Global Cryptocurrency Ownership in 2023
In 2023, the global cryptocurrency community experienced a surge in ownership, with the number of cryptocurrency owners increasing by 34% from January to December, reaching an impressive 580 million, as shown in Crypto.com’s Crypto Sizing Report. This is a crucial insight for the finance market.
What’s Driving the Surge?
Ether (ETH) experienced a significant 39% surge in ownership, rising from 89 million to 124 million due to the introduction of liquid staking post Ethereum’s Shanghai Upgrade. This upgrade allowed staked ETH to be withdrawn after the transition to the Proof of Stake (PoS) blockchain, laying a strong foundation for Ethereum’s growth.
Exceptional Monthly Growth and Key Influencers
Standout months for both BTC and ETH were April and May, with monthly growth rates of 5.1% and 6.7%, respectively. Bitcoin’s surge can be attributed to the momentum of Bitcoin Ordinals, introducing the ability to mint NFTs on the Bitcoin network.
Hot Take
This surge in crypto ownership resulted in an impressive 580 million users by the end of 2023. As digital assets gain wider acceptance, the cryptocurrency ecosystem’s growing influence and adaptability become increasingly evident. Moving forward, the cryptocurrency industry is poised for further growth, innovation, and undoubtedly a lasting impact.
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