Global crypto adoption grew by 13% through 2024: report
Global crypto adoption grew by 13% in 2024, with Bitcoin and Ethereum adoption rising by 13.1% and 13.6%, respectively.
According to the annual Crypto Market Sizing Report by Crypto.com, global crypto adoption, measured by ownership of crypto assets, grew by 13% in 2024—from 583 million owners in Jan. 2024 to 659 million by Dec.
Bitcoin (BTC) ownership expanded at the rate of 13.1%, reaching 337 million owners, which accounted for 51.2% of all global crypto holders.
Ethereum (ETH) grew by 13.6%, bringing the total number of ETH owners to 142 million, representing 21.7% of global crypto ownership.
A potential additional 300,000 to 1.2 million people may have gained exposure to Bitcoin through U.S. spot exchange-traded funds, though these figures were not included in the direct ownership count.
Institutional interest and pro-crypto policies introduced by U.S. President Donald Trump during the election were key factors in Bitcoin’s adoption. As for Ethereum, its growth was largely driven by the rallies of Ethereum Layer-2 networks following the Dencun upgrade as well as the launch of spot Ethereum ETFs.
To put this rise in global crypto adoption into perspective, a recent study by BlackRock showed that the rate of crypto adoption outpaced mobile phone adoption by 43% and internet adoption by 20%. According to BlackRock, it took only 12 years for crypto adoption to reach 300 million users, while mobile phones reached the same milestone in 21 years and the internet did so in 15. BlackRock attributed this growth to demographic trends, particularly the increasing openness of younger generations to Bitcoin compared to Gen X and Baby Boomers.
While the Crypto.com report focused on Bitcoin and Ethereum ownership distribution, the Dec. 2024 report by blockchain intelligence firm TRM Labs analyzed adoption by country. The study tracked cryptocurrency inflows through exchanges, DeFi platforms, and payment services, using on-chain transaction data and web traffic patterns. To account for economic differences, the data was adjusted based on GDP per capita, ranking countries by adjusted on-chain transaction volume.
India, Indonesia, Nigeria, the United States, and Vietnam emerged as the top five countries leading crypto adoption in 2024. Kenya experienced the most significant growth, climbing from 32nd place in 2023 to 17th in 2024, with its crypto transaction volume doubling year-over-year.
