Crypto Market Sizing Report H1 2023

Global crypto owners reached 516 million by the first half of 2023

Key Takeaways

• Global crypto owners increased by 21% in the first half of 2023, rising from 425 million in December 2022 to 516 million in June 2023.
  • Bitcoin (BTC) owners grew by 22% from 219 million in December 2022 to 267 million in June 2023, accounting for 52% of global owners;
  • Ether (ETH) owners grew by 21% from 87 million in December 2022 to 105 million in June 2023, accounting for 20% of global owners.

• The main catalyst behind BTC’s adoption growth was the introduction of the Bitcoin Ordinals protocol. This enabled NFTs and fungible tokens to be minted on the Bitcoin network. Strong interest from institutional investors also contributed to the increase in BTC’s adoption.

• ETH’s adoption growth was mainly driven by Ethereum’s Shanghai upgrade, which allowed the withdrawals of staked ETH from the now-Proof of Stake (PoS) blockchain.

Read full report: Crypto Market Sizing Report H1 2023

Authors

Crypto.com Research and Insights team

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