The Number of Global Crypto Owners Surged by 34% to 580 Million in 2023
A recent study conducted by cryptocurrency exchange Crypto.com revealed that the number of global cryptocurrency owners increased by 34% to reach 580 million by the end of 2023. The research also found that the number of Bitcoin holders grew by 33% to 296 million, making up 51% of all crypto holders.
The researchers attributed the growth in Bitcoin adoption to the development of bitcoin exchange-traded funds and the introduction of the Bitcoin Ordinals protocol, which allowed for the creation of non-fungible tokens and fungible tokens on the Bitcoin network. Additionally, strong interest from institutional investors contributed to this increase.
Ethereum Ownership Saw a 39% Increase
According to the study, Ethereum ownership experienced a significant growth of 39%, reaching 124 million owners by the end of the year. This accounted for 21% of the global crypto owner base. The researchers pointed to liquid staking as one of the main drivers behind Ethereum’s adoption growth, following Ethereum’s Shanghai Upgrade.
The Block’s Data Dashboard reported a 33.7% rise in the number of new unique addresses on Ethereum throughout 2023.
Hot Take: The Rising Popularity of Cryptocurrencies
The global cryptocurrency market witnessed substantial growth in 2023, with an increasing number of individuals joining the ranks of crypto owners. Bitcoin and Ethereum emerged as frontrunners in terms of adoption and popularity, attracting both retail and institutional investors. The development of innovative technologies such as bitcoin exchange-traded funds and protocols like Bitcoin Ordinals contributed to Bitcoin’s surge in adoption. Similarly, Ethereum’s liquid staking feature played a significant role in driving its adoption growth.
The future of cryptocurrencies looks promising, as more people recognize their potential and seek to participate in this digital revolution.
By
By
By
By
By