Snapshot 138

Global crypto users increased by 34% in 2023, Bitcoin trading volumes hit a high, and Hong Kong eyes BTC spot ETFs

Jan 26, 2024
Snapshot Key Visual 138

Hello Snapshotters,

Amid the ups and downs, 2023 was a great year for crypto. Global crypto ownership is up 34% since January 2023, as the space welcomed 150 million new users in the past year. Bitcoin ownership led the pack, growing from 222 million to 296 million, accounting for 51% of global owners, while ETH adoption came second. 

More details below.

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Market Spotlight

Note: Market prices captured in USD at the time of sending. Explore more on Crypto‌.com/Price.

Want more? Get weekly Market and DeFi Updates from Crypto.‌com’s Research Team.

Chart of the Week

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News Snaps

📈 BTC Trading Volumes Hit a High

Trading volumes of BTC exchange-traded products, also known as ETPs, totaled US$11.8 billion last week, which is seven times the average weekly trading volume of 2023. Part of the high trading volume were outflows of almost US$3 billion from higher-cost Bitcoin products, while the lower-cost Bitcoin spot ETFs gained over US$4 billion in inflows.

🇭🇰 Hong Kong Eyes Spot ETFs

Following the successful launches of U.S. spot Bitcoin exchange-traded funds (ETFs), at least 10 fund managers have reportedly been preparing to launch crypto-based ETFs (including spot-based) in Hong Kong, which could potentially see the issuance of its first spot crypto ETFs as early as mid-2024.

📲 Swipe Right on Your Perfect Crypto Match

Tinder meets crypto charts in this Unibot extension: Chinder is a new app that lets users swipe cryptocurrency charts for Solana-based tokens. The bot extension is an experiment by undoxxed developer Virtual Facade.

🐱 Genesis Cat Sells for Over US$250K 

The ‘Genesis Cat’ Bitcoin art by FAR is meant to pay homage to ancient code on the Bitcoin blockchain, called the ‘OP_CAT’ command. The artwork that honors it fetched 6.31 BTC at Sotheby’s, with the wider Ordinals sale bringing in nearly US$1.1 million in total. 

🖼️ Musee d’Orsay’s First-Ever NFT Showcase Coming

For the first time ever, the historic Musee d’Orsay in Paris will display original NFT artworks next month. The project, Le Code d’Orsay, created by artist and DJ Agoria, will combine digital and physical elements to showcase the artwork.

What’s Ahead

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Latest Research

Global cryptocurrency owners increased by 34% in 2023, rising from 432 million to 580 million, while Bitcoin (BTC) owners grew from 222 million to 296 million, accounting for 51% of global owners. Ethereum (ETH) ownership also grew by 39%, from 89 million in January to 124 million in December, accounting for 21% of global owners.

ETH’s adoption growth was mainly driven by liquid staking after Ethereum’s Shanghai Upgrade, while the main catalyst behind BTC’s adoption growth was the development in Bitcoin exchange-traded funds (ETFs) and the introduction of the Bitcoin Ordinals protocol.

More details in the report:

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NFT Spotlight

Imagine a community where dreams become an instant reality. A sanctuary for the birth of a new culture — where Web3, music, gaming, film, and AI are fused — is unfolding right now. 

On Wednesday, January 31, DESTABILIZED — a collective of trailblazers forming a multifaceted movement blending art, culture, and community — drops ‘SYNTHTOPIA: THE HOLY GRAIL’.

Reveal yourself through 6,000 unique avatars, artifacts, robots, treasure bundles, spirit animals, and much more. This drop features 🏆 hidden NFTs, 🪂 various NFT airdrops, 🎰 exclusive club privileges, 🔥 11 exclusive invitations, 🎫 a spot on the ALLOWLIST for future eligible SYNTHTOPIA drops, and 🗝️ the opportunity to attend collectors-only IRL events and Metaverse gatherings.

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What do you truly desire?

See DESTABILIZED’s other collections — or visit the Synthtopia world.

Product Picks

KAVA, KSM, and SEI Are Now Available on Earn

Crypto Earn now supports Kusama (KSM), Kava (KAVA), and Sei (SEI), where users can earn up to 8%*, 7%*, and 5%*, respectively, with an additional 2% p.a. for Private users. For more details, visit the FAQ here. *Availability and rates vary by jurisdiction.

NFT Support for the Wallet Extension Is Here

The Wallet Extension has added support for Cronos NFTs, allowing you to view, send, and receive your NFTs with ease. This is the first in a long list of planned updates to make the Wallet Extension the perfect tool for trading and managing NFTs. Download the Wallet Extension here. App New Token Listings

AltLayer (ALT)

AltLayer provides a versatile, no-code rollups launch service that allows users to easily create custom rollups. ALT is AltLayer’s native utility token and serves multiple purposes, including economic bonding to secure restructured assets, governance voting, protocol incentivization for ecosystem operators, and payment of protocol fees for intra-network services.

MiL.k (MLK)

MiL.k is a blockchain-based lifestyle mileage-point-integration platform. It connects various service companies in the travel, leisure, and lifestyle sectors through integration and trade of reward and milage points. This is accomplished using Milk Coin (MLK) as a utility token for the entire system. MLK can be exchanged for reward points from various partners on the MiL.k platform.

Crypto Level Up

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What Is Copy Trading?

Copy trading is a feature on certain platforms that allows users to replicate fellow users’ trades, usually those of more seasoned traders.

How Does Copy Trading Work?

Users who want their portfolio copied can make their trades visible to others, along with performance metrics like returns across a number of time periods. On the flip side, other users can then choose which trader they wish to copy.

Once they make their selection, their portfolio weights and trades will replicate the trader they’re following.

Get the full scoop on copy trading.


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Even when there’s snow covering the ground, flora still thrives. Here we see the Jade Green Visa Card sprouting through the white landscape of Winter, greeting @croshouf on another glorious day.

Hashtag #CryptoIRL with your Crypto.‌com Visa Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!


51% Attack

A 51% attack happens when an individual or group with malicious intent controls more than 50% of a network’s mining power or hashrate. They can then create invalid transactions or deny legitimate ones on the blockchain’s ledger.

51% attacks are extremely unlikely to occur for larger cryptocurrencies due to the cost of acquiring sufficient mining or staking power. 

For example, to execute a 51% attack on ETH, hackers would need to hold more than half of all staked Ethereum; for BTC, they would need to own enough mining rigs to consistently account for over half of all newly mined Bitcoin blocks.

Security Tips

S$167,000 Lost to Lunar New Year Sales Scam in Singapore

From September 2023 to January 2024, S$167,000 was stolen from at least five victims in a Lunar New Year sales scam. The scammers posted ads on Facebook and Instagram to direct victims, which convinced them to download an Android Package Kit (APK).

This APK posed as an order platform for the goods, allowing the scammers to remotely access the victims’ devices and steal their banking credentials and passwords.

Here’s How to Protect Yourself From Online and E-Commerce Scams:

1. Download a security app. A variety of free and paid ones are available for both Android and iOS.

2. Be extremely cautious of downloading apps from third-party websites. If you believe you’ve downloaded a malicious app, run the security app on your device and consider performing a factory reset.

3. Keep your device’s operating system and apps up to date. This ensures that hackers can’t exploit any loopholes that might be present in older versions of the operating system or apps.

4. If you’re purchasing or ordering items online, a variety of internationally established payment methods should be accepted. There is no need to download a new app on your device just to pay them.

That’s it for this week’s Snapshot. Want more? Find out what’s trending in the crypto world.

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