Over the past decade, numerous studies have examined the remarkable appreciation of cryptocurrencies, typically focusing on their prices and predictive factors. In contrast, this paper posits that the success of a cryptocurrency is determined not only by its monetary value but also by its adoption, influenced by recurring seasonality. This study specifically examines the role of seasonality and the impact of developers’ and miners’ activities on cryptocurrency adoption. Utilizing Bitcoin data, we employ a seasonal autoregressive model to analyze 4632 daily observations, investigating the effects of miners and developer’s activity on the number of end users. Our findings indicate that miners’ activity plays a crucial role in cryptocurrency adoption. These results contribute to the conventional understanding of cryptocurrency success, highlighting the significance of seasonality. By elucidating the drivers of adoption and the influence of key stakeholders, this study provides valuable insights for researchers, practitioners, and policymakers in the evolving field of fintech adoption.