Connect with us
Active Currencies 12960
Market Cap $2,401,756,091,755.70
Bitcoin Share 50.33%
24h Market Cap Change $-0.63

580M strong – Here’s where Bitcoin, Ethereum are leading the way

2min Read

Crypto is immensely popular around the world. And the numbers say the same thing…

Bitcoin Ethereum crypto-adoption

Share this article



  • Global crypto-users rose by 34%, hitting 580 million, with Bitcoin and Ethereum users growing massively
  • This is a sign of growing mainstream crypto-acceptance and resilience amidst market challenges

As the curtain fell on 2023, the world of crypto witnessed a significant surge in user adoption. According to a report by Crypto.com, the number of cryptocurrency users or holders globally soared by 34% in 2023. It climbed to an impressive 580 million, up from 432 million towards the start of the year.

This growth trajectory highlights the increasing mainstream acceptance of cryptocurrencies as both a viable investment and a revolutionary financial technology. Additionally, the report shed light on two of the leading cryptocurrencies – Ethereum (ETH) and Bitcoin (BTC)

Bitcoin and Ethereum’s recent price surge

Ethereum, known for its smart contract functionality, saw its holder base expand from 89 million to 124 million in 2023. This significant increase underscores Ethereum’s growing influence in the decentralized finance (DeFi) and non-fungible token (NFT) spaces.

Bitcoin, often referred to as digital gold, also saw a notable uptick in its user base. The number of Bitcoin holders climbed from 222 million to 296 million. This hike can be attributed to Bitcoin’s growing perception as a store of value and a hedge against traditional market volatility.

The surge in crypto-adoption is a testament to the sector’s resilience and potential, despite the various challenges and market fluctuations seen over the years. The increasing numbers reflect enhanced global awareness and understanding of digital assets, further propelled by advancements in blockchain technology and wider institutional acceptance.


Unveiling probable reasons behind the surge

The report also suggests that the diversification of the cryptocurrency market, with the introduction of various altcoins and digital assets, has played a crucial role in attracting a broader audience. Users are no longer confined to a limited choice of cryptos but can explore a myriad of options, each offering unique features and use cases.

Bitcoin

Statics on the total number of global crypto users – Image via Crypto.com

The growth in crypto-holders also aligns with the increasing number of platforms and services that support these digital assets. From trading platforms and wallets to payment services and lending platforms, the ecosystem supporting cryptocurrencies has expanded, making it more accessible for users worldwide.

Can we expect the BTC, ETH uptrend to continue in 2024?

The rise in crypto-adoption is not just a number; it represents a shift in the global financial paradigm. As we step into 2024, this trend is likely to continue, with more individuals and institutions recognizing the potential of digital currencies. 

The increasing numbers of Ethereum and Bitcoin holders signify a maturing market poised for further innovation and growth. The report painted a picture of a dynamic and evolving cryptocurrency landscape, one that is gradually becoming an integral part of the global financial system.


Share

Prakriti is a Content Writer at AMBCrypto. She describes herself as a passionately creative individual, with a dash of strategic prowess. With over 3.5 years of experience in the field of content writing and marketing, she is dedicated to churning out top-notch content in domains like Crypto, Web 3.0, AI and contributing to quench the thirst for technical knowledge of her readers.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.