Global Crypto Ownership Surges by 34% in 2023, Reaching 580 Million Users
Cryptocurrency Ownership Surges 34% to 580 Million Globally
In 2023, the global cryptocurrency community experienced an extraordinary surge in ownership, with the number of cryptocurrency owners skyrocketing by an impressive 34%. By the end of December, the total number of cryptocurrency owners reached a staggering 580 million, according to the recent Crypto Sizing Report by Crypto.com. This data is highly significant for the finance market.
Ether (ETH), the second-largest cryptocurrency, also witnessed a remarkable surge in ownership during this period. ETH ownership surged by 39%, soaring from 89 million to an impressive 124 million. The driving force behind this growth was the introduction of liquid staking following Ethereum’s Shanghai Upgrade. Liquid staking allowed staked ETH to be withdrawn after the transition to the Proof of Stake (PoS) blockchain, providing a strong foundation for Ethereum’s expansion.
April and May were standout months for both Bitcoin (BTC) and Ether (ETH), with exceptional monthly growth rates of 5.1% and 6.7% respectively. Bitcoin’s surge during this period can be attributed to the momentum of Bitcoin Ordinals, which introduced the ability to mint NFTs on the Bitcoin network. Simultaneously, the emergence of BRC-20 tokens and increased interest from institutional investors propelled Bitcoin to unprecedented levels in the fourth quarter.
The culmination of 2023 saw both BTC and ETH adoption reach unprecedented levels, accompanied by growing excitement about developments in the Bitcoin and Ether ETFs space. During this period, BTC and ETH prices experienced significant surges, briefly reaching levels of US$44,000 and US$2,400 respectively.
To wrap up, the remarkable surge in cryptocurrency 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.