According to research recently conducted by Crypto.com, cryptocurrency owners, specifically holders, are growing by a lot.
It will have around 580 million at the end of 2023, with a growth of 34%, compared to 432 million in 2022.
Bitcoin holders alone grew by 33%, in line with the general trend, to reach approximately 296 million. 51% hold Bitcoin in their wallet.
According to the report, the key role in this growth is the ETF narrative that accompanied us throughout 2023 and also in 2024, followed by the Ordinals* trend and the general interest of tradFi in blockchain technology, with positive repercussions also and obviously on the sector of altcoins.
*Ordinals refer to a type of NFT that are minted on the Bitcoin blockchain, similar to traditional ones but associated with a single satoshi, the smallest unit of Bitcoin.
As for Ethereum, the growth was more significant than Bitcoin, recording a +39% on the previous year in terms of adoption, with 124 million owners attracted into the ecosystem's prospects thanks to new services including liquid staking, later as the network transitions to Proof of Stake (PoS).
Wallets containing ETH also grew by 33.7% compared to 2022.
The report predicts that adoption growth could grow more rapidly, not only with new retail investors but also traditional financial institutions bringing a more mainstream audience to the market.
Other interesting details emerging from the report:
- the growth of cryptocurrency holders is particularly strong in Asia and Latin America;
- millenials and generation Z are the demographic group most likely to own cryptocurrencies;
- interest in cryptocurrencies has also been fueled by inflation and the volatility of traditional financial markets.
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