Cryptocurrency Statistics Report 2024

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In 2024, the cryptocurrency market underwent significant transformations. The U.S. Securities and Exchange Commission (SEC) cracked down on major players, leading to exits by giants like Binance, FTX, and Luna. Ripple faced a prolonged court battle. Amidst this chaos, Bitcoin surged by 157.51%, reaching $42,000. This Cryptocurrency Statistics Report for 2024 captures the highs and lows, showcasing the dynamic shifts in the crypto landscape.

Top Cryptocurrency Statistics 2024

After a long crypto winter, the ball seems to be in the court for digital assets. Stock market has been volatile lately with an unforgiving inflation rate, many investors are moving towards cryptocurrency. Before you jump into such action, here are some cryptocurrency statistics for 2024:

  • Cryptocurrency market capitalization is estimated around $1.69 trillion in December 2023 (by CoinMarketCap)
  • 685 cryptocurrency exchanges are registered for trading with over 2 million tokens.
  • India is the leading country with most cryptocurrency holders.
  • The global blockchain market is estimated around $23.3 billion.
  • Over 200,000 people actively work in cryptocurrency or blockchain with 100,000 open positions in 2023. (by Coincub)
  • $112 billion worth of cryptocurrency is traded every day.
  • Verified cryptocurrency users has reached a maximum of $516 million by December 2023 (according to Statista)
  • Since 2012, Bitcoin prices have increased by 69616374.86% with a maximum value of $67,549.
  • Over 147 countries accept cryptocurrency payments or offer cryptocurrency ATM services. (by Statista)

Cryptocurrency Growth Statistics 2024

Cryptocurrency acceptance has improved at a rate of 15% CAGR and it is much easier for us to buy, trade and most importantly use cryptocurrency for everyday living. Not only has more countries started accepting Bitcoin but also use it as a regular currency. Below are some of the growth statistics that was witnessed in 2023:

  • AI hype increased tremendously in 2023 leading to AI-related crypto tokens which presently hold a market cap of $28 billion. ( Research)
  • Memecoins also became a thing once again with the launch of Pepecoin but Dogecoin still holds the crown.
  • Tether and USD coin managed to capture 85.4% capitalization in the stable coin domain.
  • 80,000 users are reported to actively use blockchain-based social media platforms.
  • Cryptocurrency firms managed to raise over $1.2 billion from funding rounds.
  • Compared to 2022, cryptocurrency losses have dropped by 51% with a total of $3.7 billion.
  • Cryptocurrency revenue is projected to grow 11.98% and touch $40.7 billion in 2023. (by Statista)
  • Blockchain domain is expected to reach $470 billion by 2030. (from Grand View Research)

Experts believe that cryptocurrency is only going to get popular and the graph below can give us a clear idea why.

Cryptocurrency Statistics by Country

Cryptocurrency adoption is on a quick rate and for good reasons. Due to a clash with inflation rates, various countries are choosing cryptocurrencies over other assets. Below we have prepared a table with top countries with cryptocurrency owners. All data mentioned below are according to research (TripleA) till December 2023.

CountryIndex RankingPopulationCrypto OwnershipOwnership Percentage
United States2339,996,56348,820,97214.36%
South Africa1260,414,4956,041,45010.15%
United Kingdom1967,736,8023,740,2805.52%
United Arab Emirates249,516,8712,633,00127.67%

Cryptocurrency acceptance index has proven to be influenced by the income bracket of users. Below, you can find a detailed chart ranging between Q3 2020 and Q2 2023:

Regardless of all the stepping stones towards crypto acceptance, transactional volumes are still at large in the U.S. This chart includes all types of transactions in all domains under the cryptocurrency umbrella.

Environmental Impact from Cryptocurrency

According to a report from The White House, cryptocurrency assets consume an average of 180 billion kilowatt-hours of electricity every year. On a global scale, it is 0.9% of electricity usage coming only from digital assets in the U.S since it contains one-third of global crypto assets.

Within July 2021 and January 2022, a 67% spike in energy consumption was reported and this increase is a worrying factor. Even though Ethereum took significant steps to reduce their carbon footprint, they are still responsible for 20% crypto-related electricity usage while Bitcoin has 60% share.

To reduce cryptocurrency impacts, proof-of-stake (PoS) mechanism is encouraged as it does not require excess energy. Users can use collateral as a stake for a transaction, and the validator is rewarded with fees.

There are various other mechanisms in development like proof-of-burn and proof-of-elapsed time. However, in the present day, our best shot at reducing energy consumption is through utilizing proof-of-work procedures.

Cryptocurrency Frauds and Losses Statistics

In Q1 2023, global crypto scams amounted to $9 million, showcasing the challenges of tracking fraud in the decentralized space. Despite security enhancements, Q2 saw a spike to $239 million in losses, bringing the total for 2023 to a significant $360 million by the end of the year. Tracking and reporting remain complex in the crypto world, contributing to the difficulty in combating fraudulent activities.

Frequently Asked Questions

Is Cryptocurrency the Future?

Enthusiasts and experts alike believe that cryptocurrency can create a strong presence in investment and global payment domains. The overall cryptocurrency market is estimated to touch $5 billion in the coming future.

What are the top Cryptocurrency platforms?

Evolution in cryptocurrency is ever growing and platforms such as Binance, Coinbase, Kraken, and KuCoin are presently the preferred ones.

How many Cryptocurrencies are there?

Research shows that there are over 23,000 cryptocurrencies as of early 2024. However, not all are available on cryptocurrency exchanges as many of them are in their Mainnet stage.

What is Cryptocurrency mining?

Cryptocurrency mining is centered around validating information within a block. Through a cryptographic solution, this information is extracted and the ones responsible for it are called cryptocurrency miners.

How to buy Cryptocurrency?

You can buy crypto tokens from any cryptocurrency exchange by registering and depositing money in a digital wallet.

What are the top Cryptocurrency wallets?

Cryptocurrency wallets are a crucial part for any Web3 activities and Coinbase wallet, MetaMask, Trust Wallet, and KeepKey are some of the most trustworthy names.

About Andrew

Dr. Andrew has dedicated her career to advancing the state of the art in conversational AI and language models. His groundbreaking research has led to significant improvements in the understanding and generation of human-like responses, enabling more effective and engaging interactions between humans and machines.

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