Subscribe to our social channels to get the latest news about Hungary!
A huge boom: cryptocurrency users rise to 580 million
Change language:
The Crypto.com exchange estimates that the number of cryptocurrency users worldwide has reached 580 million.
A report by crypto.com, a crypto exchange that researches the crypto market size, shows that the global cryptocurrency user base grew by 34% in 2023, from 432 million to 580 million, despite prolonged bear market conditions in the industry.
This staggering growth suggests that cryptocurrencies and blockchain technology will continue to expand rapidly while macro-level economic challenges and wars plague the world.
The analysis points out that not even monetary tightening by Western central banks, conflicts in Europe and the Middle East, and the consequences of the epidemic have been able to stop the spread of cryptocurrencies.
What events have contributed to the boom?
The report highlights that the upgrade of Ethereum Shanghai contributed to the increase in activity on the network and the rise in the value of ETH. The emergence of NFTs on the Bitcoin blockchain has played a key role in the growing popularity of cryptocurrencies.
The expected news of Bitcoin ETF approvals in the US has also boosted the Bitcoin boom and the increase in wallet creation in 2023. Bitcoin adoption finally increased significantly in the fourth quarter of the year.