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81 Cryptocurrency Statistics To Know About In 2024

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Even Web3 skeptics can no longer ignore the global cryptocurrency industry. While crypto prices have fallen from their 2021 heights, more banks, VC firms, and prominent investors are getting involved in this sector. With each passing year, it’s getting easier for people to buy and use cryptocurrencies, and innovation in the Web3 space appears to be growing. 

Since crypto is one of the most “hype-driveninvestment classes, getting an objective read on this industry can be challenging. However, there are some facts that can bring clarity to the crypto space. Taking a look at these stats may help investors make informed predictions on the future of crypto assets.

Key Cryptocurrency Statistics

  • Between December 2010 and October 2022, the price of Bitcoin has increased by over 8,867,227%
  • The global cryptocurrency market cap today is $980 billion as of October 2022
  • The total Stablecoins’ market cap is at $147 billion as of October 2022
  • 52% of global institutions already invest in crypto as of 2022
  • There are over 873,000 active Bitcoin addresses as of October 2022
  • There is over 19,190,031.00 BTC in circulation as of October 2022
  • There are over 20,000 total cryptocurrencies in existence as of October 2022
  • The total volume in DeFi is currently $4.61 billion as of October 2022
  • There are over 200 stablecoins in existence as of today
  • Roughly $4 billion in ETH has been burned since EIP-1559
  • Ethereum will reduce ETH issuance by ~90% after The Merge
  • 86% of Americans have a basic knowledge of crypto
  • About 53% of American millennials hold cryptocurrencies or NFTs
  • Over half of millennials and Gen Z are buying crypto for retirement
  • Over 37% of global crypto investors have Bitcoin
  • Americans hold 1/3 of the world’s crypto

Cryptocurrency Market Statistics 

The crypto market took a huge tumble in 2022, but it’s certainly come a long way since the early days of Bitcoin. Considering all of the high-profile investments in the cryptocurrency market, it’s safe to say Web3 will continue forward despite the recent market crash. 

1. $2 trillion left the crypto market between 2021 – 2022.

Let’s start with the bad news: The global crypto market fell from a peak of $3 trillion in November 2021 to roughly $980 billion in mid-October 20221. It’s impossible to pin this dramatic downfall on one reason, but a few key contributing factors include Central Bank rate hikes, bankruptcies at major crypto lending firms, and the implosion of Terra’s UST stablecoin. 

Much of the mania may have left the crypto market, but experts are hopeful these trials will serve as “growing pains” for this emerging industry. 

Source: CoinGecko

2. Bitcoin had its second worst quarterly loss ever in Q2 2022.

While Bitcoin has yet to exceed its 68 percent drop in Q3 of 2011, it recently had its second worst quarterly decline since its creation. In Q2 of 20222, Bitcoin lost an estimated 58 percent of its value. In dollar terms, Bitcoin was worth over $45,000 at the start of the quarter and about $19,000 by the end. 

3. Tesla sells 75 percent of its Bitcoin in 2022.

While there are dozens of reasons behind Bitcoin’s recent decline, Tesla’s crypto selloff certainly didn’t help. In the EV manufacturer’s second-quarter earnings call, CEO Elon Musk3 announced he sold 75 percent of the company’s Bitcoin holdings for approximately $936 million. Although Tesla now holds less Bitcoin as an investment, Musk made it clear this decision wasn’t a “verdict” on Bitcoin’s value as a currency. 

4. MicroStrategy’s Bitcoin holdings are down $1 billion in Q2 2022.

Unlike Tesla, the software company MicroStrategy is sticking with its “buy & hodl” Bitcoin plan. In its Q2 2022 earnings call4, MicroStrategy’s CEO Michael Saylor said he didn’t sell any of his Bitcoins, even though the value is about $1 billion below what he paid. MicroStrategy also filed a $918 million impairment charge for these paper losses.

5. Fidelity report suggests that 52 percent of global institutions already invest in crypto. 

A 2021 Fidelity survey5 of institutional clients in Europe, Asia, and the USA found that just over half had dipped their toes into digital assets. Analysts also point out that seven in ten institutions considered buying crypto at some point. Fidelity also noted that Asian institutions had the highest rate of crypto exposure (71 percent), and America had the least (33 percent). 

6. Ether’s price declined 69 percent in Q2 2022.

Despite the highly anticipated “Merge,” Ethereum’s native token fell more significantly than Bitcoin in Q2 2022. Indeed, crypto analysts claim ETH’s 69 percent6 quarterly drop was the worst since this token was created in 2015. 

7. Ethereum’s gas fees declined by over 50 percent between June and July 2022.

One of the “positives” of Ethereum’s recent slowdown has been a steep discount in network gas fees. Since fewer people are using Ethereum during the crypto bear market, it costs far less ETH to make a transaction than during the bull market. 

Interestingly, average ETH gas prices fell by 51 percent7 within just one month in 2022. The average gas fee on the Ethereum blockchain has been around 20 gwei during the late summer of 2022. Earlier in 2022, those prices were closer to 100 gwei8 per transaction. 

8. Bored Ape NFTs fall to a sub-$100,000 floor price. 

A significant reason Ethereum had such high gas fees in 2021 was due to NFT trading. All of the hottest profile pic collections, like the Bored Ape Yacht Club9 (BAYC), are on the Ethereum blockchain. 

Understandably, the declining price of ETH has hurt many NFT collections. For instance, the floor price for a BAYC NFT fell from a peak of 153 ETH (~ $450,000) in April to a low of 73.0 ETH (~ $113,000) in October 2022. 

9. The stablecoin market soars by 3,000 percent between 2020 – 2022. 

While many digital assets struggled in 2022, the stablecoin market continues to climb to new heights. According to a study from crypto exchange Binance10, the market cap for stablecoins grew by 3,000 percent from 2020 – 2022. Despite a dip in 2022 due to UST’s collapse, the adoption of centralized stablecoins remains robust. 

10. USDC’s market cap is almost at par with Tether.

Although smaller stablecoins like BUSD and GUSD continue to grow, the two top dogs remain USDT (Tether) and USD Coin (USDC). Combined, these centralized tokens control about 80 percent of the stablecoin market. 

Although Tether has been on top for the first half of 2022, many crypto analysts believe Circle’s USDC could overtake it before this year is over. The market cap11 of USDC has grown from $42 billion in January of 2022 to $53 billion in August. Within the same timeframe, USDT’s market cap went from $78 billion to $67 billion. 

Coin Metrics
Source: Coin Metrics

11. Bitcoin dominance has been around 40 percent for the first half of 2022. 

Traditionally, during a crypto downturn, Bitcoin’s market dominance increases as traders flee riskier altcoins. However, throughout the first half of 2022, Bitcoin’s market share hasn’t increased as much as in previous bear cycles. Interestingly, from May 2021 to August 2022, Bitcoin’s dominance12 has stayed within the 40 percent range. 

12. The number of wallets with over one Bitcoin hits historic highs.

Bitcoin’s price may be well off its highs, but that hasn’t deterred some people from stacking sats. Interestingly, data from Look Into Bitcoin13 shows the number of wallet addresses with over one BTC continues to hit all-time highs. In August 2022, over 898,000 crypto wallets had at least 1 Bitcoin. 

13. Chainalysis estimates global crypto adoption went up 880 percent between 2020 – 2021. 

Despite all the FUD in 2022’s crypto market, Chainalysis14 suggests that crypto adoption is still rising. The NY-based research firm recently found that crypto usage went up 880 percent between 2020 – 2021. Chainalysis highlighted that nations like Vietnam, Pakistan, and India were most enthusiastic about using crypto. 

Cryptocurrency History Statistics

Compared with precious metals, stocks, and bonds, blockchain is a baby in the financial world. Despite crypto’s relatively short history, it has made many impressive milestones in recent years. 

14. Bitcoin crosses 19 million coins in April 2022. 

Throughout its volatile price history, the Bitcoin network has produced block after block without fail. At the start of April 2022, the 19 millionth Bitcoin entered the circulating supply. It will likely take about 100 years before Bitcoin’s total supply of 21 million hits the open market. 

15. The next Bitcoin halving is set for March 2024. 

The reason it will take so long for the remaining 2 million BTC to get mined is due to the “halving” schedule. Approximately every four years, the BTC rewards miners receive are slashed by 50 percent. Recent reports15 suggest the next Bitcoin halving will take place in 2024, and the block reward will go from 6.25 BTC to 3.125 BTC. 

16. Bitcoin’s Lightning Network reaches 4,000 BTC.

First proposed in 2015, the Lightning Network16 promises to make Bitcoin microtransactions quick and cheap with smart contract settlements. While it may take years before most people use the Lightning Network daily, it continues to grow. In the summer of 2022, the Lightning Network surpassed 4,000 deposited BTC.

17. Roughly $4 billion in ETH has been burned since EIP-1559.

In mid-2021, Ethereum’s developers introduced a new fee system called EIP-1559. One of the critical changes EIP-1559 introduced was a burning mechanism with each on-chain transaction. According to recent data17, about $4 billion ETH has been burned since EIP-1559’s introduction in the summer of 2022. 

18. Ethereum will reduce ETH issuance by 90 percent post-Merge. 

Ethereum’s “Merge” to Proof of Stake ranks as one of the most significant upgrades in crypto history. In addition to its environmental impacts, this shift to PoS will have profound implications on Ether’s total supply. 

According to Ethereum’s website, the daily issuance of Ether will drop by 90 percent compared with the Proof of Work chain. Instead of 13,000 ETH, there will only be about 1,600 ETH issued daily on the new chain. 

19. CeFi crypto lender Celsius files bankruptcy with a $1.19 billion loss.

2022 was a historic year for the centralized crypto lending industry — but not in a good way. Multiple high-profile CeFi crypto companies shut down withdrawals and filed for bankruptcy as they struggled with the crypto bear market. Celsius18 was the largest of these companies to file for bankruptcy, with a reported $1.19 billion loss. 

20. Bitcoin Depot is set to become the first BTC ATM company on the US stock market. 

The Atlanta-based Bitcoin Depot may soon make history as the first Bitcoin ATM company to list on the NASDAQ exchange. According to recent filings19, Bitcoin Depot wants to list on the NASDAQ via an $885 million SPAC deal at the start of 2023. It’s estimated Bitcoin Depot now has at least 7,000 Bitcoin ATMs in North America. 

Bitcoin Depot
Source: Bitcoin Depot

21. Iran announces first $10 million trade deal in crypto. 

While some nations are wary of crypto adoption, other governments appear to be interested in using blockchain in their bureaucracy. For instance, Iran recently closed a historic trade deal on imports for a reported $10 million in crypto20. Although Iranian officials didn’t say which crypto they used, they have plans to continue using digital assets to settle deals with trade partners.  

22. The first NFT-ticketed plane flight will take off in late 2022. 

Air Europa made crypto history when it announced the world’s first NFT-based plane ticket auction21. People who won these “NFTickets” will scan their digital tokens in November 2022 to fly from Spain to Miami Beach. 

Interestingly, many other airlines have expressed interest in integrating with blockchain tech. Executives at Qatar Airways, Qantas, and Emirates have all been receptive to crypto and NFTs. 

23. James Howells proposes an $11 million plan to recover 8,000 lost Bitcoins.

James Howells22 may be the unluckiest miner in crypto history. In 2013, Howells tossed a hard drive containing 8,000 BTC in the trash. To get his money back, Howells proposed a hi-tech $11 million plan to excavate the Wales landfill where he believes his hardware wallet is. If this plan is approved and successful, Howells might get 30 percent of his BTC stash. 

24. Chainalysis estimates that 5 percent of Bitcoins are lost. 

Even though Bitcoin’s total supply is 21 million, the number of coins in circulation is far less. Many early investors like Howells lost access to their private keys, which means these Bitcoins are inaccessible. Interestingly, a Chainalysis23 report suggests that 5 percent of all Bitcoins mined are irrecoverable. 

25. The price of the first “Bitcoin pizza” is worth about $200 million in mid-2022. 

Along with James Howells, Laszlo Hanyecz24 has entered crypto lore for the considerable sum of Bitcoin he lost out on. In 2010, Hanyecz spent 10,000 BTC to purchase a Papa John’s pizza. At that time, it only cost Hanyecz $41 to make this transaction; in mid-2022, that transaction is about $200 million.

Cryptocurrency Demographic Statistics

Crypto adoption is spreading worldwide, but some places and people are more prone to put their money into digital assets. Recent stats suggest that a person’s age, nationality, and gender may influence their feelings about investing in cryptocurrencies

26. Pew Research suggests that 86 percent of Americans have a basic knowledge of crypto. 

Although most Americans aren’t “crypto experts,” more people seem to be familiar with big-cap currencies like Bitcoin. According to Pew Research25, 86 percent of American respondents have anywhere from “a little” to “a lot” of knowledge about the crypto industry. 

27. 53 percent of American millennials hold cryptocurrencies or NFTs.  

Millennials appear to be the most receptive generation to cryptocurrencies. Investopedia’s Financial Literacy Survey26 found that of millennials who had investments, 38 percent held cryptocurrencies, and 15 percent held NFTs. For comparison, 41 percent of Gen X, 33 percent of Gen Z, and 6 percent of Boomers had either crypto or NFTs.

28. Over half of millennials and Gen Z are buying crypto for retirement. 

Many young investors are optimistic that “digital gold” will help them finance their “golden years.” Data from IRA company Capitalize27 shows that over 50 percent of people in the millennial and Gen Z age groups have some crypto in their retirement portfolios. 

29. Gemini data suggests most crypto investors are in their 30s and make over $100,000 per year. 

A 2021 study from the crypto exchange Gemini28 suggested that most crypto investors were 38 and had an annual salary of $111,000. The NY-based company also found that 74 percent of crypto investors were men, and 71 percent identified as white. 

30. Minorities in the USA are more likely to own crypto compared with their demographic percentage. 

Data from the company Morning Consult29 suggests that minorities in America have a higher percentage of crypto ownership when compared with their percentage of the US population. For instance, Morning Consult found that 24 percent of Hispanics have crypto, but Hispanics comprise 16 percent of US residents. By contrast, ~ 62 percent of whites own crypto even though whites are currently 69 percent of the US population.

Morning Consult Cryptocurrency Statistics
Source: Morning Consult, CNBC

31. 37 percent of global crypto investors have Bitcoin. 

Survey data from Finder30 suggests most crypto investors continue to focus on accumulating Bitcoin. 37 percent of people who invest in crypto have some Bitcoin in their portfolio. By contrast, about 23 percent held Ethereum, and 19 percent held Dogecoin. 

32. Australian crypto investors are most likely to hold Bitcoin and/or Ethereum

Analysts at Finder30 also found that Australian crypto investors are most likely to concentrate their capital on the top two cryptocurrencies. Compared with the 37 percent and 23 percent global averages for Bitcoin and Ethereum, 60 percent of Australian crypto investors held Bitcoin, and 44 percent had Ethereum. 

33. 26 percent of Irish crypto investors bought Dogecoin. 

Crypto investors in Ireland were the most bullish on Elon Musk’s favorite altcoin. Finder’s report found that 26 percent30 of Irish survey respondents held some Dogecoin, which was 7 percent higher than the global average. However, Americans weren’t too far behind the Irish, with over 25 percent holding DOGE.

34. Pew Research data suggests twice as many men use crypto versus women. 

A 2021 report from Pew Research31 found that 22 percent of US men claimed they used crypto versus 10 percent of women. Study authors also found that 43 percent of millennial or Gen Z men had experience with crypto investing versus 19 percent of women in this demographic.

35. Goldman Sachs estimates Americans hold one-third of the world’s crypto.

Data from Goldman Sachs32 suggests Americans are most exposed to the ups and downs of the crypto market. According to the NY-based bank, Americans account for 33 percent of the cryptocurrency market. Data from a 2022 NBC News33 survey also suggests one in five US adults has bought crypto at some point. 

36. According to Forex Suggest, Hong Kong has the highest “crypto ready” score. 

Although the US may dominate today’s crypto market, data from Forex Suggest34 awarded Hong Kong the honor as the world’s most “crypto ready” nation. Forest Suggest’s analysts gave Hong Kong a score of 8.6 versus a 7.7 for the USA. Significant factors in Hong Kong’s favor include easier access to Bitcoin ATMs, a lower crypto tax rate, and a robust Web3 startup culture.

Cryptocurrency Trend Statistics

Thanks to their novelty, crypto and NFTs are arguably the trendiest sectors in global finance. However, certain aspects of the crypto market appear to be “trendier” than others. 

37. Citi projects the metaverse will be worth $13 trillion in 2030.

The “metaverse” seems to be the trendiest crypto-related word in the banking industry. For instance, a new Citi report35 suggested that the global metaverse industry should reach a valuation of $13 trillion by 2030. JP Morgan36 also said the metaverse could soon bring in $1 trillion yearly. 

38. Facebook’s Meta shells $10 billion to metaverse projects in 2021. 

Facebook parent Meta is the top Big Tech company betting on the future of the metaverse and Web3. According to recent earnings reports, CEO Mark Zuckerberg spent $10 billion37 on the metaverse-focused Reality Labs division in 2021. 

Meta isn’t the only Big Tech company investing heavily into the Web3 space. Interestingly, Google’s parent Alphabet38 seems to be one of the largest investors in crypto-related companies. In addition to investing $1.5 billion in the likes of Dapper Labs and Fireblocks, Alphabet recently announced Web3 integrations for its Cloud division. 

40. South Korea’s government pledges $187 million to metaverse innovation. 

Interestingly, it’s not just the private sector investing heavily in metaverse technology. South Korea’s government39 recently announced it would allocate $187 million to create a metaverse program. China also made headlines when Shanghai announced a $1.5 billion metaverse fund. 

41. a16z Announces First-Ever “GameFi Fund” for $600 million. 

Blockchain-based gaming seems to be the trendiest segment of the emerging metaverse space. Judging by prominent VC firms, many investors see the most potential in innovations like play-to-earn games and NFTs. Notably, Andreessen Horowitz40 (a16z) proposed its first-ever Web3 gaming-focused fund for $600 million. 

Introducing: a16z GAMES FUND ONE
Source: YouTube

Although there are many hot titles in the GameFi sector, “Axie Infinity” remains the most popular with global gamers. According to data from Google Trends41, the term “Axie Infinity” was the most searched NFT game in 2021. Google estimates there were about 3.8 million searchers for this Pokémon-like game each month. 

43. Deloitte estimates over 80 percent of American retailers are interested in crypto payments. 

In-store crypto payments aren’t the norm in North America, but data from Deloitte suggests crypto microtransactions may soon start trending. According to this report, 87 percent42 of US businesses say companies are more competitive if they offer a crypto payment option. Deloitte also found that 85 percent of survey respondents are focusing on integrating crypto payments soon.   

44. 64 percent of American parents want schools to teach “Crypto 101.”

If Study.com’s data is correct, Bitcoin may soon enter US textbooks. Researchers at Study.com found that 64 percent43 of American parents want schools to include crypto courses in their curriculum. However, it’s worth mentioning that everyone involved in this study had some prior knowledge of crypto and blockchain. 

45. 86 percent of central banks are working on Central Bank Digital Currencies.

To compete with private stablecoins, more countries are investing in their own Central Bank Digital Currencies (CBDCs). The Bank for International Settlements (BIS) says as many as 86 percent44 of the world’s central banks are at least looking into CBDCs, and 14 percent are already at the pilot project phase. Although many crypto purists have concerns about CBDCs, it appears this trend won’t go away in the near term. 

46. 12 percent of new homebuyers used crypto to pay for a house in 2021 

A Redfin survey45 suggests more people are using their crypto investments to break into the real estate market. In Q4 of 2021, almost 12 percent of people who bought their first home said they sold crypto assets to put a down payment on their property. For comparison, that number was 8.8 percent in Q3 of 2020 and 4.6 percent in Q3 of 2019.

47. 45 percent of crypto investors donate over $1,000 to charity annually. 

A 2021 report from the crypto donation site The Giving Block46 suggests that investors aren’t super stingy with their satoshis. In fact, trends suggest that 45 percent of crypto investors donated at least $1,000 to charities in 2021. Impressively, the average crypto donation on The Giving Block was $11,000.  

48. Crypto donations rise 1,558 percent between 2020 and 2021.

The Giving Block also found that total crypto donations grew by a staggering 1,558 percent from 2020 to 2021. Study authors say they’ve received $69 million in total crypto donations for 2021. However, it will be significant to see if this trend continues during an extended “crypto winter.” 

49. Crypto exchanges see 20 percent withdrawals in 2022.  

As major companies like Celsius and Voyager paused withdrawals, more crypto investors started pulling all of their tokens off of centralized platforms. Analysis from the firm Glassnode47 suggests the tokens on centralized exchanges dropped by 20 percent from January to the summer of 2022. 

50. Almost half of US crypto buyers are disappointed with their investment in 2022. 

Given the significant drawdown in the crypto market, it’s no surprise many digital asset investors would rather not look at their portfolios. According to a Pew Research poll48, about 46 percent of American crypto buyers said their investments had performed “worse” than they had hoped. 

Cryptocurrency Security Statistics

With so many reports of rugpulls and hacks, security is always on people’s minds when dealing with crypto. Unfortunately, since crypto is relatively unregulated, it continues to have “bugs” and “bad apples” in the system. 

51. Crypto phishing attacks on social media grew by 170 percent between Q1 and Q2 of 2022.

Data from the crypto security firm CertiK49 suggests phishing scams related to crypto are rising on social media. Within the first two quarters of 2022, reported crypto phishing attacks on major social media platforms grew from 106 to 290. CertiK also found that some users lost as much as $100,000 in these scams. 

52. Chainalysis reports $2 billion was stolen from cross-chain bridges in 2022. 

As bad as crypto phishing scams are, cross-chain bridges have been one of the most sensitive areas in the Web3 industry. Ideally, a cross-chain bridge should help crypto users transfer digital assets between multiple blockchains. Unfortunately, analysts at Chainalysis estimate hackers have already gotten away with $2 billion50 in stolen tokens from these bridges in the first half of 2022. 

53. Hackers steal $5 million from Solana software wallets. 

Many investors live by the motto “not your keys, not your crypto.” However, a $5 million51 hack in the summer of 2022 should remind crypto enthusiasts that private hot wallets can get hacked. Hackers exploited a vulnerability in the Slope wallet’s storage system, which helped them drain funds in 8,000 Solana hot wallets like Phantom. 

54. Solana experiences at least seven network outages between 2021 and 2022. 

Speaking of Solana52, this crypto project has been taken to task recently for its network security. Between 2021 and 2022, Solana has suffered at least seven outages and DDoS attacks. Solana’s native SOL token has fallen from a peak of $258 in 2021 to about $35 per token in August of 2022. 

Solana Hackers CNBC
Source: CNBC

55. Ledger’s hardware wallet sales increased 400 percent after the Solana hot wallet hack. 

When news broke of the $5 million Solana software wallet attack, hardware wallet manufacturers experienced a considerable surge in demand. For instance, cold wallet manufacturer Ledger said their sales grew by 400 percent per day53. At one point in 2022, Ledger was bringing in $2 million every day54.  

56. Three Arrows Capital records a record $3.5 billion in debt. 

The massive hedge fund Three Arrows Capital (3AC) triggered a great deal of the crypto selloff in 202255. Due to losing investments like LUNA and risky trading practices, this once prominent fund has $3.5 billion in debt from its creditors. Many pundits consider 3AC to be the most significant meltdown for any hedge fund. 

57. Chainalysis estimates that $600 million of crypto is used yearly for ransomware payments.

Another scary statistic from Chainalysis56 is that crypto wallets received over $600 million in ransomware payments yearly in 2020 and 2021. This number exploded in 2019 when ransomware accounted for $152 million in crypto transactions. Chainalysis also points out its figures are most likely “underestimates.” 

58. Terra’s LUNA falls over 99 percent in one week. 

Terraform Labs’ native token LUNA had the most dramatic rise & fall in crypto history. One week after Terra’s UST stablecoin lost its peg, the LUNA token57 lost 99.7 percent of its value. While these types of falls aren’t unheard of for low-cap altcoins, it was a major shock to the crypto market, given LUNA’s peak market cap of $40 billion. 

Cryptocurrency Crime Statistics

Crypto critics often argue these decentralized tokens make it easier for criminals to get away with illicit actions. So, how much crypto is directly related to criminal activities? 

Although Chainalysis believes criminals stored $14 billion in crypto during 202158, that only represents about 0.15 percent of 2021’s total crypto transactions. So, even though the amount of crypto used by criminals has been going up, the total volume decreased compared with legitimate transactions.  

60. The UN believes cash accounts for $800 billion – $2 trillion in yearly money laundering. 

Although more criminals are using crypto, it doesn’t appear to be as attractive as cash. For perspective, the UN estimates that $800 billion – $2 trillion in USD is involved in money laundering each year59

61. Average ransomware demands grow 43 percent between 2020 and 2021. 

Researchers at the company CloudWards claim average ransomware attacks have upped their demands by 43 percent between 2020 and 202160. The average ransom in 2020 was approximately $178,000, but this has gone up to over $220,000 in recent years. Please note: These numbers track ransomware overall, not just in the crypto space. 

62. More crypto ransoms charge a 10 percent premium for Bitcoin over Monero. 

2021 data from the firm CipherTrace suggests more ransomware attackers prefer privacy-focused coins like Monero (XMR) over BTC. In fact, analysts discovered that people who accept ransoms in BTC or XMR charge 10 – 20 percent extra from the latter61. To this day, Monero is the largest privacy-focused cryptocurrency, making it one of the most controversial in the space. 

63. 74.7 percent of laundered Ethereum funds went through the Tornado Cash mixer. 

Tornado Cash gained mainstream notoriety in 2022 after the US government sanctioned the popular crypto mixer. According to recent data62 from the firm SlowMist, 74.7 percent of laundered crypto on the Ethereum blockchain went through Tornado Cash. That equates to about 300,160 ETH. 

64. North Korea’s Lazarus Group steals $100 million from the Harmony blockchain. 

A notable attack in recent crypto history was the hack of the Harmony blockchain for $100 million63. Most reports suggest North Korea’s Lazarus Group was behind this cross-bridge attack. Blockchain experts believe the hackers used Tornado Cash to make it difficult to track their movements. 

65. Lazarus Group was also behind the $620 million hack of “Axie Infinity’s” Ronin side-chain. 

As if the Harmony hack wasn’t enough, the Lazarus Group64 is responsible for stealing ~ $620 million on a cross-chain bridge involving “Axie Infinity’s” Ronin side-chain. Yet again, authorities suspect Lazarus used mixers like Tornado Cash to make their activities challenging to trace65

66. NFT hacks are up from $7 million in 2021 to $52 million plus in 2022. 

Researchers at Top10VPN66 discovered a massive surge in NFT hacks between 2021 and 2022. In 2021, roughly $7 million worth of NFTs were stolen. Shockingly, between January and April of 2022, there was already $52 million worth in NFT hacks — which translates to a rise of over 660 percent.  

Cryptocurrency Environmental Impacts Statistics

It’s no secret that environmentalists are some of the most prominent blockchain critics. Although crypto is far from carbon neutral, there are signs the industry is moving towards a greener future. 

67. One Bitcoin transaction emits 806.54 kg of CO2 and uses 1446.03 kWh of electricity. 

Although there are other Proof of Work blockchains, Bitcoin is the big dog — hence, it’s the most concerning for environmentalists. Estimates from Digiconomist67 now suggest one Bitcoin transaction puts out about 806.54 kg of CO2, which translates to 73 Mt of CO2 per year. Analysts also say one Bitcoin transaction equals 1446.03 kWh of electricity or about 50 days of power in a typical US home. 

Digiconomist Bitcoin Energy Consumption
Source: Digiconomist Bitcoin Energy Consumption

68. The global banking system uses about 56 times more energy than Bitcoin.

Crypto believers often point out that Bitcoin is less energy-intensive when compared with the current global banking model. An analysis from the firm Valuechain suggests that the global banking system requires 56 times more energy than the Bitcoin network68

69. Gold mining produces about 145 Mt of CO2 per year. 

For another comparison, many Bitcoin miners highlight the gold mining industry has comparable energy and CO2 emission rates. Data from DePaul University69 found that the global gold mining industry produced roughly 145 Mt of CO2 and used 265 TWh of electricity in 2020. So, even though BTC mining isn’t “green,” it may not look too bad compared to other industries.

70. Ethereum uses about 112 TWh of electricity and 51 Mt of CO2 per year. 

As the second-largest Proof of Work chain, Ethereum70 has faced backlash for its energy demands. The PoW Ethereum chain consumes roughly 112 TWh of electricity and 51 Mt of CO2 annually. For comparison, Ethereum said this is equivalent to the energy demands in The Netherlands and the CO2 from Singapore.   

71. The Ethereum “Merge” should reduce energy expenditure by 99.95 percent. 

The Ethereum development team hopes to address its energy concerns by transitioning to Proof of Stake in 2022. According to Ethereum developers, the updated Proof of Stake chain will consume 99.95 percent less energy than the current Proof of Work chain71

If you’re unfamiliar with crypto consensus mechanisms, please check out The Modest Wallet’s guide to “Proof of Work vs. Proof of Stake.” 

72. The Bitcoin Mining Council estimates that 58.5 percent of the energy sources used for Bitcoin are renewable. 

As Bitcoin faces increased scrutiny for its energy demands, many mining pools are considering ways to prioritize renewable energy sources. According to the Bitcoin Mining Council, about 58.5 percent72 of the energy on Bitcoin’s blockchain came from renewable energy in Q4 of 2021. Fans of the Proof of Work model are hopeful that increased reliance on eco-friendly energy will improve Bitcoin’s green score. 

73. Crypto Carbon Ratings Institute says Avalanche is the “greenest” blockchain. 

Since Proof of Stake blockchains don’t require as much computing power, they tend to outperform Proof of Work networks in terms of environmental impact. 

While all PoS chains have comparatively low energy and greenhouse gas emissions, the Crypto Carbon Rating Institute (CCRI) recently claimed Avalanche is the industry’s most “eco-friendly” chain73. Even though Avalanche uses slightly more energy than chains like Polkadot, the CCRI argues Avalanche’s superior efficiency gives it a higher ranking.

Avalanche’s total energy expenditure is about 489,311 kWh versus Bitcoin’s 89,780,000,000 kWh. 

Cryptocurrency Mining Statistics 

Despite the rise in popularity of Proof of Stake chains, crypto mining will remain significant due to the size and influence of Bitcoin. If more people adopt Bitcoin as a currency, developers will need to research more secure and sustainable ways to power the world’s largest crypto. 

74. In 2022, the US accounts for ~ 37 percent of Bitcoin’s hash power. 

Since China’s crackdown on Bitcoin miners in 2021, the USA has taken the lead in global Bitcoin mining. Statistics from the Cambridge Bitcoin Electricity Consumption Index (CBECI) suggest the USA powers ~ 37 percent of the Bitcoin blockchain in early 202274. States like Texas, Wyoming, and Georgia have become increasingly receptive to the crypto mining industry75.

Cambridge Energy Consumption Map Cryptocurrency Statistics
Source: University of Cambridge

75. China once controlled 75 percent of Bitcoin’s mining power.  

Before Beijing banned Bitcoin miners, many crypto enthusiasts were concerned China’s influence on BTC’s blockchain could create centralization risks. In September 2019, the University of Cambridge estimated China controlled 75.5 percent of Bitcoin’s hash rate. However, in the summer of 2021, China’s share of Bitcoin mining went to zero.

76. Despite the recent ban, China still powers ~ 20 percent of Bitcoin’s hash power.

Although many Chinese Bitcoin miners fled to countries like Kazakhstan, blockchain experts believe there are “underground” BTC miners in the PRC. The CBECI found that miners in China were powering at least 21 percent share of the Bitcoin network in early 2022. That still makes China the second-largest country in the Bitcoin network76.  

77. JP Morgan estimates the average price to mine one Bitcoin is around $13,000 in 2022. 

A 2022 report from JP Morgan suggests the “fair price” to mine one Bitcoin has decreased to about $13,00077. Previously, JP Morgan argued this number was closer to $24,000, factoring in Bitcoin’s increased difficulty and less-efficient equipment in 2021. If true, this average price may make it easier for mining operators to avoid panic selling even during an extended bear market. 

78. Riot Blockchain announces $9.5 million in power credits. 

One way Bitcoin mining companies like Riot have been riding the “bear market” is by collecting power credits as it shut down much of its facilities78. Recently, Riot Blockchain announced it sold energy credits for the Texas power grid. It’s estimated Riot will collect $9.5 million from these credits, which equates to the roughly 439 BTC it was expecting to mine79.  

79. The National Bureau of Economic Research estimates 0.1 percent of Bitcoin miners control 50 percent of Bitcoin’s network. 

A 2021 report from the National Bureau of Economic Research (NBER) highlights a concern some people have over centralization in the Bitcoin network80. According to NBER’s findings, just 0.1 percent of all Bitcoin mining farms control about 50 percent of the network. The NBER’s report also suggests that 10 percent of Bitcoin mining pools are responsible for about 90 percent of the blockchain. 

80. Arcane Research suggests Bitcoin will reach 0.36 percent of global energy consumption if it hits $2 million per coin. 

If Bitcoin becomes a new monetary standard, it may account for a significant portion of global energy consumption. That’s according to data from Arcane Research, which analyzed potential energy demands for Bitcoin by 204081. If Bitcoin were to reach $2 million by 2040, scientists estimate it would need 0.36 percent of the world’s energy supply. 

81. The GPU mining industry will drop from over $19 billion to $4.1 billion after Ethereum’s “Merge.” 

Info from the staking pool Swell Network shows just how big of an impact Ethereum’s move to Proof of Stake will have on the GPU mining market82. According to a recent analysis, Ethereum accounts for 97 percent of daily revenue for GPU miners. Once Ethereum is out of the picture, the total market cap of GPU coins is about $4.1 billion. For comparison, Swell Network estimates that the Ethereum mining market is about $19 billion. 

Final Thoughts 

With so much uncertainty, controversy, and excitement in the crypto market, it’s common for newcomers to feel confused. Hopefully, the stats listed above give you a better understanding of crypto’s past, present, and future potential.


1 https://www.coingecko.com/en/global-charts
2 https://www.cnbc.com/2022/06/30/bitcoin-btc-on-track-for-its-worst-quarter-in-more-than-a-decade.html
3 https://www.cnbc.com/2022/07/20/tesla-converted-75percent-of-bitcoin-purchases-to-fiat-currency-in-q2-2022.html
4 https://www.coindesk.com/business/2022/08/02/microstrategy-reports-918m-impairment-charge-on-bitcoin-holdings-in-q2/
5 https://www.fidelitydigitalassets.com/research-and-insights/fidelity-digital-assets-2021-institutional-investor-digital-assets-study
6 https://www.cnbc.com/2022/06/30/bitcoin-btc-on-track-for-its-worst-quarter-in-more-than-a-decade.html
7 https://dailyhodl.com/2022/08/04/july-2022-monthly-research-key-data-average-eth-gas-price-decreased-by-51
8 https://ycharts.com/indicators/ethereum_average_gas_price
9 https://decrypt.co/107873/bored-ape-yacht-club-nfts-ethereum-floor-price-drops-to-8-month-low
10 https://www.outlookindia.com/business/-news-210105
11 https://www.coingecko.com/en/categories/stablecoins
12 https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/
13 https://www.lookintobitcoin.com/charts/wallets-greater-than-1-btc
14 https://blog.chainalysis.com/reports/2021-global-crypto-adoption-index/
15 https://buybitcoinworldwide.com/bitcoin-clock/
16 https://cointelegraph.com/news/bitcoin-lightning-network-capacity-charges-through-4-000-btc
17 https://ultrasound.money/
18 https://www.reuters.com/business/finance/crypto-lender-celsius-network-reveals-119-billion-hole-bankruptcy-filing-2022-07-14/
19 https://bitcoinmagazine.com/business/bitcoin-atm-firm-to-list-on-nasdaq
20 https://cointelegraph.com/news/iran-makes-10m-import-with-crypto-plans-widespread-use-by-end-of-sept
21 https://www.outlookindia.com/travel/the-world-s-first-nft-flight-ticket-fetches-one-million-in-live-auction-news-194658
22 https://www.businessinsider.com/james-howells-threw-away-bitcoin-dump-masterplan-get-back-2022-7
23 https://www.coindesk.com/tech/2021/12/08/bitcoins-lost-coins-are-worth-the-price/
24 https://www.forbes.com/sites/rufaskamau/2022/05/09/what-is-bitcoin-pizza-day-and-why-does-the-community-celebrate-on-may-22/?sh=77216cecfd68
25 https://www.pewresearch.org/fact-tank/2021/11/11/16-of-americans-say-they-have-ever-invested-in-traded-or-used-cryptocurrency/
26 https://www.investopedia.com/younger-generations-bullish-on-cryptocurrencies-5223563
27 https://money.com/gen-z-millennials-invest-crypto-retirement/
28 https://www.fastcompany.com/90728063/crypto-is-overwhelmingly-male-but-these-womens-collectives-are-raising-their-voices
29 https://www.cnbc.com/2022/02/08/-research-shows-cryptocurrency-adoption-among-hispanics-is-high.html
30 https://www.finder.com/finder-cryptocurrency-adoption-index
31 https://www.pewresearch.org/fact-tank/2021/11/11/16-of-americans-say-they-have-ever-invested-in-traded-or-used-cryptocurrency/
32 https://www.cnbc.com/2022/06/18/why-the-2-trillion-crypto-market-crash-wont-kill-the-economy.html
33 https://www.cnbc.com/2022/03/31/cryptocurrency-news-21percent-of-adults-have-traded-or-used-crypto-nbc-poll-shows.html
34 https://cointelegraph.com/news/hong-kong-positioned-as-the-most-crypto-ready-country-in-2022
35 https://www.coindesk.com/business/2022/06/07/metaverse-related-economy-could-be-as-much-as-13-trillion-citi/
36 https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/opportunities-in-the-metaverse.pdf
37 https://www.theverge.com/2021/10/25/22745381/facebook-reality-labs-10-billion-metaverse
38 https://cointelegraph.com/news/google-invested-a-whopping-1-5b-into-blockchain-companies-since-september
39 https://blockworks.co/shanghai-allocates-1-5b-to-metaverse-development-fund/
40 https://www.coindesk.com/business/2022/05/18/a16z-launches-first-gaming-fund-with-600m-commitment/
41 https://finbold.com/axie-infinity-is-the-worlds-most-googled-nft-collection/
42 https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology/us-cons-merchant-getting-ready-for-crypto.pdf
43 https://cointelegraph.com/news/64-of-us-blockchain-versed-parents-want-crypto-taught-in-schools-survey
44 https://www.bis.org/about/bisih/topics/cbdc.htm
45 https://www.redfin.com/news/real-estate-cryptocurrency-down-payments/
46 https://thegivingblock.com/resources/crypto-philanthropy-key-data-and-statistics-2021/
47 https://www.fool.com/the-ascent/cryptocurrency/articles/bitcoin-investors-are-pulling-out-of-exchanges-in-record-numbers-should-you/
48 https://www.pewresearch.org/fact-tank/2022/08/23/46-of-americans-who-have-invested-in-cryptocurrency-say-its-done-worse-than-expected/
49 https://www.certik.com/resources/blog/7fuXtbfo4CXEXcwy5Pqijp-hack3d-the-web3-security-quarterly-report-q2-2022
50 https://www.coindesk.com/business/2022/08/04/chainalysis-estimates-2b-stolen-from-cross-chain-bridge-hacks-this-year/
51 https://www.cnbc.com/2022/08/03/hackers-attack-solana-crypto-stealing-millions.html
52 https://www.cryptopolitan.com/solana-why-is-solana-down/
53 https://www.investing.com/news/cryptocurrency-news/hardware-wallets-sell-off-as-crypto-heists-increase-2878893
54 https://cointelegraph.com/news/hardware-crypto-wallet-sales-increase-as-centralized-exchanges-scramble
55 https://www.protocol.com/bulletins/three-arrows-capital-debt
56 https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-ransomware/
57 https://www.coindesk.com/markets/2022/05/12/terras-luna-has-dropped-997-in-under-a-week-thats-good-for-ust/
58 https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/
59 https://www.unodc.org/unodc/en/money-laundering/overview.html
60 https://www.cloudwards.net/ransomware-statistics/
61 https://cointelegraph.com/news/monero-crypto-of-choice-as-ransomware-double-extortion-attacks-increase-500
62 https://finbold.com/tornado-cash-receives-75-of-funds-laundered-on-ethereum-new-research-reveals/
63 https://www.theguardian.com/world/2022/jun/30/north-korean-hackers-thought-to-be-behind-100m-cryptocurrency-heist
64 https://cointelegraph.com/news/cross-chains-beware-debridge-flags-attempted-phishing-attack-suspects-lazarus-group
65 https://blockworks.co/decentralized-or-not-officials-say-tornado-cash-responsible-for-illicit-activity/
66 https://www.livemint.com/market/cryptocurrency/losses-from-nft-crimes-up-667-in-2022-compared-to-whole-of-2021-report-11652099260806.html
67 https://digiconomist.net/bitcoin-energy-consumption/
68 https://cointelegraph.com/news/banking-uses-56-times-more-energy-than-bitcoin-valuechain-report
69 https://www.nasdaq.com/articles/a-comparison-of-bitcoins-environmental-impact-with-that-of-gold-and-banking-2021-05-04
70 https://ethereum.org/en/energy-consumption/
71 https://blog.ethereum.org/2021/05/18/country-power-no-more
72 https://cointelegraph.com/news/this-earth-day-analysts-say-bitcoin-mining-is-naturally-gravitating-to-green-energy
73 https://www.cnbctv18.com/cryptocurrency/avalanche-blockchain-most-energy-efficient-crypto-network-report-12515142.htm
74 https://ccaf.io/cbeci/mining_map
75 https://www.cnbc.com/2022/07/18/these-are-the-10-states-leading-americas-crypto-industry.html
76 https://www.cnbc.com/2022/05/18/china-is-second-biggest-bitcoin-mining-hub-as-miners-go-underground.html
77 https://cointelegraph.com/news/btc-mining-costs-reach-10-month-lows-as-miners-use-more-efficient-rigs
78 https://www.riotblockchain.com/news-media/press-releases/detail/135/riot-blockchain-announces-july-2022-production-and
79 https://www.bloomberg.com/news/articles/2022-08-03/bitcoin-miner-made-millions-by-shutting-rigs-during-texas-heat
80 https://fortune.com/2021/10/26/bitcoin-mining-capacity-ownership-concentration-top-investors-nber-study/
81 https://cointelegraph.com/news/bitcoin-mining-would-cost-less-than-0-5-of-global-energy-if-btc-hits-2m-arcane
82 https://cointelegraph.com/news/ethereum-merge-prompts-miners-and-mining-pools-to-make-a-choice

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