TechFlow news, according to the latest market size report from Crypto.com, the number of global cryptocurrency holders significantly increased in the first half of 2024. As of June, the total number of holders rose 6.4% from 580 million at the end of 2023 to 617 million. Bitcoin (BTC) holders grew by 5.9% to 314 million, accounting for 51% of all holders; Ethereum (ETH) holders increased by 9.7% to 136 million, representing 22%.
This growth was primarily driven by key developments within the BTC and ETH ecosystems, particularly the launch of spot ETFs linked to these two digital assets.
The launch of U.S. spot Bitcoin ETFs and the fourth halving event in April were major drivers behind increased BTC adoption. ETH growth was largely fueled by the Dencun upgrade in March, which significantly reduced transaction fees on Layer-2 networks and improved scalability.
Institutional investors played a crucial role in this expansion, with U.S. spot Bitcoin ETFs attracting over $14 billion in inflows by the end of June. Despite strong growth during the first half, the market recently faces challenges in breaking past historical highs due to macroeconomic pressures and worsening geopolitical tensions in the Middle East.
