popular cryptocurrencies; ·       Policy & Regulation - timely news on the rapidly evolving Digital Central Bank Currency policies with country specific regulatory developments; ·       Crypto Explainer - educational pieces to help investors understand the complex world of digital assets; ·       Get Digital - The Weekend Crypto Report, wrapping up the biggest digital currency news from the prior week and looking ahead to what may drive pricing in the week to come

Nearly two out of 10 women in the United Kingdom owned a cryptocurrency by late 2020, although the source does not mention which digital coin specifically. It does mention, however, that the results shown in this particular survey - held in ************ - were "a sharp contrast" from a previous survey from a different source in *************: In absolute figures, the owners had changed from around *** million UK adults in ************* to roughly **** million seven months later. No information is available whether UK consumers continued to purchase cryptocurrencies during November or ************* or in early 2021. Note it was during this time that the price of Bitcoin started the climb towards a value of ****** U.S. dollars.

The rollout of the Markets in Crypto-Assets Regulation (MiCA) is reshaping how digital assets cross borders within the European Securities and Markets Authority (ESMA)-regulated zone. With businesses in Germany receiving crypto payments from France, and multinational banks exploring stablecoin-based settlements across the EU, the implications are both operational and strategic....

In recent years, institutional investors have shifted from crypto curiosity to concrete risk frameworks. As digital assets mature, risk management is no longer optional but essential. For example, hedge funds now require on‑chain monitoring systems, and pension funds are mandating counterparty risk limits before allocating capital to crypto. Below, you’ll...

Bitget continues to emerge as a major global cryptocurrency exchange, blending spot, derivatives, and Web3 wallet services under a unified ecosystem. Its growth reflects both rising retail and institutional engagement, transforming how millions access crypto trading and on‑chain services. Through vast user adoption, deep liquidity, and expanding global reach, Bitget...

The use of decentralized finance, or DeFi, was highest in countries that traded or moved large amounts of cryptocurrencies, including *******************. This is a different conclusion when compared to a country ranking on cryptocurrency ownership worldwide: consumers from developing countries were much more likely to own crypto than those from developed countries. The figures shown here might therefore suggest that in countries like the United States, the UK, and India, cryptocurrencies mostly receive attention from traders and institutional investors - and DeFi is meant to either get access to crypto or to move them around.

Financial product usage across UK generations showed distinct patterns in 2025. This is according to a survey from Statista's Consumer Insights. Older generations gravitated toward established financial products including real estate and equity investments. Meanwhile, Gen Z and Millennials demonstrated significantly higher adoption rates for emerging financial products, particularly cryptocurrency.

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ASIC Miner Market Size 2024-2028

The ASIC miner market size is forecast to increase by USD 112 million at a CAGR of 6.1% between 2023 and 2028.

The market is experiencing significant growth due to the increasing profitability of cryptocurrency mining ventures and investments by major semiconductor companies in mining-specific hardware. The volatility In the value of cryptocurrencies adds an element of risk but also presents opportunities for substantial returns. Cryptocurrency mining is no longer limited to high-end PCs and computers; it is now possible to mine digital currencies using smartphones and laptops. However, the energy consumption requirements of ASIC miners have raised concerns, leading to a push towards renewable energy sources to power mining operations. This market analysis report provides a comprehensive study of the trends and challenges shaping the market, offering insights into the future growth prospects of this dynamic industry.

What will be the Size of the ASIC Miner Market During the Forecast Period?

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The market is a dynamic and evolving sector within the broader cryptocurrency landscape. ASICs, or Application-Specific Integrated Circuits, are specialized hardware machines designed for mining various cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, and Dashcoin, among others. These machines offer significant processing power advantages over traditional CPUs and GPUs, making them the go-to choice for efficient and profitable mining. Mining pools, which facilitate collaboration among miners to increase their collective processing power and earning potential, have become increasingly popular In the market. 
The market's size and direction are influenced by the ongoing development of more powerful and energy-efficient ASIC mining machines, cooling technologies, and noise reduction techniques. Additionally, the industry is exploring sustainable mining practices and alternative energy sources to minimize environmental impact. The digital currency market, fueled by blockchain technology, continues to evolve, leading to increased demand for specialized mining hardware. Overall, the market continues to grow as blockchain networks, such as Proof of Work (PoW) systems, rely on these machines to secure their networks and validate transactions.

How is this ASIC Miner Industry segmented and which is the largest segment?

The ASIC miner industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Enterprise
  Personal


Geography

  North America

    Canada
    US


  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France
    Italy


  South America



  Middle East and Africa

By Application Insights

The enterprise segment is estimated to witness significant growth during the forecast period. The enterprise sector represents a significant segment of the market, driven by the adoption of specialized hardware for cryptocurrency mining. Enterprise-level mining operations, including large-scale mining farms and mid-sized businesses, utilize ASIC miners to enhance their mining capabilities and profitability. ASIC miners offer superior performance compared to general-purpose hardware like CPUs and GPUs due to their optimization for specific algorithms. This optimization results in increased efficiency and faster processing. Enterprise-level mining requires scalable solutions to manage large volumes of mining activities. ASIC miners provide this scalability, enabling expansion without substantial cost increases. These mining machines, powered by Application-Specific Integrated Circuits (ASICs), are essential for the high-performance processing required by blockchain networks using Proof of Work (PoW) consensus mechanisms.

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The enterprise segment was valued at USD 197.90 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in North America is experiencing significant growth due to the region's early adoption of blockchain technology and cryptocurrencies, particularly In the US and Canada. The demand for ASIC miners, specifically GPU-based solutions, is high in this region as both large-scale mining operations and hobbyists utilize them for mining Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, Dashcoin, Monero, and other digital currencies. Major ASIC miner manufacturers, s

Snapshot img

Metaverse Real Estate Market Size 2024-2028

The metaverse real estate market size is forecast to increase by USD 11.58 billion, at a CAGR of 73.6% between 2023 and 2028.

The market is an evolving digital landscape, characterized by the fusion of mixed reality and cryptocurrency. This market is witnessing significant traction due to the increasing adoption of blockchain technology for secure virtual transactions. The Metaverse offers a new frontier for real estate investments, providing unique opportunities for businesses and individuals alike. The market's dynamics are shaped by several factors. One of the most intriguing aspects is the uncertainty surrounding the pricing of virtual properties. While some virtual real estate parcels fetch high prices, others remain undervalued. This volatility can be attributed to the novelty and evolving nature of the market.
Moreover, the Metaverse's potential applications extend beyond gaming and entertainment. Industries such as education, healthcare, and retail are exploring the Metaverse for innovative solutions. For instance, educational institutions are using virtual campuses to provide immersive learning experiences, while healthcare providers are leveraging virtual environments for telemedicine and patient engagement. Despite the market's uncertainty, the market's growth trajectory is promising. According to recent estimates, the number of active users in the Metaverse is projected to reach 23.3 million by 2025, indicating a significant increase from the current user base. This trend is expected to drive demand for virtual real estate, leading to potential investment opportunities.
The market presents a unique investment opportunity, characterized by its fusion of mixed reality and cryptocurrency, the adoption of blockchain technology, and the potential for diverse applications across various sectors. The market's dynamics are shaped by factors such as pricing uncertainty and the evolving nature of the Metaverse. Despite these challenges, the market's growth trajectory is promising, with increasing user adoption and the potential for innovative applications driving demand for virtual real estate.

Major Market Trends & Insights

North America dominated the market and accounted for a 78% growth during the forecast period.
The market is expected to grow significantly in Second Largest Region as well over the forecast period.
By the End-user, the Enterprises sub-segment was valued at USD 225.80 billion in 2022
By the Type, the Virtual Land sub-segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 1.25 billion
Future Opportunities: USD USD 11.58 billion 
CAGR : 73.6%
North America: Largest market in 2022

What will be the Size of the Metaverse Real Estate Market during the forecast period?

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Metaverse real estate represents a significant and expanding sector within the digital economy. According to recent estimates, the market for metaverse property currently accounts for over 1% of total digital asset transactions. Looking ahead, industry experts project a compound annual growth rate of approximately 25% over the next five years. Considerable investment activity characterizes this dynamic market. For instance, virtual land parcels in popular metaverses have seen substantial price increases, with some plots selling for millions of dollars. In comparison, the average price for a residential property in the United States was around USD350,000 as of 2021.
This discrepancy underscores the significant potential for returns in metaverse real estate. Moreover, the market encompasses a diverse range of offerings. These include virtual world economies, digital identity verification, data storage solutions, user interface design, and blockchain security audits, among others. As the market continues to evolve, the integration of payment gateway services, ownership verification, and digital asset management solutions is expected to further streamline transactions and enhance user experience. Transaction fees and content moderation policies are essential considerations for investors. While fees vary between platforms, they can impact potential returns. Additionally, adherence to data privacy compliance and legal frameworks is crucial to mitigate risks and maintain a positive user experience.
In summary, the market represents a burgeoning sector with significant growth potential. Investment opportunities span a wide range of offerings, from virtual land sales to platform integration services. As the market continues to mature, regulatory compliance and user experience enhancements will play increasingly important roles.

How is this Metaverse Real Estate Industry segmented?

The metaverse real estate industry research report provides comprehensive data (region-wise segment analysis), with for

More than ***of Gen Z customers in the UK held cryptocurrencies in 2025, making these the most popular financial products among this demographic. This is according to a survey held by Statista Consumer Insights. In contrast, other financial products such as precious metals and equity investments showed considerably lower usage rates among Gen Z consumers.

Interest in Bitcoin and cryptocurrencies in 2020 was seemingly higher in Africa and Latin America than some of the world's developed economies. This shows after analyzing Bitcoin trading volume against domestic currencies used for the transaction of the digital coin. In 2020, roughly *** million U.S. dollars worth of Russian rubles were used to buy Bitcoin on an exchange, against *** million U.S. dollars worth of Nigerian naira. The source assumes the currencies are mainly used by the domestic population - e.g., transactions made with British pounds are likely done by UK residents -, and makes the same assumption for the United States, despite the international appeal of the U.S. dollar on foreign exchange markets. Africa and Latin America lead the way Although the source does not mention all countries in Africa and Latin America, the few entries these regions do have in the list stand out. Bitcoin trading volume in Nigeria, for instance, was twice as high as that of the eurozone in 2020. Colombia's market size was twice that of Canada. Whether this interest is for actual payment use on a day-to-day basis or as a tool for investment is not really clear. Data from Statista's Global Consumer Survey on payment methods in Egypt reveals that * percent of Egyptians either owned or used Bitcoin, but does not specify the exact use or purpose of the cryptocurrency. Bitcoin: the "Renaissance" Believed by some to fade into obscurity after hitting the news in 2017 and price declines that followed afterward, the world's most well-known cryptocurrency witnessed a "rebirth" at the end of 2020: Within five days in January 2021, the price of Bitcoin soared from ****** U.S. dollars to ****** U.S. dollars. Bitcoin's market cap - calculated by multiplying the total number of Bitcoins in circulation against its price - grew as well, more than doubling in early January 2021 against November 2020.