The 2022 crypto winter has had a brutal impact on the entire market, wiping hundreds of billions of dollars off the global crypto market cap and wounding thousands of crypto companies across the world. But despite the headwinds and setbacks, investors’ interest in cryptocurrencies continued rising.
According to data presented by BitcoinCasinos.com, the number of people using cryptocurrencies as a payment method or long-term investment is expected to jump to over 300 million in 2024.
More than 60 million New Users in Two Years
Between 2017 and 2021, around 200 million people worldwide started using cryptos as a payment method or a long-term investment, according to a Statista survey.
The mass adoption of digital assets continued growing in 2022, despite the massive volatility seen in the crypto space. During one of the worst years in the history of crypto, the number of crypto users increased by 7% year-over-year and hit 257 million globally. Although this represents a substantial decrease compared to growth rates seen in previous years, the global crypto user base continued growing.
Statista expects 2023 to witness even more significant growth, with the number of users jumping by 15% year-over-year to almost 294 million worldwide. In 2024, the annual growth rate is forecast to slip to 8%. Still, the total number of crypto users will jump to 318 million worldwide, showing an impressive 60 million increase in two years.
Statista data also show the global crypto ownership rate stands at 3.8% in 2023, up from 3.4% a year ago. In 2024, this figure is expected to grow to 4.1%.
Crypto Transaction Value to Jump by 48% in Two Years and hit $50.8B in 2024
The rising number of crypto users continues driving total transaction value growth. In 2022, cryptocurrencies accounted for $34.3bn worth of transactions worldwide, a slight increase from $32.6bn a year before.
Statista expects the global crypto transaction value to jump by almost 25% year-over-year to $42.7bn in 2023. More than half of that value will come from the United States, the world’s leading crypto market. India, Japan, and the United Kingdom follow, with $3.3bn, $1.8bn, and $1.5bn worth of crypto transactions, respectively.
The double-digit growth rates will continue next year, with a total transaction value in the crypto space jumping to $50.8b and showing an impressive 48% increase in two years.