Crypto Statistics [2024 Updated Trends and Facts Data] – The TechLead

Some years ago, very few knew much about crypto. It was just like a tale of the monkey shadow; because it was new, many feared getting on. But nowadays, things have changed. Digital assets have become popular. According to the latest estimates, global crypto ownership in 2023 was 4.2%, with more than 420 million crypto users.

People have realized that buying, selling, or holding virtual assets is lucrative, so they want to get in. But only a few know the basics upon which the industry operates before hopping on, and that’s a big risk.

Whether you have already invested or are still considering committing your money to crypto, gathering as much information as possible is advisable. With these vital crypto statistics, you can learn much about crypto as you become the next expert digital asset investor or trader. Let’s forge ahead.

Cryptocurrency Meaning in a Nutshell

Cryptocurrency is a virtual form of currency that uses cryptography for security. To further elaborate, the term comes from using encryption to verify transactions. This is a way of ensuring advanced coding for secure storage and transmission of data between wallets and public ledgers. Unlike traditional currencies, there is no central authority governing the virtual currency. They operate on a decentralized system to record transactions and create new units. Its payment system doesn’t rely on banks for transaction verification. 

It enables peer-to-peer transactions, allowing anyone to send and receive payments anywhere. Instead of physical money, cryptocurrency transactions exist as digital entries in an online database. Bitcoin is the first cryptocurrency ever known today, and given its performances in the long run, many people get drawn to it, as well as other similar digital currencies for trading and potential profits.

Detailed Review of Enlightening Crypto Statistics

1. The Top 4 Crypto Exchanges Record 63% Daily Trading Activities.

According to the ranking of crypto exchanges, the top firms provide more daily trading volumes. The top four exchanges are Binance, Coinbase, Kraken, and KuCoin. The cumulative trading volume of the top four exchanges represents about 63% of the total daily trading.

2. More Females Have No Knowledge of Bitcoin and Crypto.

Bitcoin and crypto awareness is less widespread among women. About 77% of women know about BTC, while 78% of their male counterparts are in the know.

3. Up to 67% of Millennials Regard Bitcoin as a Safe Asset.

The millennials accept Bitcoin as a more secure investment asset than most physical assets like gold.

4. The Average Cost for BTC Mining Amounts to $4.45 Billion Yearly.

Not only does Bitcoin mining negatively impact the environment, but it also cuts deep into miners’ pockets.

5. About 60% of Bitcoin’s Network Hash Rate Relies on Non-Renewable Energy.

Data revealed that most Bitcoin’s hash rate depends on non-renewable energy sources. Coal-based technology is a key drive.

6. Bitcoin Emission Could Trigger Over 2-Degree Rise in the Average Global Temperature.

The Bitcoin mining process impacts the global environment. The process releases emissions, which could cause a more than 2-degree jump in temperature worldwide.

7. Bitcoin’s Worth of About $3.5 Billion was Moved in 2020 to Accounts Related to Criminals Worldwide.

Criminals and bad actors have crept into cryptocurrency with huge engagements. They received transfers of Bitcoins worth over $3.5 billion across the world in 2020

8. Illegal Crypto Transactions Constitute 1.1% of the Overall Transactions in the Industry Every Year.

Considering the number of crypto transactions yearly, the figure will represent a large amount of money. However, jurisdictional crypto regulations could cut down the rate of illicit transactions.

9. In 2020, Bitcoin Transfers to Crime Syndicate In America Were Over $41 Million.

With less influence of third parties on cryptocurrency transactions, criminals quickly joined the train. More than $41 million worth of Bitcoin tokens were transferred to criminals in America three years ago.

10. About 0.5% of Bitcoin Transactions Yearly Are Connected to Illegal Activities.

Bitcoin is the first and most popular crypto token, attracting many users. This positions it as a top vulnerable asset for criminal activities. Though the statistical data may seem little, it has a significant impact based on the value of BTC every year.

11. Bitcoin Miners Produce 900 New BTC Coins Daily.

The technology behind the Bitcoin network enables the production of a new BTC block every 10 minutes. This means miners solve Bitcoin mathematical puzzles to mine a new coin within the timeframe. Moreover, the average number of BTC miners is 144 daily, with each miner bringing 6.25 coins into the blockchain. The mining process produces a total of 900 new Bitcoins every day.

12. Tether Hit a Daily Trade Volume of $109 Billion on February 22 to Become the Most Prominent Digital Asset.

Tether is the leading stablecoin in the crypto market. Recent crypto statistics showed that the token gather more attention due to its independence and stability amid market price fluctuations. The stablecoin has its price pegged at the US dollar. However, it has received some criticism from some people in the past. The New York General Attorney was among those skeptical about Tether’s stance in the market. He maintained that the token is below its stability claims and doesn’t have 100% backing from the US dollar.

While stating its defense, Tether didn’t waver on its stance as a stable asset. It acknowledged that it has only 74% of USD backing. With time, Tether (USDT) proved its stance in the markets, consistently recording the highest daily trade volumes. Surprisingly, USDT’s trade volume doubles that of Bitcoin, the primary crypto asset. According to 2021 crypto statistics, Tether emerged and took the first position as the most selling coin of the year. Bitcoin and Ethereum bagged the second and third positions, respectively.

13. Crypto Token Sales in 2020.

2020 saw slower crypto token sales versus past years. Instead of billions made like in the 2017 boom, token projects raised around $20 million in 2020. Reviews link the drop to Ponzi schemes scaring investors off. Reports also found that 80% of 2017’s projects were shady and fraudulent.

14. The Crypto Market’s $150 Billion Single-Day Drop.

Despite potential big profits, Cryptocrypto carries risks that trigger huge losses. On January 11, 2021, almost $150 billion vanished from the global crypto market cap within 24 hours. Bitcoin led the hit, dropping 10% to $34,200. Ethereum dove 15% below $1,000 per token.

15. Bitcoin Reaches $1 Trillion Market Cap.

In early 2021, Bitcoin’s value shot up to surpass a $1 trillion total market cap for the first time. The quarterly increase was around $400 billion – the highest growth since Bitcoin began in 2009. The last big quarterly leap was in Q1 2017 when Bitcoin’s market cap grew from $11.9 billion to $237 billion.

16. The Global Blockchain Technology Market Size is Expected to Reach $469.49 Billion by 2030.

The trend for cryptocurrency and blockchain technology is gradually maintaining an upward movement. Notably, the virtual currency market has seen massive expansion in the past few years, opening the doors for blockchain technology. Crypto statistics show that the value of the global blockchain technology market size will be $11.14 in 2022. It has grown over $17 billion as of 2023. The value is expected to record a 56% CAGR increase and rise to $469.49 billion by 2030.

17. The Crypto Market will see a 3.5% CAGR between 2021 and 2026.

Some predictions indicated that the virtual asset market will see a 3.5% CAGR by 2026. Compared to crypto data in the past four years, the growth rate is expected to be about 50%. According to the forecasts, prominent crypto tokens like Ethereum, XRP, BNB, and Litecoin could see a market cap close to $1 trillion.

18. In the United Kingdom, 79% of Crypto Owners Have Invested in Bitcoin.

Bitcoin has seen more adoption as the primary crypto token than most assets. With an impressive acceptance rate, BTc stands among the most invested cryptocurrencies since 2009. About 79% of crypto investors in the UK owned Bitcoin.

19. China Launched Its Second Trial of Digital Currency in 2021.

China took a second leap into cryptocurrency by launching its digital currency in Q1 2021. The event was part of China’s approach to dominating the USD in Shenzhen. The country launched the second trial by pumping over $3 million into electron money. Moreover, the event involved 50% more participants than the first trial, which had 5,000 participants. China’s central bank fully supports virtual currency and is the country’s digital yuan (e-CNY) issuer.

20. The US Bagged the Country with Largest Sold Crypto Tokens in 2020.

The increasing popularity and success stories of cryptocurrency led to the emergence of more digital assets. Most networks conducted ICOs (initial coin offerings), marking the sales of tokens to generate funds for the protocols. In 2020, the United States recorded the highest token sales worldwide, with over 48% of total sales for the year. The second and third positions went to Singapore and the UK with 12.78% and 10.5% sales respectively. More than $5.6 billion was raised from token sales during the year.

Must Know Crypto Statistics

21. Nigeria Became the Top Crypto Usage and Ownership Country in 2020.

A survey on global crypto usage and possession in 2020 placed Nigeria at the lead of other countries. The statistical poll had up to 1,000 to 4,000 respondents from each country. Nigeria took the first position with a 32% representation of people who use and own cryptocurrencies. Vietnam and the Philippines emerged in the second and third positions with 21% and 20% respectively.

Moreover, the survey revealed that certain factors contributed to increased crypto adoption rates. Cryptocurrency plugins were added to cell phones in Nigeria, while the Philippines Central Bank endorsed using Cryptocrypto. In 2023, India will have the highest number of crypto owners, 157.6 million. The US came in second with 44.3 million, while Vietnam is third with 25.9 million.

22. About 68 Million Crypto Wallet Users were Available by Q1 2021.

The number of crypto wallet users rose to 68 million during the first quarter of 2021. This increased by 3 million from 65 million in the previous quarter. A crypto wallet is a digital account for holding and storing crypto assets. Users always safeguard their wallets by protecting personal data or pins connected to their digital accounts. 

23. The Global Blockchain Technology Market will Increase by 56% Between 2022 and 2029.

Blockchain technology has received more adoption following the advent and popularity of cryptocurrency. The global blockchain technology market is estimated to increase by an average of 56% annually between 2022 and 2029. Moreover, the market is expected to accumulate a revenue of over $20 billion in 2024 and over $39 billion in the next year. With its immutable distributed ledger, blockchain technology has provided great opportunities in different business sectors. Its numerous potentials have shifted it to evolve as a separate industry. The banking sector stands as one of the biggest investors in blockchain, boasting over 30% of the market value of the technology. 

24. Banks will Save $27 Billion Through Blockchain Technology by 2030.

The banking sector has recorded huge financial losses through different occurrences and incidents on data records. These include reconciliations, money-laundry checks, compliance, payment processing, treasury operations, etc. Banks could reduce their losses and expenses by over 50% with blockchain technology. A broader analysis will see the financial sector saving over $25 billion by 2030 using blockchain.

25. Bitcoin Daily Transactions in 2023 Hit a Peak 670,000 in May.

Bitcoin records the highest number of transactions daily besides Ethereum. In 2023, the primary crypto token reached a daily peak of more than 670,000 transactions in May. During Q1 2021, Bitcoin daily transactions rose to almost 400,000. The value increased by over 78,000 from its average daily transactions in the same quarter of 2018. The transaction volume includes BTC transactions successfully registered on the Bitcoin blockchain. Note that this is completely different from trade volume. Usually, Bitcoin transactions that are recorded in the blockchain include different types like P2P and B2C. 

26. In 2020, Peru Recorded 16% Crypto Adoption to Emerge as the Top Among South American Countries In Crypto Usage.

With the challenges of COVID-19 and lockdowns in most countries, the use of cryptocurrencies skyrocketed. Many people depend on digital assets to complete their transactions and payments. Peru reached the top with a 16% crypto adoption rate in the South American crypto market in 2020. Crypto statistics on users for that year show Peru to have the highest value. Additionally, Latin American crypto users held $25 billion in 2020. However, while some countries provided crypto-friendly rules for people within their regions, some restricted the use and trade of digital assets.

27. About 43 Million People Used Coinbase in 2020.

Coinbase is one of the prominent and largest crypto exchanges in the world. It recorded a user base of over 43 million by the last quarter of 2020. With its huge number of users, the crypto exchange posted a revenue of $1.4 billion in 2020 against $480 million in 2019. Also, the company saw a net profit of $322 million in the same year. Coinbase’s customer base has increased to 150 million verified clients. The value spiked from its 68 million verified customers report in Q2 2021.

28. There’s an Average Cost of $1,576 for a Yearly Running of an Extensive Mining Operation.

As the adoption rate for Bitcoin increased, more enthusiasts became miners of the crypto token. This overflowing interest from many has saturated the BTC mining fields. It has become more difficult to mine Bitcoin, raising the mining expenses as well. As of 2021, miners require up to 40TH/s computer power to ensure an efficient and effective mining process. The machine has a daily cost of $4.32, which is $1,576 yearly. The overhead costs for rewards are about 0.8875 BTC coins, equivalent to $3,017 as of Jan 2021 based on Bitcoin’s price.

29. In 2021, Bitcoin Miners Received 6.25 BTC Coins for Each New Block Produced. 

Following its inception in 2009, Bitcoin miners received 50 BTC coins as rewards for each new block. But the earnings have been dropping as the years roll. The major declining factor in miners’ rewards is the Bitcoin Havling event. This involves halving rewards for BTC new blocks and occurs every four years. Crypto Mining statistics show miners have received 6.25 BTC for each new block since 2021. Moreover, the next Bitcoin Halving event is expected to occur in 2024. 

30. Ethereum Validators Made an Average Daily Income of 0.0075 ETH.

The earnings of Ethereum validators keep changing over the years. After its creation, Ether validators received a reward of 5 ETH daily. After the blockchain implemented the Byzantium hard form in 2017, the reward value dropped to 3 ETH per day. However, the validators earned an average of 0.0075 ETH by 2021. Moreover, the number of Ether validators increased by 10% weekly following the launch of the network The Merge in September 2022.

31. Bitcoin Has An Average Verifying Time of 10 Minutes.

The verification period for Bitcoin transactions on the blockchain is 10 minutes. This represents the time miners take to produce new blocks on the blockchain. Once a BTC transaction is verified, it is transferred to the node and added permanently to the network.

32. In 2021, Crypto Ranked the Eighth Position in the Global Economy.

Crypto hit a cumulative market cap of over $2.19 trillion as of 2021. This placed digital assets as the 8th largest economy worldwide during the period.

33. Crypto Theft Saw Almost 60% Decline in 2021.

Despite its amazing benefits and solutions in the financial world, Cryptocrypto has its fair share of risks. Cryptocurrency thefts have been a major threat in the industry, with different forms emerging with time. Reports revealed that incidents of crypto thefts dropped by about 60% in 2021 compared to the previous year. Similarly, as of June 2023, the total crypto losses neared $2.4 billion, representing a 65% decrease compared to last year.

34. Bitcoin Rose by 227,173% Between 2012 and 2021.

The success story for Bitcoin was huge and impressive regarding its performance between 2012 and 2021. The primary crypto token surged by over 227,000% over nine years.

35. Crypto-Jacking Accounts For 4.32% of the Total Monera Circulating Supply.

A significant portion of Monera’s circulating supply is fueled by crypto-jacking inflows supporting its mining activities. Notably, Monero mining stands out for its simplicity. Compared to Bitcoin, Monero transactions boast enhanced anonymity and are highly untraceable. The beginning of 2021 witnessed the theft of over $64 million worth of Monero coins based on the total supply.

36. Crypto Daily Trade Volume Has Hit $112 Billion.

Massive adoption of crypto trades and investments, driven by their benefits and high returns, has led to a daily trade volume of about $112 billion in the crypto market. Many enthusiasts are hopping on the crypto bandwagon to capitalize on its vast potential and opportunities.

37. Bitcoin Leads with 52% Market Dominance in December 2023.

Bitcoin has solidified its position as the foremost digital asset in the market, holding a dominant stance with a market share exceeding 52% over altcoins as of December 2023. The potential for Bitcoin to expand its current market share remains a possibility.

38. We have 600+ Crypto Exchanges in the World.

By November 2023, a global count revealed the existence of 671 crypto exchanges and trading platforms. These firms offer users various digital assets to engage in trading, purchasing, selling, swapping, staking, and other activities.

39. The Size of Bitcoin’s Blockchain is up to 530 GB.

The primary crypto token experiences growth in transaction rates and engagement activities. As of December 10, 2023, the Bitcoin blockchain has reached a size of 532.51 GB. This marks a 20.38% increase from the previous year’s value of 442.35 GB and a significant rise from the 2021 size of approximately 320 GB

40. Global Mining Market Size Increased by 6.1% CAGR in 2023.

Amid several challenges in crypto mining, the global mining market size rose to $2.145 trillion in 2023. This represents a 6.1% compound annual growth rate (CAGR) from $2.022 trillion the previous year.

41. All Stablecoin Trade Volume Makes Over 80% of the Total Crypto Market.

Trading volumes of the stablecoins are quite massive compared to the other sectors of the crypto market. The total stablecoin daily trade volume constitutes over 80% of the overall crypto market volume. Notably, Tether, the leading stablecoin, always records the highest daily trade volume in the market.

42. The Crypto Industry Lost Over $200 Million to Crypto Theft in 2020.

Over $200,000,000 of digital assets were stolen 4 years ago (2020 – 2024). However, almost 80% of the lost funds have been recovered and returned to owners.

43. A Majority of Bitcoin Traders and Owners Are Male.

The male folk seem to engage more in Bitcoin activities. A survey revealed that they represent over 85.77% of Bitcoin traders and owners.

44. Crypto Mining Consumes More Energy Than Some Countries Like Norway.

Bitcoin mining requires more electricity than most countries, such as Australia and Norway. While BTC used over 127 TWh of power in 2022, Norway consumed approximately 124 TWh. Notably, BTC mining consumes more electricity than over 10 million homes yearly. Its high energy usage placed it among the top 30 global entities of high power consumption. The remaining entities within the category are countries. 

45. There’s a Post About Bitcoin on Social Media Every Three Seconds.

A survey on the trend of cryptocurrencies shows the growing popularity of Bitcoin on the internet. The analysis revealed more than 28,866 social media posts about Bitcoin. A breakdown of the value indicated an average of 1,203 posts on Bitcoin per hour. Further calculations reflected a minimum of 20 posts every minute and one post every three seconds.

46. The Price of Bitcoin has Risen by 66% Since February 2021.

Bitcoin’s price revolved around $30,000 in January 2021. The change represented a more than 200% increase, as the value of BTC was less than $10,000 at the beginning of the previous year. The growth marked part of Bitcoin’s milestone in the history of its price changes. Moreover, the primary token peaked at over 69,000 in November 2021. Bitcoin stirred much excitement among its proponents and enthusiasts. More people joined the crypto trading with more confidence in potential higher returns from BTC investments in the future. At the press time, Bitcoin’s price hovers around $43,416, with a market cap of $849.48 billion. The token dropped by 37% from its ATH.

47. Ethereum Recorded Over 1 Million Transactions Per Day in 2020.

The second-largest crypto token, Ethereum, remains the biggest competition to Bitcoin. It became the top cryptocurrency with the highest number of transactions daily during Q4 2020. According to available data, Ethereum’s transactions were 4x those of Bitcoin. Ethereum outpaced BTC, surpassing 1 million in daily transactions, which recorded approximately 330,000 transactions. As of 2023, Ethereum boasts a daily total transaction count exceeding 1.3 million.

48. The Top Ten Crypto Assets Dominate the Market.

According to data from CoinMarketCap, the top ten crypto assets make up 88% of the total value of all cryptocurrency. As of December this year, the dogs are Bitcoin, Ethereum, Tether, Binance Coin, and others. That means the other 12 percent is spread across the other 20,000-plus cryptos out there, so while there are a ton of different cryptocurrencies, just a handful control most of the market.

49. Investors’ Trust in Crypto Got to Almost 100% by January 2021.

2021 was a very good year for cryptocurrencies. People became more interested in the tech. According to a survey of over 60,000 people in January 2021, 97% trusted Cryptocrypto. They believe the industry will grow and do better in the future. That’s a lot of faith for something digital. It doesn’t end there – over half the people surveyed also said they had gotten into cryptocurrency. They hope to make huge profits when the value starts up. Imagine how many people got rich when Shiba Inu reached its all-time high. Even the likes of PEPE and BONK also made people a lot of money.

Categories of Virtual Currencies

Of all the existing virtual currencies, there are 4 categories which each asset falls under. These include utility, equity, asset-backed, and intrinsic tokens.

Utility Token

50. This type is like a digital key that grants access to specific services or functions within a network or server. A utility token works like a membership pass. It lets people participate in activities or access features and services on a specific network. 

Equity Tokens

51. Equity tokens give ownership rights to valuable stuff like a business or asset. Owning equity tokens means you get a money cut when that company or asset makes money.

Asset-Backed Tokens

52. Asset-backed tokens digitally represent real assets like silver, gold, or property. These tokens connect to tangible things, making their value easier to understand. 

Intrinsic Tokens

53. Intrinsic tokens give access to services like utility tokens. But intrinsic tokens work across multiple networks – not limited to one closed system. Bitcoin and Litecoin allow services beyond their networks.

Taxing Digital Assets

54. The IRS has seen Cryptocrypto as property for taxes since 2014. That made every transaction potentially taxable. To stay compliant, record income and expenses. Also, know if gains were short-term or long-term to determine the tax rates.

55. Cryptocurrency tax laws differ widely among countries. On the one hand, you might enjoy complete exemptions from crypto profits taxes. However, on the other, you could face a hefty 55% tax rate without the option of using strategies like tax-loss harvesting.

56. Many individuals using cryptocurrencies for daily transactions overlook potential tax consequences. In certain areas, you’re technically obligated to record and report crypto capital gains for each transaction, even for that $15 in Bitcoin cash you sent to a friend for dinner.

57. Adding to the complexity, approximately 75% of countries haven’t established clear guidelines on crypto taxation. The ever-changing crypto landscape leaves many questions unanswered, even in regions with proactive regulators. 

58. Regardless of whether you’re a passive investor, active trader, business accepting crypto payments, or a regular crypto user, you likely have significant tax responsibilities. Understanding your country’s tax laws influences your trading approach, business practices, and daily crypto activities.

59. Delving into legal papers or hiring a tax lawyer isn’t practical for many. Fortunately, various tools can help ensure compliance with tax laws. 

60. One recommended option is TokenTax, a crypto tax software platform and calculator that simplifies the process. It connects to exchanges, tracks trades, and generates crypto tax returns automatically, regardless of your country of residence.

Conclusion

Cast your mind back to 2008. A mysterious figure named Satoshi Nakamoto conceived a radically decentralized currency called Bitcoin. Early devotees were scarce and dismissed as fringe anarchists and gamblers.

Yet their numbers grew as pioneers grasped Bitcoin’s potential to revolutionize finance. Over the last decade, the meteoric rise of digital assets like crypto and NFTs proves these early visionaries were onto something big.

Just look at the adoption metrics: Turkey leads the charge, settling 20% of all global transactions in crypto. Household brands from Microsoft to Starbucks now accept payment in Bitcoin. El Salvador has even adopted Bitcoin as a legal tender.

Crypto is going mainstream. Early backers are laughing all the way to the (digital) bank. Those who got in on the ground floor have bagged truly insane ROI. They’ve seen 190,000% growth from 2012 to 2020! Yet some institutional titans remain hesitant to dive into these strange waters. Learning curves around wallets, exchanges, and volatility seem off-putting.

But make no mistake – widespread adoption isn’t a question of if, but when. Analysts project that the value of the ballooning crypto market will exceed $1 trillion globally by 2026.

So, as the finance world of tomorrow takes shape, an opportunity awaits savvy individuals to stake their claims. The next big score could be a few clicks away. Can you afford to miss out? Jump aboard the rocket ship today.

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