Crypto.com has unveiled its annual Crypto Market Sizing Report, shedding light on the surge in global cryptocurrency ownership by a staggering 34% throughout 2023. The data showcased a notable increase from 432 million crypto owners in January 2023 to a substantial 580 million by December 2023.
Remarkably, this growth persisted despite several macroeconomic challenges, including Western central banks' efforts to tighten monetary policies in response to inflation, conflicts in Europe and the Middle East, and the enduring impacts of the pandemic. The initial half of 2023 witnessed sustainable growth, notably propelled by the success of the eagerly awaited Ethereum (ETH) Shanghai Upgrade. The latter half of the year saw robust expansion for both Bitcoin (BTC), marked by Bitcoin ETF filings and anticipation in the U.S. market. BTC ownership experienced a 33% surge, climbing from 222 million in January to 296 million in December, constituting 51% of global crypto owners. Simultaneously, ETH ownership soared by 39%, escalating from 89 million in January to 124 million in December, claiming 21% of global crypto owners.
Kris Marszalek, CEO of Crypto.com, commented on the industry's resilience, stating, “This past year is another important foundational year for the entire crypto community. Once again, despite headwinds and challenges, the industry proved resilient and is well-positioned for mass adoption. At Crypto.com, our focus on responsible innovation continues to effectively drive us forward.”
The findings from Crypto.com's Crypto Market Report rely on a combination of on-chain data and blended parameters to estimate the number of global cryptocurrency owners. The comprehensive Crypto Market Sizing report is available on Crypto.com's official website. For additional research and analysis from Crypto.com, interested readers can visit Crypto.com/Research.