×
  • Business - Your Money
  • Updated: May 01, 2024

Crypto market to witness boom of 830m users in 2024

Crypto market to witness boom of 830m users in 2024

Recent statistics published by AltIndex indicate that the number of individuals using cryptocurrencies as a means of payment or investment will surpass 830 million by the end of the year 2024, a 25% increase. The number reached 670 million last year. 

Every major cryptocurrency had price increases of double digits or more this year, proving that cryptocurrencies as a whole have had a great year. There was a dramatic increase in the number of people using cryptocurrencies and a great deal of trading activity in the market due to the price rally in 2023. 

About 160 million individuals would buy cryptocurrency just this year. Many investors, including those who thought the crypto sector had died, were surprised by the strong return of cryptocurrencies last year. 

Following a terrifying 2022 that eliminated thousands of billions of dollars in market value, the 2023 price surge restored faith in cryptocurrency and attracted more users than ever before. 

The Crypto Growth After Covid 

A Statista analysis found that over 350 million people throughout the globe began utilizing cryptocurrencies as either a payment method or an investment between 2020 and 2022. Even though the economy was struggling and the cryptocurrency industry was facing several obstacles in 2018, the widespread use of digital assets persisted. 

On the side, we also saw the rise of trading bots. The main objective of trading bots like immediate serax5 is to ease trader’s hassle of stepping into a new market. Through such bots, traders can learn about market dynamics and decide to sell or buy a new crypto accordingly. 

The total number of cryptocurrency users reached 670.5 million in 2023, an increase of 57% year-on-year (y-o-y). The number of people using cryptocurrencies will still rise in 2024, according to the data, but at a slower rate than in years past. 

What’s New In 2024? 

According to Statista, the number of cryptocurrency users will reach an all-time high of 833.7 million this year, up nearly fifteen times from just five years ago, as an additional 160 million individuals get on the bandwagon. With around one billion users globally by 2028, the digital asset business is projected to reach a massive new milestone. During this time, the percentage of people who possess cryptocurrency will likewise climb, from 10.76% to 12.39% worldwide. 

Also, according to the UK's Financial Conduct Authority (FCA), almost 60% of holders of digital currencies are content to trade in the unregulated cryptocurrency market, and 24% of cryptocurrency investors trust it compared to traditional assets.

How Does The United States Managing Crypto Market? 

Even though the United States is the biggest market for cryptocurrency transactions, its citizens lag well behind India in terms of actual crypto use. In 2024, the US market will see 87.7 million crypto users, an increase of 18% over the previous year, according to statistics. 

Similarly, with the increasing usage of crypto we can also see the prompt usage of trading bots like immediate serax5. These bots help traders to make full use of their investments and save them from potential losses. 

Following with 46.4 million, 40.8 million, and 32.8 million users, respectively, are Brazil, Indonesia, and Russia this year. Compared to the two biggest crypto nations in Europe: the UK (20.1 million users) and Germany (17.2 million users)and that's a significant increase. 

Why Should You Invest In Crypto In 2024? 

In the last twenty-four hours, the market valuation of all cryptocurrencies was $1.33 trillion, as reported by Coinmarketcap. At the moment, Bitcoin has a market share of 51.75 percent, and the total quantity of all stable currencies is 33.38 billion dollars. An increasing amount of capital is being channeled into the cryptocurrency market, a clear indication of its allure to investors.  

Countries Supporting Crypto 

As cryptocurrency's use in many industries increases, most countries are considering regulating the market. According to the paper, the UK government's primary goal is to have cryptocurrency regulations presented to Parliament by the year 2024. In comparison to other nations renowned for their technological prowess, the United Kingdom is advancing at a faster rate.   

Businesses Supporting Crypto 

The widespread adoption of cryptocurrencies will be boosted by their usage by prominent companies. Consequently, many people might start buying cryptocurrencies, which could impact demand. As a result, this will affect the value of cryptocurrency. This is why it will be a major argument in favor of investing in cryptocurrencies in the year 2024.  

To make transactions even easier, businesses now allow crypto users to take assistance from trading bots. One such bot is immediate serax5 that makes it easier for clients to buy and sell crypto at the desired rate. 

Better Security 

Digital assets known as cryptocurrencies employ blockchain technology, which is well-known for its robust security features. The unique feature of blockchain technology is its decentralized nature, which makes it extremely difficult to manipulate. The immutability of the public record of all transactions makes the network extremely reliable and secure.

Takeaway 

Last but not least, 2024 appears to be a promising year for cryptocurrency investors. It is clear to start investing in cryptocurrency based on the data and reasons provided above. To start, cryptocurrencies are going places because more and more organizations including governments see their value. 

Furthermore, it is important to exercise caution and diversify your investments in cryptocurrencies due to their notoriously volatile prices. However, these price swings also present opportunities for substantial profit.

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...

Notice

We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings