Ethereum

Bitcoin

Million

<ul>
 <li>From 432M in 2022 to 580M in 2023, the number of crypto users worldwide jumped 34%.</li>
 <li>The research shows that 42% of cryptocurrency users do not own any Bitcoin or Ethereum.</li>
</ul>
A market sizing analysis from crypto exchange Crypto.com states that by the end of 2023, more than half a billion individuals have become users or owners of cryptocurrencies. From 432 million in 2022 to 580 million in 2023, the number of crypto users worldwide jumped 34%, according to the company’s estimations.
A closer look at the numbers shows that at the end of the year, 296 million individuals owned Bitcoin, and 89 million users owned Ether, according to Crypto.com.
<h3 class="wp-block-heading" id="h-significant-growth">Significant Growth</h3>
The unique approach used by <a href="http://crypto.com" target="_blank" rel="noopener noreferrer nofollow">Crypto.com</a> in its on-chain market size estimations combines on-chain data with a mix of characteristics to determine the total number of cryptocurrency owners worldwide. The research points out that the worldwide crypto user base grew by 34% during a period of persistently negative market circumstances.
The report goes on to say that the Shanghai upgrade to <a href="https://thenewscrypto.com/ethereum-foundation-offloads-millions-in-eth-amid-market-volatility/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> contributed to the rise in network activity and the price of ETH that followed. The introduction of BRC-20 tokens and Bitcoin Ordinals, which introduced <a href="https://www.kaspersky.com/resource-center/definitions/what-is-an-nft#:~:text=NFT%20meaning%20and%20definition,or%20exchanged%20for%20one%20another." target="_blank" rel="noopener noreferrer nofollow">NFT</a> functionality to the Bitcoin network in 2023, also contributed to the high demand for Bitcoin block space.
In 2023, there was a surge in Bitcoin purchases and wallets due to the increasing speculation about the potential acceptance of several Bitcoin exchange-traded fund (ETF) applications in the US. Q4 2023 saw a meteoric rise in Bitcoin acceptance due to this, according to the report.
In its on-chain data extraction, Crypto.com incorporates information from 23 different cryptocurrency exchanges. In addition, the research shows that 42% of cryptocurrency users do not own any <a href="https://thenewscrypto.com/bitcoin-falls-below-41000-level-as-bears-continue-domination/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> or Ethereum, and that 40% of Bitcoin owners also possess ETH.

Study Reveals Crypto Users Globally Crossed 500 Million in 2023

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