Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
    • Quizzes
  • Crypto Prices
  • Contact Us
Reading: Crypto Users Surge Over 580M Globally in 2023 – Crypto.com
Newsletter
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
[ccpw id="20060"]
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
  • News
    • NFT News
    • Metaverse News
    • Bitcoin News
    • Ethereum News
    • Altcoin News
    • DeFi News
    • Blockchain News
    • Web3 News
    • Press Release
    • Hacks and Scams
    • Sponsored Post
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Ethereum
    • Cryptocurrency Exchange
    • NFTs
    • DeFi
    • Web3
    • Metaverse
    • Blockchain
    • Trading
    • Crypto Guide
    • Quizzes
  • Crypto Prices
  • Contact Us
Reading: Crypto Users Surge Over 580M Globally in 2023 – Crypto.com
Newsletter
Crypto Market Highlights May 23, 2022 Crypto Market Highlights May 23, 2022
[ccpw id="20060"]
  • News
  • Stories
  • Market Analysis
  • Learn
  • Crypto Prices
  • Contact Us
Search
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • CBDC
    • Crypto Exchange News
    • Cryptocurrencies
    • DeFi News
    • Ethereum News
    • Hacks and Scams
    • Litecoin News
    • Metaverse News
    • NFT News
    • Press Release
    • Ripples News
    • Sponsored Post
    • Web3 News
  • Stories
    • Interviews
  • Market Analysis
  • Learn
    • Bitcoin
    • Blockchain
    • Crypto Guide
    • Cryptocurrency Exchange
    • DeFi
    • Ethereum
    • Metaverse
    • NFTs
    • Trading
    • Web3
    • Quizzes
  • Crypto Prices
  • Contact Us

Trending →

Metaplanet to Raise $5.4B for Bold Bitcoin Buy

By Ezinne Ukaegbu 1 week ago

Shiba Inu Price Risks 22% Drop as Burn, TVL Fall

By Ezinne Ukaegbu 2 weeks ago

Crypto ETPs Explode: $286M Inflows as Ether Dominates Market

By Ezinne Ukaegbu 2 weeks ago

Deflationary Tokenomics vs. Hype: What Really Makes Pepe Hunt Different

By Rita Umukoro 2 weeks ago

WonderChain Ignites Web3: 3 Bold Travel Trends

By Ezinne Ukaegbu 3 weeks ago
Follow US
© Coins Creed. All Rights Reserved.

Home » Crypto Users Surge Over 580M Globally in 2023 – Crypto.com

News

Crypto Users Surge Over 580M Globally in 2023 – Crypto.com

Joy Dahunsi
Last updated: January 22, 2024 9:55 am
By Joy Dahunsi
Share
3 Min Read
SHARE

A crypto.com exchange report showed that at the end of 2023, more than half a billion individuals, approximately over 580M, owned cryptocurrencies.

Crypto Users Surge Over 580M Globally in 2023 - Crypto.com
Crypto Users Surge Over 580M Globally in 2023 – Crypto.com

According to the organization’s estimation, the worldwide population utilizing cryptocurrencies escalated by 34% in 2023, from 432 million to 580 million individuals.

Upon further examination of the data, Crypto.com discovered that Ether users increased from 89 million to 124 million by the end of the year. In contrast, Bitcoin users rose from 222 million to 296 million.

The on-chain market sizing estimates provided by Crypto.com tally the number of global cryptocurrency owners by combining on-chain data with a combination of parameters using the company’s proprietary methodology.

image 98 - Coinscreed Latest Bitcoin and Crypto Updates
An estimate reflecting the steady growth of cryptocurrency owners through 2023. Source: Crypto.com

The report highlights that the 34% surge in the worldwide cryptocurrency user population occurred during an extended period of adverse market conditions.

“Despite macro headwinds, including additional monetary tightening by Western central banks to contain inflation, protracted kinetic conflict in Europe and a new one in the Middle East, and longer-term consequences of the pandemic,” a portion of the report states, “Crypto adoption in 2023 reached new milestones.”

According to the document, the surge in network activity and subsequent appreciation of ETH were both influenced by Ethereum’s Shanghai upgrade.

In the interim, the introduction of Bitcoin ordinals and BRC-20 tokens in 2023, which introduced non-fungible token functionality to the blockchain, contributed to the substantial demand for Bitcoin block space.

image 99 - Coinscreed Latest Bitcoin and Crypto Updates
Bitcoin adoption picked up in Q4 of 2023, which played a role in BTC’s price appreciation above $40,000. Source: Crypto.com

Increasing speculation regarding the eventual approval of multiple Bitcoin exchange-traded fund applications in the United States contributed to the rise in Bitcoin purchases and wallets in 2023. Consequently, the report notes that BTC adoption will soar in the fourth quarter of 2023.

Its on-chain data extraction incorporates information from twenty-three cryptocurrency exchanges. Additionally, the report highlights that 42% of cryptocurrency users do not hold any BTC or ETH in their portfolios, whereas 40% of Bitcoin owners also possess ETH.

According to a December 2023 report by Bitfinex, the estimated number of worldwide cryptocurrency users will reach 950 million by the conclusion of 2024.

TAGGED:#CryptocurrenciesCrypto usersCrypto.com
Share This Article
Facebook Twitter Copy Link

You Might Also Like ↷

Binance starts anti-scam campaign after Hong Kong pilot run

Binance starts anti-scam campaign after Hong Kong pilot run

March 9, 2023
CME Group Set to Introduce ETH to BTC Ratio Future

CME Group Set to Introduce ETH to BTC Ratio Future

June 30, 2023
BIS Launches Project Agorá to Explore Tokenization

BIS Launches Project Agorá to Explore Tokenization

April 3, 2024
Bitzlato Halts Bitcoin Withdrawals

Bitzlato Halts Bitcoin Withdrawals

December 27, 2023
Coinscreed
Stay tuned for a blend of captivating content that not only informs but also inspires you to navigate the ever-evolving landscape of technology, marketing, and market trends!
Coinscreed
FacebookLike
TwitterFollow
InstagramFollow

All Rights Reserved. Coinscreed 2024.

adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist