Cryptocurrency adoption grew by 13% in 2024, according to the annual “Crypto Market Sizing Report” issued by Crypto.com.
The report states that global crypto adoption, measured by ownership of digital assets, grew by 13% in 2024 — from 583 million owners at the start of the year to 659 million by Dec. 31.
Adoption of the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), rose by 13.1% and 13.6% respectively.
Bitcoin ownership reached 337 million owners, accounting for 51% of all global crypto holders.
The total number of Ethereum owners reached 142 million last year, representing 21% of global crypto ownership.
Crypto.com says in its report that an additional 1.2 million people may have gained exposure to Bitcoin through U.S. spot exchange-traded funds (ETFs) that were approved in the U.S. in 2024.
Ethereum’s growth was largely driven by interest in that crypto’s Layer-2 network and Dencun upgrade, as well as the launch of spot Ethereum ETFs last summer.
A separate study by BlackRock (BLK) recently showed that the rate of crypto adoption outpaced mobile phone adoption by 43% and internet adoption by 20% during 2024.
According to BlackRock, it took only 12 years for crypto adoption to reach 300 million users, while mobile phones reached the same milestone over a 21-year period.
Both Crypto.com and BlackRock attribute the growth of crypto to demographic trends, particularly the openness of younger generations to digital coins and tokens.
India, Indonesia, Nigeria, the U.S., and Vietnam were the top five countries leading crypto adoption in 2024.
Bitcoin is currently trading at $97,385 U.S. per digital token, having risen 86% over the past 12 months.
