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Cryptocurrency Statistics: The Top 10 Stats

Dec 15, 2022

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Cryptocurrency Statistics: The Top 10 Stats

We live in a constantly evolving, digital era. From time to time, new terms and technologies will pop up and nine times out of ten, understanding what they mean can be some feat. 

 

For many, cryptocurrency is one of these terms. However, if you’ve heard of Bitcoin, then you’re nearly halfway there already. 

Cryptocurrency is essentially a digital or virtual form of currency which doesn’t require a bank to secure transactions. This means that literally anyone can send and receive money this way. 

For those of you already very much invested in the crypto market, we’re hoping our blog full of key cryptocurrency statistics will help you make your next move. 

Essential cryptocurrency statistics: 2022-2023

1. As of 1st December 2022, the global crypto market cap is $858.43 billion

While the market was previously valued at one trillion dollars, the slide down to the billions is a result of multiple market crises throughout the year. 

Naturally, this has knocked the confidence of many crypto investors. However, optimistic forecasts predict that the market will improve in the coming year; hopefully building the confidence back up among investors.

2. Bitcoin is still the most popular crypto

It has been over ten years since Bitcoin burst onto the scene and, to this day, it still holds the top spot as the most popular form of digital currency. 

The cryptocurrency statistics tell us that it has around 23.5 million owners, all of which either have Bitcoin in their wallets or portfolios. 

Although it has taken a hit as of recently, forecasters still believe that Bitcoin is still a promising currency to look into.

3. 67% of Millennials see crypto (specifically Bitcoin) as a safe haven asset

Firstly, what is a safe haven asset?

This is a financial instrument that is expected to retain or even gain value during unstable economic periods. 

While the older generations consider gold to be their safe haven asset, in the new digital age, Millennials believe theirs is digital currency. This is not entirely surprising, as the majority of crypto owners across the world are between 18-34; followed closely by the 35-54 age group.

4. Older generations are starting to show interest

To follow on from our previous point, while Millennials are the largest group to use crypto, adults 65 and over are within the smallest, yet fastest growing group. As far as cryptocurrency growth statistics go, we think this is rather impressive. 

With wariness towards cryptocurrency waning and major financial institutions now offering crypto as part of their investment options, the older generations are now coming round to wanting to invest in it.

5. Over half of crypto investors aim for income

For many, cryptocurrency isn’t just a hobby. It is considered a source of income. In fact, 15% of owners consider it their primary source of income.

There are three reasons for investors choosing cryptocurrency:

  1. 55% view it as a long-term investment strategy
  2. 38% see crypto as an alternative to the current financial system
  3. 31% view the market as a short-term trading opportunity

Over half of crypto investors aim for income

6. Investors use disposable funds for crypto

The crypto market is extremely volatile. Roughly a third of investors know this and therefore allot disposable income for owning crypto.

7. Owners are comfortable with using cryptocurrency as money

As crypto-curiosity increases, more and more owners are using the digital asset for day-to-day transactions. 

Here are some cryptocurrency statistics to suggest what other owners use it for:

  1. 39% hold their crypto assets
  2. 22% of owners use it for staking and lending
  3. 11% use crypto for payments

By 2023, the transaction value of cryptos is expected to exceed $16 billion.

8. Crypto owners prefer exchanges for their crypto assets

60% of users keep their crypto within exchanges. This is because exchanges offer the most security, are user-friendly and support crypto-to-crypto transactions.

Binance is the largest crypto exchange, globally, with a $16.91 billion/ 24 hr volume.

9. The first 10 cryptocurrencies comprise almost 84% of the total cryptocurrency market value

For novice investors who want to begin their crypto journey, the top 10 strongest currencies to invest in are: 

  1. Bitcoin
  2. Etherium
  3. Tether
  4. Binance Coin
  5. USD Coin
  6. Binance USD
  7. Ripple
  8. Dogecoin
  9. Cardano
  10. Polygon

The remaining digital currencies account for only 16.63% of the total market value.

Alongside the top ten, over 5,000 altcoins are circulating. Some have their own unique blockchains, but the majority are built on the Bitcoin and Etherium blockchains. 

The crypto market has been known to be notoriously volatile. It is designed in such a way that not all assets will thrive. In 2021, a total of 1,984 coins were off the market due to controversies, hacks and lost perceived value. 

There may be thousands of cryptocurrencies on the market, but stats show it’s still wiser to go with established ones.

10. Over the last two years, $1 billion in crypto has been lost to scams and theft

Cryptocurrency statistics suggest that the frequency of crypto theft rose by as much as 160% between 2019 – 2020. As well as this, from 2021 – 2022, 46,000 people have reported losing over $1 billion in crypto to scams alone. 

Given this, it is understandable that many newcomers to cryptocurrency are hesitant to begin investing. However, to those people, we say the best course of action is to never let yourself be forced into sending cryptocurrency in advance and be wary of promises and big returns. 

Over the last two years, $1 billion in crypto has been lost to scams and theft

11. Banks could save $27 billion through blockchain adoption

Traditional banks have to spend large sums of money on money laundry checks, transaction processing, reconciliation, compliance and more. 

Blockchain eliminates the need to do all of these, as it opens a secure, but decentralised way of acquiring and transferring cryptocurrencies. A study by Juniper Research suggests that financial institutions could save as much as $27 billion by 2030 if they adopt the technology. They’d essentially be cutting their expenses by half and who doesn’t want to do that?

12. Emerging markets dominate crypto adoption worldwide 

The only high income countries in the top 20 ranked countries in The Global Crypto Adoption are the United States (5th) and the United Kingdom (17th). 

A report by Chainalysis shows that 10 of the top 20 ranked countries in the index are from lower middle income countries, with Vietnam, the Philippines, Ukraine and India topping the list. 

We hope these cryptocurrency marketing statistics have offered some insight into how to navigate the market should you wish to delve deeper into it. 

Our Influencer marketing agency and Social agency are located worldwide, with our agency network based in the USA, UK, UAE and China.

If you want to receive our industry insights, visit our Influencer Marketing & Social Media blog.

@ Socially Powerful

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James Hacking

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Socially Powerful, founded in 2017, stood as pioneers of the influencer marketing industry. Today we are a global social marketing agency and technology company.

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