Crypto Adoption Soars 6.4% in H1’24, Driven by Bitcoin and Ethereum Milestones
- The global cryptocurrency market saw a 6.4% rise in ownership to 617 million by June 2024.
- Bitcoin ownership increased by 5.9% to 314 million, fueled by the launch of spot ETFs and the fourth halving event.
- Ethereum adoption surged 9.7%, reaching 136 million owners, thanks to the Dencun upgrade and rising DeFi activity.
- Institutional investment in Bitcoin and Ethereum significantly contributed to the market’s growth.
One standout insight is Ethereum’s Layer-2 networks now handling 90% of all transactions post-Dencun upgrade, up from 77%, highlighting the network’s improved scalability and reduced fees.
Despite strong growth, current macroeconomic and geopolitical challenges have kept BTC and ETH prices below their all-time highs. However, with ongoing institutional interest and technological advancements, the future of crypto adoption remains promising.
