Crypto.com Report: The number of global cryptocurrency holders increased to 617 million in the first half of the year

ChainCatcher news, Crypto.com's latest market size report shows that the number of global cryptocurrency holders has significantly increased in the first half of 2024. As of June, the total number of holders grew by 6.4% from 580 million at the end of 2023 to 617 million. Bitcoin (BTC) holders increased by 5.9% to 314 million, accounting for 51% of total holders; Ethereum (ETH) holders grew by 9.7% to 136 million, making up 22%.

The growth is primarily driven by key developments in the BTC and ETH ecosystems, particularly the launch of spot ETFs related to these two digital assets.

The launch of the U.S. spot Bitcoin ETF and the fourth halving event in April are the main drivers of BTC adoption growth. The increase in ETH is mainly attributed to the Dencun upgrade in March, which significantly reduced Layer-2 network transaction fees and improved scalability.

Institutional investors played a crucial role in this growth, with over $14 billion in inflows into the U.S. spot Bitcoin ETF as of the end of June. Despite significant growth in the first half of the year, the market faces challenges in breaking historical highs due to macroeconomic pressures and worsening geopolitical situations in the Middle East.