The global user base of cryptocurrencies increased by nearly 190 percent between 2018 and 2020, only to accelerate further in 2022. This is according to calculations from various sources, based on information from trading platforms and on-chain wallets. Increasing demographics might initially be attributed to a rise in the number of accounts and improvements in identification. In 2021, however, crypto adoption continued as companies like Tesla and Mastercard announced their interest in cryptocurrency. Consumers in Africa, Asia, and South America were most likely to be an owner of cryptocurrencies, such as Bitcoin, in 2022.

How many of these users have Bitcoin?

User figures for individual cryptocurrencies are unavailable. Bitcoin, for instance, was created not to be tracked by banks and governments. What comes closest is the trading volume of Bitcoin against domestic fiat currencies. The source assumed, however, that UK residents were the most likely to make Bitcoin transactions with British pounds. This assumption might not be accurate for popular fiat currencies worldwide. On top of that, coins such as Tether or Binance Coin - referred to as "stablecoins" - are often used to buy and sell Bitcoin. Those coins were not included in that particular statistic.

Wallet usage declined

Total crypto wallet downloads were significantly lower in 2022 than in 2021. The number of downloads of Coinbase, Blockchain.com, and MetaMask, among others, declined as the market hit a "crypto winter" over the year. The crypto market also suffered bad press when FTX - one of the largest crypto exchanges based on market share - collapsed in November 2022. Binance, on the other hand, regained some of the market share it had lost between September and October 2022, growing by 0.8 percentage points in November.

Bitcoin (BTC) price again reached an all-time high in 2024, as values exceeded over 73,000 USD in March 2024. That particular price hike was connected to the approval of Bitcoin ETFs in the United States, whilst previous hikes in 2021 were due to events involving Tesla and Coinbase, respectively. Tesla's announcement in March 2021 that it had acquired 1.5 billion U.S. dollars' worth of the digital coin, for example, as well as the IPO of the U.S.' biggest crypto exchange fueled mass interest. The market was noticably different by the end of 2022, however, with Bitcoin prices reaching roughly 87,471.70 as of March 25, 2025 after another crypto exchange, FTX, filed for bankruptcy.Is the world running out of Bitcoin?Unlike fiat currency like the U.S. dollar - as the Federal Reserve can simply decide to print more banknotes - Bitcoin's supply is finite: BTC has a maximum supply embedded in its design, of which roughly 89 percent had been reached in April 2021. It is believed that Bitcoin will run out by 2040, despite more powerful mining equipment. This is because mining becomes exponentially more difficult and power-hungry every four years, a part of Bitcoin's original design. Because of this, a Bitcoin mining transaction could equal the energy consumption of a small country in 2021.Bitcoin's price outlook: a potential bubble?Cryptocurrencies have few metrices available that allow for forecasting, if only because it is rumored that only few cryptocurrency holders own a large portion of available supply. These large holders - referred to as 'whales' - are said to make up of two percent of anonymous ownership accounts, whilst owning roughly 92 percent of BTC. On top of this, most people who use cryptocurrency-related services worldwide are retail clients rather than institutional investors. This means outlooks on whether Bitcoin prices will fall or grow are difficult to measure, as movements from one large whale already having a significant impact on this market.

In March 2024 Bitcoin BTC reached a new all-time high with prices exceeding 73000 USD marking a milestone for the cryptocurrency market This surge was due to the approval of Bitcoin exchange-traded funds ETFs in the United States allowing investors to access Bitcoin without directly holding it This development increased Bitcoin’s credibility and brought fresh demand from institutional investors echoing previous price surges in 2021 when Tesla announced its 15 billion investment in Bitcoin and Coinbase was listed on the Nasdaq By the end of 2022 Bitcoin prices dropped sharply to 15000 USD following the collapse of cryptocurrency exchange FTX and its bankruptcy which caused a loss of confidence in the market By August 2024 Bitcoin rebounded to approximately 64178 USD but remained volatile due to inflation and interest rate hikes Unlike fiat currency like the US dollar Bitcoin’s supply is finite with 21 million coins as its maximum supply By September 2024 over 92 percent of Bitcoin had been mined Bitcoin’s value is tied to its scarcity and its mining process is regulated through halving events which cut the reward for mining every four years making it harder and more energy-intensive to mine The next halving event in 2024 will reduce the reward to 3125 BTC from its current 625 BTC The final Bitcoin is expected to be mined around 2140 The energy required to mine Bitcoin has led to criticisms about its environmental impact with estimates in 2021 suggesting that one Bitcoin transaction used as much energy as Argentina Bitcoin’s future price is difficult to predict due to the influence of large holders known as whales who own about 92 percent of all Bitcoin These whales can cause dramatic market swings by making large trades and many retail investors still dominate the market While institutional interest has grown it remains a small fraction compared to retail Bitcoin is vulnerable to external factors like regulatory changes and economic crises leading some to believe it is in a speculative bubble However others argue that Bitcoin is still in its early stages of adoption and will grow further as more institutions and governments recognize its potential as a hedge against inflation and a store of value 2024 has also seen the rise of Bitcoin Layer 2 technologies like the Lightning Network which improve scalability by enabling faster and cheaper transactions These innovations are crucial for Bitcoin’s wider adoption especially for day-to-day use and cross-border remittances At the same time central bank digital currencies CBDCs are gaining traction as several governments including China and the European Union have accelerated the development of their own state-controlled digital currencies while Bitcoin remains decentralized offering financial sovereignty for those who prefer independence from government control The rise of CBDCs is expected to increase interest in Bitcoin as a hedge against these centralized currencies Bitcoin’s journey in 2024 highlights its growing institutional acceptance alongside its inherent market volatility While the approval of Bitcoin ETFs has significantly boosted interest the market remains sensitive to events like exchange collapses and regulatory decisions With the limited supply of Bitcoin and improvements in its transaction efficiency it is expected to remain a key player in the financial world for years to come Whether Bitcoin is currently in a speculative bubble or on a sustainable path to greater adoption will ultimately be revealed over time.

China IVI: MoM: SITC3: Coin (Other than Gold Coin), not Being Legal Tender data was reported at 119.243 Average 12 Mths PY=100 in Dec 2022. This records a decrease from the previous number of 209.500 Average 12 Mths PY=100 for Nov 2022. China IVI: MoM: SITC3: Coin (Other than Gold Coin), not Being Legal Tender data is updated monthly, averaging 164.371 Average 12 Mths PY=100 from Oct 2021 (Median) to Dec 2022, with 4 observations. The data reached an all-time high of 428.100 Average 12 Mths PY=100 in Oct 2021 and a record low of 76.300 Average 12 Mths PY=100 in Oct 2022. China IVI: MoM: SITC3: Coin (Other than Gold Coin), not Being Legal Tender data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JE: Trade Value Index: MoM: SITC3 Classification.

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Consumers from countries in Africa, Asia, and South America were most likely to be an owner of cryptocurrencies, such as Bitcoin, in 2024. This conclusion can be reached after combining 55 different surveys from the Statista's Consumer Insights over the course of that year. Nearly one out of three respondents to Statista's survey in Nigeria, for instance, mentioned they either owned or use a digital coin, rather than six out of 100 respondents in the United States. This is a significant change from a list that looks at the Bitcoin (BTC) trading volume in 44 countries: There, the United States and Russia were said to have traded the highest amounts of this particular virtual coin. Nevertheless, African and Latin American countries are noticeable entries in that list too. Daily use, or an investment tool? The survey asked whether consumers either owned or used cryptocurrencies but does not specify their exact use or purpose. Some countries, however, are more likely to use digital currencies on a day-to-day basis. Nigeria increasingly uses mobile money operations to either pay in stores or to send money to family and friends. Polish consumers could buy several types of products with a cryptocurrency in 2019. Opposed to this is the country of Vietnam: Here, the use of Bitcoin and other cryptocurrencies as a payment method is forbidden. Owning some form of cryptocurrency in Vietnam as an investment is allowed, however. Which countries are more likely to invest in cryptocurrencies? Professional investors looking for a cryptocurrency-themed ETF were more often found in Europe than in the United or China, according to a survey in early 2020. Most of the largest crypto hedge fund managers with a location in Europe in 2020, were either from the United Kingdom or Switzerland - the country with the highest cryptocurrency adoption rate in Europe according to Statista's Global Consumer Survey. Whether this had changed by 2021 was not yet clear.

How many cryptocurrencies are there? In short, there were over 9,000 as of 2023, although there were many more digital coins in the early months of 2022. Note, however, that a large portion of cryptocurrencies might not be that significant. There are other estimates of roughly 20,000 cryptocurrencies existing, but most of these are either inactive or discontinued. Due to how open the creation process of a cryptocurrency is, it is relatively easy to make one. Indeed, the top 20 cryptocurrencies make up nearly 90 percent of the total market. Why are there thousands of cryptocurrencies? Any private individual or company that knows how to write a program on a blockchain can technically create a cryptocurrency. That blockchain can be an existing one. Ethereum and Binance Smart Chain are popular blockchain platforms for such ends, including smart contracts within Decentralized Finance (DeFi). The ease of crypto creation allows some individuals to find solutions to real-world payment problems while others hope to make a quick profit. This explains why some crypto lack utility. Meme coins such as Dogecoin - named after a Japanese dog species - are an infamous example, with Dogecoin's creator coming out and stating the coin started as a joke. The many different types of cryptocurrency Meme coins are but one group of cryptocurrencies. Other types include altcoins, utility tokens, governance tokens, and stablecoins. Altcoins are often measured against Bitcoin, as this refers to all crypto that followed after Bitcoin - the first digital currency ever created. Utility tokens and governance tokens are somewhat connected to NFTs and the metaverse. A specific example is the MANA cryptocurrency, which allows real estate purchases in the Decentraland metaverse. Stablecoins refer to the likes of Tether, which are pegged to a real-world asset like the U.S. dollar. Such coins are meant to be less volatile than regular cryptocurrency.

Prices for BTCUSD Bitcoin US Dollar including live quotes, historical charts and news. BTCUSD Bitcoin US Dollar was last updated by Trading Economics this March 1 of 2025.

EP: PS: Ntrl/Cltrd Pearl, Prcs/Semiprcs Stone, Imtn Jwlry, Coin (NC) data was reported at 116.300 Dec2023=100 in Jan 2025. This records a decrease from the previous number of 117.300 Dec2023=100 for Dec 2024. EP: PS: Ntrl/Cltrd Pearl, Prcs/Semiprcs Stone, Imtn Jwlry, Coin (NC) data is updated monthly, averaging 108.300 Dec2023=100 from Dec 2023 (Median) to Jan 2025, with 14 observations. The data reached an all-time high of 119.600 Dec2023=100 in Nov 2024 and a record low of 99.600 Dec2023=100 in Feb 2024. EP: PS: Ntrl/Cltrd Pearl, Prcs/Semiprcs Stone, Imtn Jwlry, Coin (NC) data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.JA116: Export Price Index: by Harmonized Index.

Slovakia Exports Volume Index: Pearls, Gemstones, Imitation Jewellery and Coins data was reported at 76.500 Prev Year=100 in 2016. This records an increase from the previous number of 71.600 Prev Year=100 for 2015. Slovakia Exports Volume Index: Pearls, Gemstones, Imitation Jewellery and Coins data is updated yearly, averaging 113.600 Prev Year=100 from Dec 1998 (Median) to 2016, with 19 observations. The data reached an all-time high of 272.400 Prev Year=100 in 2007 and a record low of 68.400 Prev Year=100 in 2002. Slovakia Exports Volume Index: Pearls, Gemstones, Imitation Jewellery and Coins data remains active status in CEIC and is reported by Statistical Office of the Slovak Republic. The data is categorized under Global Database’s Slovakia – Table SK.JA015: Export Volume Index: by Chapters in Harmonised System.

China Trade Index: MoM: Unit Value: Export SITC3: Coin (Other than Gold Coin), not Being Legal Tender data was reported at 83.500 Average 12 Mths PY=100 in Oct 2024. This records a decrease from the previous number of 84.302 Average 12 Mths PY=100 for Sep 2024. China Trade Index: MoM: Unit Value: Export SITC3: Coin (Other than Gold Coin), not Being Legal Tender data is updated monthly, averaging 111.782 Average 12 Mths PY=100 from Jan 2018 (Median) to Oct 2024, with 40 observations. The data reached an all-time high of 179.900 Average 12 Mths PY=100 in Feb 2023 and a record low of 50.200 Average 12 Mths PY=100 in Oct 2023. China Trade Index: MoM: Unit Value: Export SITC3: Coin (Other than Gold Coin), not Being Legal Tender data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JE: Unit Value Index: MoM: SITC3 Classification.

Bitcoin's annualized footprint in electricity consumption reached an all-time high in early 2022, then believed to be higher than the power consumption of Finland. This is according to a source that tries to estimate the energy consumption of Bitcoin (BTC). It does by assuming that miner's costs and income are the same thing: The higher the miner's income, the more powerful machinery it can support. By 2025, Bitcoin's energy consumption fell in between the consumption of Australia or the Netherlands. Note, however, there is no central authority where cryptominers report their figures to. Exponential growth As Bitcoin has a maximum supply, the closer the cryptocurrency gets to its limit of 21 million coins, the more effort it takes to mine. Not every cryptocurrency has a maximum supply. Bitcoin, however, stands out as more than 90 percent of all its coins have already been created. This exponential growth cycle indirectly impacts the overall size of the blockchain as well, as it currently grows less fast than it did several years ago. Which countries mine Bitcoin the most? According to the latest available estimates, the United States had a higher Bitcoin mining hashrate than China. This research - using IP addresses from hashers accessing certain Bitcoin mining pools, a method the source admits can lead to issues - was last held in 2022, however. It is generally assumed that the different electricity prices worldwide may impact the decision on where to mine for Bitcoin.

Bitcoin is edging closer to reaching its finite, maximum supply, pushing its price up and making it harder to mine. As a rule of thumb, the fewer coins available to the general audience, the higher the value of the cryptocurrency becomes. No more mining is possible when a cryptocurrency reaches its maximum supply. The market price then reflects supply and demand. Bitcoin has a set limit of 21 million coins, the last of which is to be mined around the year 2140 according to a 2017 forecast - with the assumption that the rate of Bitcoin mining halves every four years.

Why are there so many differences in crypto supply?

Cryptocurrency developers can determine whether a coin should have a fixed limit, depending on the blockchain it utilizes or monetary strategies. Ethereum has no maximum supply, meaning miners can create and indefinitely extract this cryptocurrency. This is called an inflationary cryptocurrency, one that continuously inflates the supply. The idea is that the number of tokens in circulation keeps outpacing demand, decreasing overall value. Some coins limit the release of their (indefinite) supply or even destroy (burn) tokens. Such deflationary events took place with LUNA in 2022.

The appeal of low-supply cryptocurrency for investors

Crypto investors tend to be on the lookout for crypto with limited supply, ideally with low levels. After a token reaches maximum supply, the argument goes, the coin's supply becomes static - miners can no longer create new coins. The demand should continue to grow. A maximum cap, they hope, guarantees value gains. Not many such coins exist. DeFi platform AAVE is an example of a cryptocurrency with a max supply smaller than 100 million.

The price of the native coin from BNB Chain (formerly BSC) grew by 50 percent in late 2021 but was much lower in 2022. In March 25, 2025, for example, a single BNB coin was worth more than 629.94 U.S. dollars - a value that very different to the all-time high of 600 U.S. dollars in November 2021. Regardless, Binance Coin ranked in the top 10 most expensive cryptocurrencies in 2022. Noticeable is that the price increase of BNB in November 2021 coincides with a similar price change for Ethereum (ETH) - a cryptocurrency where BNB initially originated in 2017 before coming on its own years later.BNB's history: From reward token in 2017 to an ecosystem after 2019As the name suggests, Binance Coin or BNB originally started as an extension of the Binance.com trading platform - the most used cryptocurrency exchange in the world. It initially functioned on the Ethereum blockchain network as an ERC-20 token, offering incentives to owners like reduced trading fees, affiliate rewards, or a lottery ticket system ('Launchpad') that let users invest in new, Binance-selected crypto projects. In 2019, however, BNB moved away from the Ethereum network and migrated to Binance's self-developed blockchain: Binance Smart Chain or BSC (called BNB Chain since February 2022). Here, BNB started to support a chain that initially did not focus on hosting decentralized apps but focused on high transaction speed and being able to handle large amounts of traffic.DeFi and GameFi: the main segments for BNBBSC, however, made significant strides in 2021 partly due to traffic overload and high gas prices on Ethereum as well as the growing interest in both Decentralized Finance (DeFI) and NFTs. Much like Cardano, Solana, and Terra, Binance Smart Chain consequently became a valid alternative to Ethereum: The total value locked (TVL) of BNBs blockchain within DeFi, for example, ranked only behind that of Terra and Ethereum in early 2022. Another area where Binance's blockchain and token play a significant role is that of GameFi - or 'play-to-earn' blockchain games that are powered by cryptocurrencies. Some of the more well-known and most popular NFT games like Alien Worlds and Axie Infinity run on the blockchain behind BNB.

It is estimated that the cumulative market cap of cryptocurrencies increased in early 2023 after the downfall in November 2022 due to FTX. That value declined in the summer of 2023, however, as international uncertainty grew over a potential recession. Bitcoin's market cap made up the majority of the overall market capitalization.

What is market cap?

Market capitalization is a financial measure typically used for publicly traded firms, computed by multiplying the share price by the number of outstanding shares. However, cryptocurrency analysts calculate it as the price of the virtual currencies times the number of coins in the market. This gives cryptocurrency investors an idea of the overall market size, and watching the evolution of the measure tells how much money is flowing in or out of each cryptocurrency.

Cryptocurrency as an investment

The price of Bitcoin has been erratic, and most other cryptocurrencies follow its larger price swings. This volatility attracts investors who hope to buy when the price is low and sell at its peak, turning a profit. However, this does little for price stability. As such, few firms accept payment in cryptocurrencies.

China EVI: SITC: Mfg: TU: non Official Coin, excl Gold coin data was reported at 17,337.000 Prev Year=100 in Feb 2018. This records an increase from the previous number of 75.300 Prev Year=100 for Oct 2008. China EVI: SITC: Mfg: TU: non Official Coin, excl Gold coin data is updated monthly, averaging 108.200 Prev Year=100 from Feb 2005 (Median) to Feb 2018, with 23 observations. The data reached an all-time high of 17,337.000 Prev Year=100 in Feb 2018 and a record low of 0.500 Prev Year=100 in Nov 2005. China EVI: SITC: Mfg: TU: non Official Coin, excl Gold coin data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JE: Trade Value Index: SITC Classification.

After several fluctuations in earlier years, the price of Tether or USDT since 2020 achieved the stability against the U.S. dollar that it was designed to reach. In 2021, Tether ranks as one of the biggest cryptocurrencies in the world and is regarded as the most well-known "stablecoin", or cryptocurrency that is connected to the price development of another, real-world asset. As Tether's USDT code suggest, the token is, in this case, connected to the U.S. dollar. This effectively means that a single Tether will nearly always be worth one single U.S. dollar. This relative stability, unlike the price development of, say, Ripple (XRP), is what defines a stablecoin and is especially important for decentralized lending and borrowing. This particular segment made up roughly half of the overall value locked in Decentralized Finance or DeFi.

China EQI: YoY: SITC3: Coin (Other than Gold Coin), not Being Legal Tender data was reported at 56.740 Prev Year=100 in Sep 2024. This records a decrease from the previous number of 840.400 Prev Year=100 for Feb 2024. China EQI: YoY: SITC3: Coin (Other than Gold Coin), not Being Legal Tender data is updated monthly, averaging 133.612 Prev Year=100 from Feb 2018 (Median) to Sep 2024, with 28 observations. The data reached an all-time high of 18,438.690 Prev Year=100 in Feb 2018 and a record low of 1.108 Prev Year=100 in Feb 2019. China EQI: YoY: SITC3: Coin (Other than Gold Coin), not Being Legal Tender data remains active status in CEIC and is reported by General Administration of Customs. The data is categorized under China Premium Database’s International Trade – Table CN.JE: Quantum Index: YoY: SITC3 Classification.

United States Import Price Index: CG: NU: DU: Coins,Gems, Jewelry& Collectible(CO) data was reported at 307.000 2000=100 in Jan 2025. This records a decrease from the previous number of 308.000 2000=100 for Dec 2024. United States Import Price Index: CG: NU: DU: Coins,Gems, Jewelry& Collectible(CO) data is updated monthly, averaging 167.450 2000=100 from Dec 1984 (Median) to Jan 2025, with 410 observations. The data reached an all-time high of 311.500 2000=100 in Nov 2024 and a record low of 64.500 2000=100 in Mar 1985. United States Import Price Index: CG: NU: DU: Coins,Gems, Jewelry& Collectible(CO) data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.JA234: Import Price Index: by End Use: 2000=100.

Memecoin Shiba Inu saw its price grow by more than 300 percent within one and the same month, marking a trading fury reminiscent of Dogecoin in early 2021. Indeed, the SHIB coin ranked as one of the biggest crypto in the world based on 24h trading volume in October 2021 - with trading activity being almost as high as that of Ethereum. Originally starting out as a fun token based on the famous Japanese dog breed, the digital currency grabbed mainstream attention in 2021 probably due to its low barrier of entry: Even after its price spikes, Shiba Inu was one of the cheapest coins availalbe, especially when compared to the price of 99 other cryptocurrencies. Combine this with survey information that most consumers in the U.S. and the UK invest in crypto either for growth or fun, and Shiba Inu is probably seen by many as a relatively simple, "quick win" investment.