Despite massive setbacks, the global crypto community pushed through 2022, one of the most challenging years in crypto history. And even though the market is still down, many expect cryptocurrencies to bounce back.
So, let’s see what the latest cryptocurrency growth statistics say about this and check whether Bitcoin and other currencies can recover any time soon.
Key Cryptocurrency Growth Statistics:
The revenues in the cryptocurrency segment could reach $42.69 billion by the end of 2023.
The cumulative value of existing cryptocurrencies is approximately $804 billion.
The global crypto ownership rate is around 4.2%.
The user penetration in the crypto segment could reach 4.4% by 2027.
The percentage of people likely to buy Bitcoin grew by 7% between 2019 and 2020.
As of 2023, nearly 9,000 cryptocurrencies are in circulation.
Fintech specialists predict BTC will end 2023 at $26,844.
The global cryptocurrency market could grow by a 12.8% CAGR from 2021 to 2030.
The global cryptocurrency market could see a 7.4% CAGR between 2023 and 2026.
By 2028, the global cryptocurrency market value could hit $2.8 billion.
A Quick Cryptocurrency Market Overview
The revenues in the cryptocurrency segment could reach $42.69 billion by the end of 2023.
The crypto crash shocked many investors, but the market regained stability in early 2023. Therefore, crypto enthusiasts can share optimism while enjoying the average revenue per user of around $145.40.
Moreover, the latest growth projections show that the revenue in the cryptocurrency segment could see a compound annual growth rate (CAGR) of 14.36% between 2023 and 2027.
(Statista)
In 2022, the global cryptocurrency market dropped to $4.6 billion.
Despite the hits it took in 2022, crypto is back, with the latest cryptocurrency projections expecting a 12.5% compound annual growth rate from 2023 to 2030.
The wide cryptocurrency acceptance will require further government initiatives, but crypto remains a viable cash alternative and a hedge against inflation.
(Grand View Research)
The cumulative value of existing cryptocurrencies is approximately $804 billion.
In November 2021, Bitcoin reached an all-time high of $68,789, generating massive returns for many crypto traders and investors. However, crypto growth slowed soon after, with prices plummeting in 2022.
Nevertheless, Bitcoin remains the most valuable crypto coin in circulation, followed by Ethereum and Tether in second and third place, respectively.
(Bankrate)
The highest global crypto market capitalization was around $3 trillion.
The cumulative market capitalization of cryptocurrencies reached an all-time high on November 10th, 2021, when the estimated value exceeded the three trillion mark.
After that, China stemmed crypto mining efforts, virtually blocking the crypto market within the country and affecting the global crypto industry.
(Statista)
Cryptocurrency Users Statistics and Facts
The global crypto ownership rate is around 4.2%.
As of 2023, the estimated number of crypto users worldwide is around 420 million, with new users jumping on the bandwagon daily. Of course, at the same time, many are leaving the market by selling the coins and emptying their crypto wallets.
And even though cryptocurrencies are only 15 years old, the market attracts more than 4% of the world’s population.
(Triple-A)
The user penetration in the crypto segment could reach 4.4% by 2027.
Statista’s cryptocurrency usage statistics estimate a lower user count than the previous source on our list, but it can be challenging to determine the precise number of active crypto owners. Hence the difference.
Namely, Statista’s data reveals a 3.8% crypto ownership rate in 2023, potentially reaching 347 million users by 2027.
(Statista)
86% of Americans have heard at least a little about cryptocurrencies.
The crypto hype popularized the topic and brought cryptocurrencies to mainstream media, so it’s no surprise that more than two-thirds of American adults have heard about crypto.
Moreover, a recent crypto market overview revealed that 16% of Americans have traded or used a cryptocurrency. As expected, high-income Americans (31%) are more likely to have heard about crypto than low-income US citizens (21%).
(Pew Research Center)
The percentage of people likely to buy Bitcoin grew by 7% between 2019 and 2020.
The COVID-19 pandemic changed many things, including people’s perspectives on cryptocurrencies. Many brought their first coins during this period.
Notably, the percentage of people admitting they are ‘very’ or ‘somewhat’ likely to invest in Bitcoin within the next five years jumped from 27% in 2019 to 34% in 2020.
(Blockchain Capital)
The Latest Cryptocurrency Market Trends
The global cryptocurrency market cap is $1.11 trillion.
At the time of writing, the total crypto market volume showed a 24.87% decrease on a 24-hour basis. Meanwhile, stable crypto coins comprised 89.22% of the 24-hour crypto market volume.
As expected, Bitcoin dominates the scene, with a 42.10% share and a 0.22% decrease in 24-hour volume.
(CoinMarketCap)
The global crypto market cap has dropped by 65% since 2021.
After the turbulent 2022, many experts share a pessimistic cryptocurrency outlook, expecting things to get worse for crypto enthusiasts in the years to come.
After all, the downfall of FTX, TerraUSD, and Three Arrows Capital impacted the industry tremendously, causing a 60% drop in bitcoin and Ethereum’s value.
(Markets Insider)
As of 2023, nearly 9,000 cryptocurrencies are in circulation.
It’s no secret that 2022 caused an investor sentiment shift, and almost every cryptocurrency forecast predicted impending doom. Yet, millions of crypto enthusiasts didn’t lose faith in digital gold.
Namely, many created new coins or experimented with blockchain to move the crypto industry forward. Nevertheless, the top 20 coins comprise around 90% of the market.
(Statista)
53.6% of investors agree that government and financial institutions will recognize the crypto market in the future.
According to 48.9% of cryptocurrency investors, traditional finance and macroeconomics increasingly influence the crypto market.
Consequently, more than half of the crypto investors agree that widespread recognition by official institutions is inevitable.
(CoinWire)
Cryptocurrency Projections for 2023 and Beyond
Fintech specialists predict BTC will end 2023 at $26,844.
According to Finder’s panel of fintech experts, BTC could see a price recovery in 2023. Moreover, BTC’s value could reach $77,492 by 2025 and exceed $188,000 by 2030!
Thus, it’s no surprise that 50% of the panelists agree that now is the time to buy, while 37% agree it’s wise to hold the asset. Only 13% of specialists say it’s time to sell BTC.
(Finder)
The global cryptocurrency market could grow by a 12.8% CAGR from 2021 to 2030.
Predicting long-term cryptocurrency growth amidst global uncertainty might be overly optimistic, but the latest market trends reveal crypto’s resilience and flexibility.
Notably, the global crypto market size could reach $4.94 billion by 2030, thanks to a 12.8% compound annual growth rate.
(Allied Market Research)
By 2026, the cryptocurrency market value could reach $2.2 billion.
Crypto prices have been volatile since day one, making accurate projections and forecasts extremely challenging. Yet, many fintech experts and crypto enthusiasts are announcing the beginning of a bull cycle for the crypto industry.
For instance, crypto market projections revealed by Markets & Markets estimate a 7.1% compound annual growth rate between 2023 and 2026. So, the market’s value could hit $2.2 billion at the end of the forecasted period.
(Markets & Markets)
The global cryptocurrency market could see a 7.4% CAGR between 2023 and 2026.
Another report estimating a healthy compound annual growth rate for the crypto market came from Stratview Research. Namely, they also forecasted crypto market growth of around seven percentage points for the next three years.
Therefore, the global crypto market value could reach $2.3 billion by the end of 2026.
(Stratview Research)
By 2028, the global cryptocurrency market value could hit $2.8 billion.
The crypto market’s value was around $1.3 billion in 2021. Then, crypto prices entered a downward spiral, causing headaches across the crypto community.
Yet, growth signs are evident, with prices gradually recovering. For example, an optimistic forecast sees a 12.2% CAGR from 2023 to 2028.
(Globe News Wire)
Will Crypto Rise Again?
The latest cryptocurrency growth statistics show that the crypto market could reverse course and come back stronger than ever if there are no massive economic headwinds in the upcoming period.
Of course, tight monetary policies and rising interest rates will make the process challenging, making it nearly impossible to predict the future of crypto. Nevertheless, the cyclical nature of economic events might spell good news for patient crypto investors and traders.
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