Crypto

Despite a gloomy 2022, the number of cryptocurrency holders is growing

According to a study by Crypto.com, the number of cryptocurrency holders reached 425 million in 2022, up 39% from last year.

Despite a disastrous 2022 for the entire crypto industry, it ends with a record number of crypto users. According to a study by the Crypto.com trading platform, there are now 425 million worldwide, up 39% from last year.

By the way, 425 million people is about 5% of the world’s population.

“Cryptocurrency Adoption Reached New Milestones […] despite macroeconomic headwinds, including high inflation, conflicts in Europe, supply chain disruptions, and the lingering effects of the Covid-19 pandemic,” the study says.

Bitcoin and Ethereum in Power

The study notes a 20% increase in the number of bitcoin holders, from 183 million in January 2022 to 219 million in December of that year. For its part, the number of Ethereum owners increased by 263%, from 24 million in January to 87 million in December.

“The main catalyst for Ethereum’s high adoption rate was the merger, which marked the completion of the network’s transition from proof of work to proof of stake,” the study notes.

As a result, despite this terrible year in terms of industrial disasters in the industry, we are seeing very strong growth in usage. Here we have proof that the very sharp correction in cryptocurrency prices and the structural jump that the industry has experienced, between the Terra Luna ecosystem, Three Arrow Capital, FTX, and the now bankruptcy of Genesis, have not deterred potential investors.

However, growth is still much lower than expected. In its 2021 report, Crypto.com, which saw a 185% increase in users in 12 months, was convinced that the growth momentum would hopefully reach one billion users by the end of last year. We are still far away, but faced with the turbulence of 2022, we can say that cryptocurrencies remain very attractive and do not discourage customers in any way.

Antoine Larigaudri edited by PA

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