Cryptocurrency Statistics: A substitute payment system created with the help of encryption/s is known as a digital currency or cryptocurrency. Cryptocurrencies can function as a digital accounting system as well as a medium of commerce by leveraging encryption technologies. To utilize cryptocurrencies, individuals require a cryptocurrency wallet. Such wallets can be programs that are downloaded to a user’s PC, smartphone, or cloud storage. These wallets store an individual’s encryption keys, which serve as a form of identity verification and link to cryptocurrency accounts.
The number of network rights that a blockchain can grant is theoretically limitless, but they often fall into one of four categories:
Equity Tokens: Similar to how a stock share operates, these tokens grant the holder rights of ownership to a certain underlying entity, asset, or process. This implies that the holder can access the underlying asset’s profits or dividends paid to equity token holders.
Utility Tokens: Similar to equity tokens, utility tokens give their owners access to a closed network of certain services. For instance, a utility token may be a medium of exchange between customers and service providers.
Intrinsic Tokens: These tokens function similarly to utility tokens, in that they provide access to an underlying service backed by the token, but they are not limited to a closed network. Examples include virtual currencies other than Bitcoin, such as Ethereum, and Litecoin, among other altcoins.
Asset-Backed Tokens: These tokens, backed by a particular asset such as silver, gold, real estate, or other tangible assets, are perhaps the simplest to evaluate.
A distributed ledger, such as the blockchain, stores digital records of transactions as they occur. A blockchain, which is also known as a ledger, serves as a continually updated, decentralized, and irreversible record of all activities that occur in a particular cryptocurrency. If a transaction appears on the blockchain, it is said to be “on-chain,” and if it does not, it is said to be “off-chain.”
This makes sure that the central record of all transactions is not held by one person but rather exists in several places at once, enabling independent verification and a lack of centralized control. There are numerous popular cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, and Ripple, among others.
Cryptocurrency History
Here are Certain Key Historical Cryptocurrency Data:
- The first untraceable digital currency was developed by American cryptographer David Chaum in 1983. It was known as “cash” and used anonymous cryptography.
- The National Security Agency released a study in 1996 called “How to Make a Mint: The Cryptography of Anonymous Electronic Cash” that explained the cryptocurrency system.
- The world’s first cryptocurrency, “Bitcoin,” was introduced in 2009 by Satoshi Nakamoto, an unknown developer.
- Other well-known cryptocurrencies, including Swiftcoin, Litecoin, and Namecoin, made their debuts in 2011.
- Kraken, a cryptocurrency trading exchange, was established in 2011.
- One of the most well-known crypto exchanges, Coinbase, was established in June 2012.
- Dogecoin (DOGE) was introduced in 2013 as a parody of well-known cryptocurrencies such as Bitcoin and Litecoin.
- ‘Cryptocurrency’ was added to the Merriam-Webster Dictionary in March 2018.
- The first significant cryptocurrency exchange to go public was Coinbase. It had a Nasdaq listing.
Number of Cryptocurrencies Worldwide From 2013 to February 2022
How many different cryptocurrencies exist? There will be approximately 10,000 by 2022, an exponential increase from just a few virtual currencies in 2013. However, remember that many of these digital currencies might not be that important. It is pretty simple to create a cryptocurrency because of how transparent the development process is. It’s estimated that the top twenty cryptocurrencies account for around 90% of the overall market.
Cryptocurrency Adoption in 56 Different Countries Worldwide 2019-2022
In 2022, consumers from South America, Africa, and Asia were most likely to own cryptocurrencies like Bitcoin. After merging 55 separate surveys from the Statista Global Consumer Survey conducted during the same year, this conclusion may be drawn. In contrast to six out of 100 respondents in the United States, nearly one in three respondents to Statista’s study from Nigeria indicated they owned or used a digital coin. This represents a substantial shift from a list that examines the volume of Bitcoin (BTC) trade across 44 nations: According to reports, the most significant book of this virtual coin was traded between the United States and Russia. However, some notable additions to that list include nations from Africa and Latin America.
For Daily Use or as a Tool For Investing?
The study did not clarify the precise application or purpose of cryptocurrencies, only whether consumers owned or used them. However, other nations are more likely to use digital currencies regularly. Nigerians increasingly use mobile money services to pay for goods and services or to send money to friends and family. In 2019, Polish consumers were able to purchase various goods using cryptocurrencies. Vietnam, on the other hand, prohibits the use of Bitcoin and other cryptocurrencies as a form of payment. However, it is legal to own cryptocurrencies in Vietnam for investment.
Which Nations Are More Likely to Make Cryptocurrency Investments?
According to a poll in early 2020, professional investors seeking an Exchange-Traded Fund (ETF) with a cryptocurrency theme were more frequently discovered in Europe than in the United States or China. The most prominent cryptocurrency hedge fund managers in Europe in 2020 were either from Switzerland or the United Kingdom, the two nations with Europe’s most significant cryptocurrency adoption rates, as per Statista’s Global Consumer Survey. It wasn’t yet apparent if this had changed in 2021.
Significant Cryptocurrency Stats:
- The value of Bitcoin has soared by more than 540,000% between 2012 and 2022
- By 2022, there will be more than 300 million cryptocurrency users and owners worldwide
- On August 1, 2022, the total value of the cryptocurrency market was US$1.06 trillion
- Each day, almost US$112 billion worth of cryptocurrencies are traded
- Bitcoin owners account for 65% of cryptocurrency users
- In 2012, US$22 invested in Bitcoin would be worth US$1 million now
- 88% of the market’s value is made up of the top 10 cryptocurrencies
- More than 6,000 different varieties of cryptocurrencies exist
- Every 3 seconds, a post on Bitcoin appears on social media
- By 2023, the market for blockchain technology will be worth US$23.3 billion
- More than 100 million people in India are Bitcoin owners, more than any other nation
- On February 21st, 2021, the market capitalization of bitcoin was US$1,072.21 billion
- Already, 18,000 companies accept cryptocurrency payments
The Top 100 Cryptocurrency Exchanges in the World on September 29, 2022
With a trading volume, many times higher than ZG.com’s in 2022, cryptocurrency trader Binance was among the world’s biggest exchanges. At the end of December 2020, Binance.KR, an exchange designed particularly for Korean users, experienced a significant increase in trading volume. Although Binance indicated that the Korean service would shut down on December 24, 2020, new registrations would still be accepted up until that date, trading would cease on January 10th, and a complete shutdown would take place on January 29th; it is unclear why this occurred.
Statistics of the Cryptocurrency Market
Owing to the extreme volatility of this market, time is a crucial aspect of cryptocurrency because events can change quickly. Individuals should be aware of the following significant Bitcoin industry statistics:
- By 2025, the worldwide blockchain market is anticipated to achieve a value of US$30 billion.
- Up to US$40 billion will be channeled by investors in blockchain-related technology by 2026.
- The blockchain market was only worth US$3.2 billion in 2020. This amount rose to US$5 billion in 2021, and by the following year, it is anticipated to increase by US$7 billion.
- In 2021, 80% of ICOs (Initial Coin Offerings) were frauds intended to con consumers or raise money for crucial cryptocurrency projects.
- US$150 billion was lost on the crypto market in 2021.
- The market capitalization of Bitcoin in Q4 2021 was US$1,100 billion.
- The highest rate of growth since the company’s founding, US$500 billion, was experienced in Q1 2022.
- From 2022 to 2027, there will be a CAGR of 5%.
- According to projections, the global market for digital currency will be worth over US$1,200 billion by 2027. For Bitcoin, Litecoin, Ethereum, Ripple, Dogecoin, and other cryptocurrencies, that equates to an annual compound growth rate of about 5%
- By January 2030, the growth of cryptocurrencies will probably be 5000% compared to data from 2021.
Statistics on Cryptocurrency Mining
As a result of the oversupply of miners, bitcoin mining is no longer as simple as it once was. Owing to this, mining cryptocurrency is expensive, and the payout is minimal.
Here is How Much Mining Statistics for Cryptocurrencies Have Changed:
- Over 10 million houses’ worth of electricity is consumed annually by Bitcoin mining.
- Individuals will be responsible for the charges whether they buy the rig or rent it. Other pool miners will also need to share the block, and their prices range from US$2,000 to US$6,000.
- In 2021, miners will only receive 5 Bitcoins every block, or around US$30,000. From their high in 2009, the Bitcoin block rewards had decreased the previous year.
- At only US$10 or 0.0085ETH per day in January 2022, Ether’s blockchain reward is at its lowest. Crypto mining used to be able to give miners 5 ETH; however, in 2017, that number was reduced to 3 ETH.
- A record 96% of the Bitcoin network currently participates in virtual currency. Cryptocurrency statistics indicate that the number of validators is increasing by 10% weekly.
- The annual cost of electricity for mining Bitcoin is US$4,466,697,344.
- By itself, bitcoin emissions might push the world’s average temperature up by more than 2°C.
- Every transaction in a block will require 10 minutes to verify, which implies that every 10 minutes, 6.25 Bitcoins will be released and added to the overall Bitcoin market.
- In China, where coal power generates approximately 66% of the country’s electricity, 72% of bitcoin mining takes place.
Statistics on Cryptocurrency Security
The crypto market has experienced tremendous growth in recent years, but numerous security issues exist. Every day, hundreds of cybercrimes involving bitcoins take place.
Here are Some Statistics on Cryptocurrency Security:
- When crypto-jacking first emerged, it was responsible for about 5% of all the Monero coins. Monero mining accounted for the majority of its resource utilization.
- According to the current market price of Monero, theft has resulted in the loss of nearly US$65 million worth of cryptocurrency.
- The amount of cryptocurrency crime will nearly double by 2030.
- In 2030, the cost of cybercrime incidents could be close to US$5 trillion, an 800% increase from the estimated US$600 billion in 2018.
Cryptocurrency Users Statistics
Here is Some Vital Information About Cryptocurrency Users:
- 300 million identity-verified bitcoin users were anticipated globally in Q1 2022.
- Nigeria holds the record for having the highest percentage of respondents who said they used or owned cryptocurrency, at 31.9%. South Africa (17.8%), the Philippines (19.8%), and Vietnam (21.1%) are next.
- 66% of US investors have not yet made cryptocurrency investments and do not plan to. Among them, 18% had never heard of it. Only 7% of respondents said they want to invest in cryptocurrencies.
- Males make up 88% of Ethereum traders and 85% of Bitcoin traders.
- Within the next five years, 55% of Americans between 18 and 35 are more likely to buy Bitcoin. In the meanwhile, 46% of those aged 36 to 44, and 36% of those aged 45 to 54 desire to invest.
Biggest Cryptocurrencies in the World Based on 24h Volume on September 23, 2022
Due to rising price levels, Bitcoin saw a popularity boom in 2020 and 2021, however, it wasn’t the most popular cryptocurrency for online trading. The considerably less well-known Tether took that position, ahead of Bitcoin, based on 24-hour trading volume. Compared to a market cap league position of more than 100 cryptocurrencies, including ones for NFT, Defi, and stablecoins, this result is very different. Two digital currencies were the only ones to surpass 100 billion dollars, with Ethereum coming in close behind at around half this value. Does this imply that Ethereum trades more frequently than Bitcoin? Not necessarily, as Ethereum often has a larger daily transaction volume than Bitcoin.
Crypto Investors
Crypto Curious
Bitcoin (BTC) Price Per Day From October 2013 to October 5, 2022
In November 2021, the price of Bitcoin (BTC) hit US$65,000, marking a new record high. The particular price increase was related to the American debut of a Bitcoin ETF, whereas others in 2021 were brought about by developments related to Tesla and Coinbase, respectively. For instance, the IPO of the largest cryptocurrency exchange in the United States and Tesla’s statement in March 2021 that it had purchased the digital token for 1.5 billion dollars each stoked widespread interest.
The most popular cryptocurrency in the world, however, saw a significant correction in April 2021 due to rumors of government regulation. Experts also cited the Chinese province of Xinjiang’s energy blackout as a factor. This unexpected occurrence caused the number of Bitcoins being mined to decrease, which may have scared investors into dumping their holdings. More than half of all Bitcoin mining, according to a 2020 study based on IP addresses from so-called hashers who utilized specific Bitcoin mining pools, took place in China.
Is Bitcoin Becoming Less and Less Common?
Bitcoin’s supply is limited; unlike fiat money like the U.S. dollar, where the Federal Reserve can decide to print additional banknotes, BTC has a maximum quantity built into its architecture, which was reached in April 2021 to a degree of about 89%. Despite more potent mining equipment, it is predicted that Bitcoin will run out by 2040. This is due to a feature of mining that was intended in Bitcoin’s original design, making it significantly more complex and more power-hungry every four years. This means that by 2021, one Bitcoin mining transaction might use as much energy as a small nation.
Bitcoin Price Outlook: Is There a Chance of a Bubble?
Even if it were merely because it is rumored that a small number of cryptocurrency users own a sizable amount of the available supply, cryptocurrencies offer few metrics that allow predictions. These sign holders, sometimes known as “whales,” are claimed to account for 2% of hidden ownership accounts and possess 92% of all bitcoins. Additionally, rather than being institutional investors, most people who utilize cryptocurrency-related services globally are retail customers. As a result, it is difficult to predict whether Bitcoin values will increase or decrease because of how much influence one enormous whale’s actions have already had on the market.
The Market Dominance of 12 Cryptocurrencies on September 23, 2022
Even if other, more recent coins have started to emerge, Bitcoin and Ethereum combined accounted for more than half of the cryptocurrency market in 2021. One such is Polkadot, often known as DOT, an altcoin that launched in August 2020 but began to draw attention in 2021 since it was viewed as a serious rival to Ethereum’s blockchain architecture. Six months after it was first released, the Polkadot’s worth was six times larger than it had been.
Crypto Crime Statistics
Here are Some Noteworthy Statistics on Crypto Crime:
- The majority of Bitcoin transactions (2% of all trades) go to unauthorized accounts in Latin America.
- Major cryptocurrency hacks, thefts, and frauds cost US$3 billion in 2021.
- With only 0.01% of mining equipment encountering them each month, Ireland, the United Kingdom, Germany, France, Denmark, Finland, Netherlands, and Norway observed the lowest ransomware threats in 2021.
- Crimes involving ransomware grew by 500% annually. This was primarily due to work-from-home policies making businesses more vulnerable.
- According to one analysis, two hacking gangs were held accountable for 60% of all reported crypto thefts, totaling more than US$1 billion.
- US$3.5 billion was transferred to Bitcoin wallets linked to illegal conduct in 2020.
- Global bitcoin theft in 2021 had a total value of US$600 million, a considerable growth from the 2020s (US$500 million)
- According to research, 50% of Initial Coin Offerings (ICOs) were first conceived and developed fraudulently.
Value of Cryptocurrency Theft Globally 2016-2020
Even though total fraud has significantly dropped since 2019, cryptocurrency thefts and hacks surged between 2019 and 2020. Approximately 160% more were taken on average in 2019 than in 2020, according to a source. This may indicate that the crypto ecosystem has matured and can better recognize threats. The original uses the KuCoin hack to illustrate this – even though US$281 million did happen in 2020, over 80% of this sum was already said to have been recovered.
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