How many people use use cryptocurrencies?
How many people really use cryptocurrencies? Several analysts recently addressed this question. Estimates speak of more than half a billion people. Surprisingly, most of the growth is not happening in Bitcoin.
How many people use cryptocurrencies? The number really is that high
How many people actually use cryptocurrencies? New data from multiple organizations now provides insight. The crypto exchange Crypto.com recently published a report estimating the number of users worldwide at 580 million people.
In 2023, the number of crypto users will have increased by 34 percent from 432 million people. The numbers from Ethereum (+39 percent) and Bitcoin (+33 percent) are particularly positive.
Crypto.com also ranks market leader Bitcoin as the most popular blockchain. Accordingly, 296 million people were already using Bitcoin in December. At the same time, Ethereum’s numbers are significantly lower at 124 million people.
Kris Marszalek, CEO of Crypto.com, generally thinks the numbers are impressive. 2023 proved to be a difficult year for the crypto market. The fact that such growth was nevertheless successful proves that crypto is increasingly finding its way into the mainstream of society.
Ethereum actually the fastest growing blockchain?
Flipside Crypto recently collected similar data. However, the data aggregator comes to a different conclusion. The reason for the different information is probably the approach used in the evaluation.
Flipside analyzed some of the largest blockchains for their active user numbers. The evaluation only includes blockchain addresses that have become active through transactions. Simply creating a wallet is not enough.
In reality, Ethereum was the fastest-growing blockchain in 2023. Flipside added 15.4 million new users over the year. There are also another 15.2 million users on the Polygon (MATIC) blockchain, which is a scaling solution for ETH.
This compares to a comparatively low 10.7 million new Bitcoin users. Solana experienced the fourth largest growth with 5.6 million new users.
The user behavior on blockchains that are compatible with Ethereum’s EVM programming level is also striking. Once users decide to use one of these blockchains, they remain loyal to it in the long term. 87 percent of users stick with the first EVM-compatible blockchain they use.
Crypto community grows by millions of people every month
The growth of the crypto community is particularly impressive if you take a look at the monthly statistics from Flipside. Every month, several million people come into the world of digital currencies.
2023 experienced its peak values in May and December. While more than six million people joined the crypto world in December, there were even seven million people in May.
The most popular among dApps are decentralized crypto exchanges (DEX). According to Flipside, most of the so-called super users are concentrated there . The data aggregator uses this to describe people who made more than 100 transactions in the past year.
