The Number Of Crypto Holders Increase 34% In 2023

Key Points:

• A Crypto.com report notes a 34% spike in global crypto holders, surpassing 500 million by 2023-end.
• Ethereum holders increased to 124 million, and Bitcoin holders to 296 million.

As of the close of 2023, the global crypto holders base surpassed 500 million, marking a remarkable 34% increase from 432 million to 580 million, according to a recent report by Crypto.com.

500 Million Crypto Holders Propel Market Growth in 2023

The report, employing a distinctive methodology, combined on-chain data with various parameters to gauge the number of crypto holders worldwide.

Despite challenging market conditions, including a prolonged bearish trend, the crypto market achieved significant milestones in 2023. Notably, Ethereum holders increased from 89 million to 124 million, while Bitcoin holders saw a rise from 222 million to 296 million.

The report attributes Ethereum’s network activity surge and subsequent value rally to its Shanghai upgrade. Additionally, Bitcoin witnessed heightened demand for block space due to the integration of non-fungible token functionality through the introduction of BRC-20 tokens and Bitcoin ordinals in 2023.

The surge in crypto adoption occurred amid various macroeconomic challenges, such as continued monetary tightening by Western central banks, ongoing conflicts in Europe and the Middle East, and the enduring effects of the pandemic.

In a related development, the latest AvengerDAO report by security firms CertiK, Hashdit, Ancilia, and Salus revealed a notable shift in the BNB Chain’s dynamics. The amount of crypto lost on the BNB Chain experienced an 85% drop in 2023, breaking a three-year uptrend. This positive development underscores improving security measures within the crypto ecosystem.

The comprehensive Crypto.com report offers insights into the dynamic landscape of the crypto market, showcasing resilience and growth even in the face of global challenges.