It seems that this year is the year cryptocurrency and the crypto economy broke the global brand consciousness. According to Morning Consult’s latest research report titled “Fastest Growing Brands of 2021,” five of the 20 fastest growing brands — Coinbase (NASDAQ:) (No. Afterpay (No. 8), Cash App (No. 8), Cash App (No. 9), Chime (No. 16) — are digital groundbreakers within the fintech space.

Morning Consult was founded in 2014. It has developed a technology platform for data collection that is industry-leading in quality and provides access to over 100 million people worldwide. Morning Consult collects more than 15,000,000 interviews annually in more than 100 countries.

Its Fastest Growing Brands Report is the most definitive measurement of brand growth for emerging and established brands. This report showcases many companies and products which have increased consumer attention and awareness in 2021. This year’s report ranks the top 20 fastest growing brands that have seen the biggest rise in purchasing consideration and how that is playing out across generations.

Crypto exchange platform Coinbase saw the biggest uptick in growth of the six financial services names on this year’s list. Its banner cryptocurrency is the reason for this recognition

Bitcoin, which also secured a place on this year’s rankings, reached a new all-time high in November. Coinbase launched its first public offering in April. It has traded below that price ever since, despite increasing usage and consideration throughout the year.

Gen Z adults solidified the crypto exchange platform’s spot on the overall list with double-digit growth in their purchasing consideration (from 10% to 21%), but millennials remain the original and enduring proponents of the app, with 1 out of 4 considering the app and a roughly equal share (26%) saying they already use it.

Bitcoin is one of the best-known crypto brands. It continues to increase in popularity among U.S. citizens. Like Coinbase, its place on the list of fastest growing brands is due largely to Gen Z’s impressive uptake in purchasing consideration of the brand, from 19% in January to 28% by the end of October.

Taken together with the other crypto apps that dominate the fastest growing brands list, such as Afterpay and Chime, it’s evident that younger consumers are looking for new ways to manage their finances, grow wealth, and make purchases — which is reshaping the definition of money in the 21st century.

Morning Consult’s “Fastest Growing Brands of 2021” rankings are determined by surveying tens of thousands of people across the globe on over 4,000 brands and products every day. The “Growth” score represents the net shift between the share of consumers who said they were considering purchasing from the brand in January 2021 and the share who said the same in October.

To The Flipside

• Adoption by top-ranking crypto brands was driven by Gen Z adults and millennials.
• Five of the 20 “fastest growing brands” — Coinbase, Afterpay, Cash App, Chime, and Bitcoin — are digital juggernauts within the financial technology arena.
• Morning Consult Brand Intelligence monitors consumer perceptions of thousands of brands every day, which forms the basis of this report.

What are the reasons to care?

In 2021, cryptos and the cryptocurrency economy saw a significant branding breakthrough. Both the crypto-micro as well as macro will be adopted in 2022.

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