Welcome to the Crypto.com Monthly Research Roundup Newsletter!
1. Market Index
The monthly price, volume, and volatility indices for December were positive at +15.84%, +24.04%, and +8.36%, respectively.
2. Crypto Market Sizing Report 2023
Global cryptocurrency owners increased by 34% in 2023, rising from 432 million in January 2023 to 580 million in December 2023.
Similar to the previous year, this notable growth continued despite several macro headwinds, including monetary tightening efforts by Western central banks to tame inflation, conflicts in Europe and the Middle East, as well as ongoing longer-term impacts of the pandemic. The growth was sustainable in the first half of 2023, highlighted by the success of the highly anticipated Ethereum (ETH) Shanghai Upgrade, with the second half of the year seeing strong growth for both Bitcoin (BTC) with Bitcoin ETF filings and anticipation in the U.S. market. This growth included BTC ownership growing by 33%, from 222 million in January to 296 million in December (accounting for 51% of global crypto owners). Additionally, ETH ownership grew by 39%, from 89 million in January to 124 million in December (accounting for 21% of global crypto owners).
The report was based on Crypto.com’s on-chain market sizing estimates, combining on-chain data with blended parameters to estimate the number of global crypto owners.
3. Exploring the Future of Blockchain Gaming: Trends and Opportunities
Over the past decade, the gaming industry has seen tremendous growth and transformation. Amid the transformation, the industry faces new opportunities and challenges. Into this landscape comes blockchain gaming, which holds the potential to fundamentally change the way games are built, distributed, and monetised. This report will explore the global gaming market, the current state of blockchain gaming, the obstacles it faces, and its potential to shape the future of the industry.
4. 2023 Year Review & 2024 Year Ahead
In this special year-end report, we selected the top events and developments of 2023, followed by our outlook for the key trends in 2024.
Looking back at 2023, the cryptocurrency industry witnessed both impressive milestones and recovery from the tumultuous times of 2022. We applauded Ethereum’s successful Shapella upgrade and celebrated the milestone of 575 million in crypto retail adoption (November 2023). Against the challenging global macroeconomic conditions, we saw the hit from the banking crisis in the first half of the year, and the rejuvenation in activities in the second half.
Despite the uncertainty of the cryptocurrency market and global economy, innovations and developments continued in the crypto industry. In 2023, the builders have been hard at work as usual, growing Layer-1 and Layer-2 ecosystems, introducing new use cases to Bitcoin, brainstorming creative ways to build Web3 social, and much more.
Looking ahead to 2024, we are optimistic that crypto adoption — both in retail and institutional — will continue growing at a steady pace. We are excited about Bitcoin’s upcoming fourth halving event and Ethereum’s next major upgrade, while also watching out for more development on artificial intelligence (AI) and the synergy by working together with Web3. We remain bullish on Web3 and look forward to seeing more innovations around various ecosystems. Finally, we also expect to see massive institutional adoption if the US Securities and Exchange Commission (SEC) approves the filing of BTC and ETH spot exchange-traded funds (ETFs).
Last but not least: We are very grateful to our community for reading our publications and sharing valuable feedback, and look forward to bringing more quality research and insights in the coming year.
Check out 2023 Year Review & 2024 Year Ahead
5. Alpha Navigator
This institutional-focused report dives into macro trends, market-neutral pairs, style-factor screens, and events. Read the full Alpha Navigator report here.
- Asset classes mostly rose in December, with BTC and ETH leading.
- BTC correlations with other assets were mostly positive in the past 1-month, albeit at weak levels.
6. Crypto Conference & Economic Calendar from Market Pulse
Crypto Conferences Calendar
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Research & Insights Team