Global Crypto Adoption Sees 13% Growth in 2024, Driven by Bitcoin and Ethereum

Global crypto adoption grew by 13% in 2024, with Bitcoin and Ethereum adoption rising by 13.1% and 13.6%, respectively. This growth is measured by ownership of crypto assets, with the number of owners increasing from 583 million in January 2024 to 659 million by December 2024.

Bitcoin and Ethereum Ownership Expansion

Bitcoin ownership expanded at the rate of 13.1%, reaching 337 million owners, which accounted for 51.2% of all global crypto holders. Ethereum grew by 13.6%, bringing the total number of ETH owners to 142 million, representing 21.7% of global crypto ownership.

A potential additional 300,000 to 1.2 million people may have gained exposure to Bitcoin through U.S. spot exchange-traded funds, though these figures were not included in the direct ownership count.

Key Factors Driving Adoption

Institutional interest and pro-crypto policies introduced by U.S. President Donald Trump during the election were key factors in Bitcoin’s adoption. As for Ethereum, its growth was largely driven by the rallies of Ethereum Layer-2 networks following the Dencun upgrade as well as the launch of spot Ethereum ETFs.

Crypto Adoption Outpaces Mobile Phones and Internet

A recent study showed that the rate of crypto adoption outpaced mobile phone adoption by 43% and internet adoption by 20%. According to the study, it took only 12 years for crypto adoption to reach 300 million users, while mobile phones reached the same milestone in 21 years and the internet did so in 15 years.

Crypto adoption has outpaced both mobile phones and the internet, achieving 300 million users in just 12 years compared to 15 years for the internet and 21 years for mobile phones.

Country-wise Crypto Adoption

A recent report analyzed adoption by country, tracking cryptocurrency inflows through exchanges, DeFi platforms, and payment services, using on-chain transaction data and web traffic patterns. The data was adjusted based on GDP per capita, ranking countries by adjusted on-chain transaction volume.

India, Indonesia, Nigeria, the United States, and Vietnam emerged as the top five countries leading crypto adoption in 2024. Kenya experienced the most significant growth, climbing from 32nd place in 2023 to 17th in 2024, with its crypto transaction volume doubling year-over-year.

Tips for crypto investors:

  • Stay informed about market trends and regulatory changes.
  • Diversify your portfolio to minimize risk.
  • Consider investing in emerging markets with high growth potential.

For more news and updates on the crypto market, visit Global Crypto News.

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