Crypto Market Statistics in 2024

In the past decade, cryptocurrencies have captured the attention of traders worldwide. Despite the significant crash of the FTX cryptocurrency exchange in 2022, many cryptocurrencies continue to show profitability. With an increasing number of private traders and large corporations taking interest in cryptocurrencies, it is expected that cryptocurrencies will maintain their position in financial markets in the coming years.

To help you understand the scale of cryptocurrency growth, TradingWebsite publishes the latest statistics on the cryptocurrency market for 2024.

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Key Cryptocurrency Statistics:

In 2019, the value of the global cryptocurrency market was approximately $792.53 billion. It is projected to surpass $5.1 trillion by 2026.
From March 2020 to February 2021, the value of cryptocurrency markets grew by 900%.
The total trading volume between cryptocurrency exchanges was estimated to be around $51.6 billion in 2019.
In 2020, the total global cryptocurrency transaction volume increased by 78% compared to 2019, reaching $91.8 billion.
The global blockchain technology market, which enables the distribution of cryptocurrencies, is expected to reach $39.7 billion by 2025.
60% of the value of blockchain technology is concentrated in the financial sector.

Cryptocurrencies in Different Countries:

Europe is considered a leader in the crypto industry. In 2019, the trading volume of cryptocurrencies in European countries exceeded $400 million.
Bitcoin is the most popular cryptocurrency globally. In 2019, Bitcoin accounted for over 40% of cryptocurrency transactions, with a total volume of approximately $300 million. Other popular cryptocurrencies with significant market shares include Ethereum, Ripple, Litecoin, and Dashcoin.
The cryptocurrency market is mainly divided into the banking sector, real estate, stock market, and virtual currency. The stock market and virtual currency sectors led the cryptocurrency market with transaction volumes exceeding $500 million in 2019.
Software components hold the largest share of the cryptocurrency market, accounting for around 70%.
In terms of processes, the mining segment holds 65%, while transactions account for the remaining 35%.

Cryptocurrency Statistics by Countries and Regions:

In 2019, the cryptocurrency market volume in North America reached $250.9 million. The growing popularity of Bitcoin and other cryptocurrencies in the United States contributes to market growth in the region.
In 2020, the largest number of cryptocurrency exchanges were registered in the United Kingdom (57 exchanges), Singapore (37 exchanges), the United States (31 exchanges), and Hong Kong (27 exchanges).
The lowest number of exchanges in 2020 was registered in Mexico (5 exchanges), Argentina (4 exchanges), Indonesia (3 exchanges), and Russia (2 exchanges).
16% of all cryptocurrency exchanges either do not specify their country of registration or do not publicly disclose information about themselves.
In 2020, the G20 countries accounted for 38% of all cryptocurrency transactions.
In 2013, the G20 countries registered 91% of all cryptocurrency exchanges.
In 2020, the volume of cryptocurrency transactions in G20 countries decreased by 38%.

Countries with the Highest Cryptocurrency Mining Activity:

China leads the world in cryptocurrency mining. China accounts for 65% of the total global Bitcoin hashrate, which represents the computing power connected to the Bitcoin network and responsible for mining Bitcoin.
The majority of the hashrate is generated in the Chinese region of Xinjiang, which contributes 35.76% to the overall global hashrate.
Sichuan province in China ranks second in cryptocurrency mining with a share of 9.66% of the global hashrate. Inner Mongolia, another Chinese region, holds the third position with 8.07%, followed by Yunnan (5.42%) and Beijing (1.73%).
China’s hashrate exceeds the US hashrate by a factor of nine. The United States accounts for only 7.24% of the global hashrate.
Russia accounts for 6.9% of the global hashrate, while Kazakhstan’s share is 6.17%. Malaysia and Iran rank fifth and sixth in hashrate with 4.33% and 3.82%, respectively. The rest of the world produces the remaining 6% of the global hashrate.

Overall Cryptocurrency Market Value:

Bitcoin remains the most popular cryptocurrency to date, but there are thousands of other cryptocurrencies in the world.

According to CoinMarketCap data from January 2021, there were 7,812 cryptocurrencies with a total market value of $324.716 billion. Coinlore provides a different figure, stating that there are 6,241 cryptocurrencies worldwide.
In 2021, the total market value of the top 100 cryptocurrencies was at least $100 million. Over 5,000 other cryptocurrencies were valued below $10 million.
In 2020, the market capitalization of all cryptocurrencies combined was $758.06 billion.

The Most Expensive Cryptocurrencies in the World:

In November 2022, the top 5 most expensive cryptocurrencies were Bitcoin (BTC) priced at $16,517, Ethereum (ETH) at $1,195, Binance Coin (BNB) at $298, Monero (XMR) at $135, and Bitcoin Cash (BCH) at $115.
Bitcoin remains the most valuable cryptocurrency in the world, with a market capitalization share of 66% in 2020. For comparison, Ethereum (ETH) holds only 8% of the market capitalization.
Binance is the largest cryptocurrency exchange globally, with a daily trading volume of around $28.85 billion in 2021. It is followed by HBTC with $14.44 billion daily and Hydax Exchange with $12.19 billion daily.
On March 28, 2021, there were over 3.5 million transactions involving Stellar (XLM), over 1.2 million transactions with Ethereum (ETH), around 1 million transactions with Ripple (XRP), and over 371,000 transactions with Bitcoin Cash (BCH).

Bitcoin Statistics Throughout its History:

In March 2021, there were approximately 18.67 million bitcoins in circulation.
Bitcoin remained above $15,000 during the period of 2019-2020.
Bitcoin surpassed the $60,000 mark after Tesla invested $1.5 billion in the cryptocurrency.
According to analysts, Tesla earned around $1 billion in profit from its Bitcoin investment.
The market capitalization of Bitcoin reached an all-time high of $1.072 trillion in February 2021, around the same time Tesla invested in Bitcoin.
In February 2021, the price of Bitcoin increased fivefold from $10,000 to $50,000.
The average daily number of Bitcoin transactions ranges from 200,000 to 300,000. In March 2021, the highest number of transactions was registered at 34,661.
Bitcoin is most popular in the United States. In December 2020, the trading volume of BTC in the US exceeded $1.5 billion. In Russia, during the same period, the volume of Bitcoin transactions was only $421 million.
As of January 2021, there were approximately 14,000 Bitcoin ATMs worldwide.
Bitcoin mining consumes approximately 1% of global electricity consumption.
In 2020, the international Bitcoin network consumed around 120 gigawatts of electricity per second.
It takes about 10 minutes to mine one Bitcoin, regardless of the size of the mining network or the energy consumed by miners.

Statistics of Other Popular Cryptocurrencies:

On November 25, 2022, the price of Ethereum (ETH) was $1,195, with a market capitalization of $146 billion.
The price of Litecoin (LTC) on March 25, 2022, was $76.65, with a market capitalization of $5.4 billion.
Dogecoin, which saw a sharp increase in price in January 2021 after comments from Tesla CEO Elon Musk, was valued at $0.0886 on November 25, 2022.

Cryptocurrency User Statistics:

In the third quarter of 2020, there were 101 million identified cryptocurrency users worldwide, meaning individuals whose identities were verified.
In Nigeria, 31.9% of the population used or owned cryptocurrencies, making it the country with the highest percentage of cryptocurrency users. Vietnam ranked second with 21.1%, followed by the Philippines (19.8%), South Africa (17.8%), and Thailand (17.6%).
The majority of companies providing cryptocurrency services are located in Latin America and the Caribbean (82%), the Asia-Pacific region (75%), the Middle East and Africa (75%), North America (70%), and Europe (75%).
66% of Americans claim they have not invested in cryptocurrency, with 18% stating they have not even heard of cryptocurrencies. Only 7% say they plan to invest in cryptocurrencies.
Among American cryptocurrency investors, 5% enjoy crypto trading, while 4% did not enjoy trading cryptocurrencies.
In the United States, men (19%) are more likely to use cryptocurrencies compared to women (10%).
85% of Bitcoin traders and 88% of Ethereum traders are men.
55% of Americans aged 18-34 are more likely to buy Bitcoin in the next five years. Among Americans aged 35-44, 46% are willing to invest in cryptocurrencies, and 36% of those aged 45-54 are interested in trading cryptocurrencies.

Blockchain and Cryptocurrency Wallet Statistics:

There are approximately 70 million users of blockchain wallets worldwide.
33% of all organizations worldwide use blockchain technology, primarily for managing digital currencies.
In December 2020, the top 10 cryptocurrency wallet applications were downloaded by over 5.6 million people worldwide.
In the United States, Coinbase is the most commonly registered cryptocurrency wallet exchange. In January 2021, Coinbase had more than 639,000 daily active users (DAU).

Cryptocurrency mining hijacking (unauthorized use of devices for cryptocurrency mining) is one of the major cybercrime threats. The cost of cryptocurrency theft in 2020 amounted to $513 million, compared to $370.7 million stolen worldwide in 2019.
The overall damage caused by cryptocurrency-related cybercrimes, including thefts, fraud, and hacks, reached $1.9 billion in 2020.
According to Insights, two hacker groups were responsible for approximately 60% of all registered cryptocurrency thefts, amounting to over $1 billion.
50 to 80% of initial coin offerings (ICOs) were initially conceived and created as fraudulent crypto projects, as most organizers believed their projects would be impossible to realize.
In 2020, decentralized finance (DeFi)-related hacks and frauds accounted for 50% of all cryptocurrency thefts, totaling $129 million.
In 2020, approximately $41.2 million obtained from Bitcoin exchanges in the United States was redirected to scammers.
In 2020, more than $3.5 billion was sent to fraudulent Bitcoin wallets.

Statistics on the Decline of Cryptocurrency Crimes:

Only 1.1% of all cryptocurrency transactions are illegal.
Less than 0.5% of Bitcoin transactions per year are illegal.
Cryptocurrency-related crime decreased from $4.5 billion in 2019 to $1.9 billion in 2020 (due to the increasing number of legitimate cryptocurrency activities).
In 2020, the cryptocurrency exchange KuCoin was able to recover over 80% of the stolen funds amounting to $281 million after a hack.

When will cryptocurrency become stable?

Considering the statistics on cryptocurrencies worldwide, the answer seems evident: cryptocurrencies are still not stable as a form of money. While bankruptcies of major crypto exchanges and frequent cybercrimes tarnish the reputation of cryptocurrencies, the development of digital technologies and regulation by governments help cryptocurrencies stay afloat. For example, the advancement of blockchain technology will continue to aid in tracking cryptocurrency-related transactions, leading to a gradual reduction in illegal usage or theft. Additionally, stricter regulations imposed by governments, including taxes on cryptocurrencies, can decrease the number of illicit transactions.

Despite the challenges, cryptocurrencies will continue to grow in the near future. This is evidenced by numerous cases where more well-known individuals show interest in cryptocurrencies, and more companies accept cryptocurrencies as payment for goods and services.

What is cryptocurrency?

Cryptocurrency is a digital currency that uses encryption to secure transactions and regulate the creation of new units. Unlike traditional currencies, it is decentralized, meaning it is not controlled by a central authority such as a government or financial institution. Instead, it operates on a decentralized network known as the blockchain.

The blockchain is a distributed ledger that records all transactions in a transparent and immutable manner. This means that every transaction is recorded and verified by the network, making it virtually impossible to alter or tamper with the records. This level of security makes cryptocurrencies an attractive option for users who value privacy and security.

Some key characteristics of cryptocurrencies include:

Decentralization — Cryptocurrencies operate independently of any centralized authority.
Security — Transactions are secured by encryption, making them difficult to hack or alter.
Transparency — All transactions are recorded on a public ledger, ensuring transparency and accountability.
Global accessibility — Cryptocurrencies can be transferred and received anywhere in the world, eliminating the need for intermediaries.Anonymity: Transactions using cryptocurrency can be anonymous if you do not use a service that requires identity verification.

There are many types of cryptocurrencies available, each with its unique features. Bitcoin is the most well-known and widely used cryptocurrency. Ethereum is a platform for developing decentralized applications (DApps) in addition to being a cryptocurrency. Litecoin is similar to Bitcoin but has faster transaction speeds. Tezer is a stablecoin pegged to the US dollar.

It’s important to note that cryptocurrency prices can fluctuate significantly, making them a high-risk investment. Before investing, it’s essential to do your research and understand the potential risks involved.

Data sources: Statista, Blockchain.com, Medium The Balance, Insights CipherTrace, Coin ATM Radar, Coindesk, CoinGecko, CoinMarketCap, Crystal, Deloitte, GlobeNewswire, Facts & Factors, Fortune Business Insights, Bitcoin.com, CNBC, Knoema, Finder, Investopedia, Bloomberg, TradingView, E-Crypto News.