Crunching the Numbers: Key Cryptocurrency Statistics You Need to Know

Intro

A little over a decade ago cryptocurrency was barely heard of. However, the cryptocurrency industry has grown bigger than many imagined and is used in more ways than just for investing. People are still trying to make fortunes by trading it, but it’s also becoming a widely accepted payment method.

Whether you’re keen to get your cryptocurrency investment journey underway or want to know more about the industry as a whole, the following statistics for 2024 will stand you in good stead.

Source: Pixabay

Top Cryptocurrency Statistics

Let’s get the ball rolling with some general cryptocurrency statistics.

• As of August 2023, crypto’s worldwide market capitalization was estimated to be $US1.09 trillion.
• As of February 2024, almost half of the total value of the crypto market is made up of Bitcoin.
• There were over 9,000 cryptocurrencies as of 2023.
• Between 2012 and 2022, the price of Bitcoin increased by more than 540,000%.
• Every 3 seconds, someone posts on social media about Bitcoin.
• $22 invested in Bitcoin in 2012 would be worth $1 million today.
• Mining cryptocurrency requires more electricity than the entire country of Argentina making it very bad for the environment.
• Bitcoin mining uses up enough electricity to power for than 10 million homes for a year, which is raising concerns about its sustainability.
• Cryptocurrencies generally fall under four categories: equity tokens, utility tokens, intrinsic tokens, or asset-backed tokens.
• In February 2021, one Ether was worth $1500.87.
• The first time anyone spent Bitcoin in real life they used it to purchase two pizzas for a cost of 10,000 Btc.

Cryptocurrency Market Size

Delve into the latest statistics unveiling the scale of the crypto landscape.

• The top 10 cryptocurrencies make up 88% of the total market value.
• If cryptocurrency was a country, it would be in the top 30 energy consumers in the world.
• Globally, 76 million people use blockchain wallets for storing and encrypting their crypto. For those looking to diversify their portfolio, platforms make it simple and secure to buy Litecoin, expanding investment opportunities.
• There was a 900% increase in the global crypto market value between March 2020 and February 2021.
• Europe led the cryptocurrency industry in 2019, recording around $400 million in transactions.
• There are more than 380 crypto exchanges.
• The complete supply of Bitcoin is 21 million.
• Since February 2021, the price of Bitcoin has grown by 66%.
• In 2020, more than 1 million Ethereum transactions were performed daily.
• As of 2021, around 900 new bitcoins are mined and put into the market daily.

Cryptocurrency Growth

There has been a massive increase in interest since the introduction of cryptocurrencies. Crafting a solid business plan template tailored to the volatile nature of cryptocurrencies is essential for navigating this evolving landscape. Let’s crunch some numbers for the industry’s growth both past and present, and in the future.

• Predictions are that by 2030, the worldwide crypto market will grow by 12.5% in compound annual growth rate.
• More than 2,300 new cryptocurrencies were launched in 2020.
• The value of the global crypto market is expected to reach around $5,190.62 million by 2026.
• The blockchain technology market is expected to reach $39.7 billion by 2025.
• By 2026, the global blockchain technology market is expected to grow with a CAGR of 68.4%.

Cryptocurrency Users

Source: Statista

In this section, we break down the demographics and behaviors of the dynamic crypto community.

• 18,000 businesses already accept cryptocurrency payments. You can pay with Bitcoin even for your hosting.
• There are over 300+ million users worldwide.
• Users have access to around 15,000 Bitcoin ATMs globally.
• Tesla was the first Fortune 500 company to announce that they’d acquire Bitcoin.
• 21% of Bitcoin investments come from women and 79% come from men.
• Surveys in the US have revealed that white respondents have a higher awareness in general of Bitcoin compared with Hispanic and Black individuals.
• 82% of crypto users have a bachelor’s degree or higher.
• 36% of crypto users have an annual income of $100k or more.
• The average Bitcoin trader holds roughly around 0.01 BTC.
• The user index for crypto in 2021 showed 97% confidence.

Cryptocurrency Adoption

Time to dissect key statistics that shed light on the accelerating trends and shifts in the world of digital currencies.

• Approximately $112 billion in cryptocurrency trades take place daily.
• 76 million people around the world use blockchain wallets to store and encrypt their crypto.
• Two out of every three millennials believe Bitcoin to be a safer investment than precious metals such as gold.
• In terms of Bitcoin investments, 79% come from men while only 21% come from women.
• In Kentucky, legislation has been passed to give crypto miners energy and tax breaks.
• In 2020, 12 countries specifically banned people from owning, investing in, or making crypto transactions.
• In Ecuador and Indonesia, business owners are banned from accepting cryptocurrency as a form of payment.
• Blockfi and Bitpay offered decentralized financing of $232 million collectively.
• By the end of 2030, around $27 billion will be saved by banks through blockchain adoption.
• As of 2020, the top South American country that adopted the use of cryptocurrency was Peru, with an adoption percentage of 16%.

Cryptocurrency by Country

Cryptocurrency usage is not the same across the world. In some countries, it’s more popular than in others.

• In 2022, estimates indicated that 25.6% of people who owned cryptocurrency were in Australia.
• The leading cryptocurrency in Australia is Bitcoin.
• In 2023, a study by the Australian Securities Exchange found that 29% of investors in the country were interested in buying cryptocurrency within 12 months.
• In the UK, a study conducted by Forbes Advisor found that 18-34-year-olds are twice as likely to own some kind of cryptocurrency than someone aged 35-54.
• Bitcoin is the most well-known cryptocurrency in the UK, with Ethereum and Dogecoin coming in at second and third place.
• India has more than 100 million cryptocurrency holders, which is more than any other country.
• 6% of Americans own crypto.
• 32% of people in Nigeria say they own or have used crypto.
• 30 countries have issued guidelines on how cryptocurrency should be classified on your taxes.

Cryptocurrency Security

In the cryptocurrency world, security is paramount. The following statistics will help you understand cybersecurity and the measures taken to safeguard digital assets and improve internet security.

• There was an increase in incidents of cryptocurrency theft in 2020 compared to 2019.
• In 2020, almost $300 million of cryptocurrency was stolen during a hack, 80% of which has been recovered.
• Cryptojacking is one of the most significant cybersecurity threats.
• Almost $2 billion was the cost of crypto-related crime in 2020.
• It’s been estimated that between 50% and 80% of cryptocurrencies were launched to commit fraud.
• Exit scams and defrauding are very common in the crypto world.
• Fraud is the most common crime related to cryptocurrency.
• $3.5 billion in cryptocurrency sent to digital wallets in 2020 was later marked as being involved in criminal activity.
• By March 2020, it was recorded that there were 667 million new crypto-malware.

Conclusion

So, there you have it. An interesting collection of cryptocurrency statistics for 2024. The more you can learn about the industry, the easier it will be to make trades or use this digital currency effectively.

Cryptocurrency is expected to increase its rates of adoption, however, more industry regulations surrounding the industry are also predicted for the coming years.