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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Cryptocurrencies have reached a historical maximum of users

October, 17 2024
watermark Economic news

Cryptocurrencies are experiencing a real boom, reaching new heights of popularity. Blockchain coins have become a key political issue ahead of the upcoming US elections. At the same time, improvements in the infrastructure of the cryptocurrency market have led to a significant increase in bandwidth and a decrease in transaction costs.


Also, the number of monthly users of mobile cryptocurrency wallets reached a record 29 million in June 2024. Although the United States is still the leader in the number of users, their share in the total number of crypto wallet owners is decreasing as cryptocurrencies gain popularity around the world.


It is worth noting the countries where cryptocurrencies are rapidly gaining momentum: in Nigeria, India and Argentina. There has been an increase in the number of users of mobile wallets, due to the desire for regulatory clarity, a rapidly growing population, the introduction of mobile technologies and the desire to protect savings from inflation.


According to preliminary estimates, the number of active cryptocurrency users in the world ranges from 30 to 60 million people per month, which corresponds to only 5-10% of the total number of cryptocurrency owners (617 million in June 2024).


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.