Number Of Individuals Owning Cryptocurrencies Increased By 39% In 2022: Crypto.com Report

A recent report by Crypto.com shows a 39% increase in global cryptocurrency holders from 2021 to 2022, with a total of 425 million holders at the end of 2022 compared to 306 million at the end of 2021. This is a positive trend for the industry, despite a bearish overall market in 2022. The growth rate was particularly high in August and September, at 5% and 8.1%.

The ownership of Bitcoin (BTC) saw a 20% increase from 183 million in January to 219 million in December, and BTC was the most widely held cryptocurrency, making up 52% of all global crypto owners. Furthermore, the legalization of Bitcoin (BTC) as a legal tender by the Central African Republic in April led to the most significant growth in BTC ownership.

Ethereum (ETH) ownership experienced a significant increase of 263% from 24 million in January to 87 million in December. ETH holders constitute 20% of all global cryptocurrency holders. The report also notes that Ethereum’s monthly growth rates were higher than Bitcoin’s, except in April. Furthermore, the surge in ETH ownership in May 2022 was likely driven by the growing interest in NFTs.

The report highlights that the primary driver of Ethereum’s growth was the “merge” which refers to the transition of Ethereum from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) system. This was a significant milestone for the project, but the event was met with a “sell the news” reaction. Ethereum’s adoption was further boosted by the increased interest from institutional investors and the widespread use of liquid ETH staking.

Despite a bearish year in terms of monetary growth, the study by Crypto.com indicates that cryptocurrency adoption is on the rise. Furthermore, the industry is expected to experience continued growth in the coming years.

Crypto.com Enters An 8-year Commitment To Neutralize Its Carbon Emissions

Crypto.com has recently signed an eight-year agreement with Climeworks, a Swiss company known for its carbon capture technology, to neutralize its direct emissions. Other major firms such as Microsoft, Stripe, and Shopify have also partnered with Climeworks to offset their carbon emissions.