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Key Takeaways
- Global cryptocurrency owners increased by 6.4% in the first half of 2024, rising from 580 million in December 2023 to 617 million by June 2024.
- Based on our on–chain estimates:
- Bitcoin (BTC) owners grew by 5.9%, from 296 million in December 2023 to 314 million by June 2024, accounting for 51% of global owners.
- Ethereum (ETH) owners grew by 9.7%, from 124 million in December 2023 to 136 million by June 2024, accounting for 22% of global owners.
- There could be approximately 388,000 to 1.6 million people invested in BTC via US spot ETFs in addition to the above estimates.
- Based on our on–chain estimates:
- The main catalyst behind BTC’s adoption growth was the launch of US spot Bitcoin exchange-traded funds (ETFs) and Bitcoin’s fourth halving.
- ETH’s adoption growth was mainly driven by rallies of Ethereum Layer-2 (L2) networks after the Dencun upgrade, which significantly reduced the transaction fees on L2s and boosted the overall scalability of Ethereum.
Read the full report: Crypto Market Sizing H1 2024
Authors
Crypto.com Research and Insights team
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