48 Blockchain Statistics 2023: Interesting Facts You Should Know

Written By
I. Mitic
Updated
December 16,2022

Everybody’s talking about blockchain.

But, if you listen closely, you may begin to suspect that some aren’t quite sure what blockchain technology is, why it’s important, or what it can do.

Yes, blockchain technology is the foundation of Bitcoin and other cryptocurrencies. However, computer scientists and business leaders think it has the potential to transform global commerce, law, politics, and more.

Consider elections. With blockchain technology, each vote could be recorded anonymously in an unalterable public ledger. The final results would be beyond question, with no possibility of tampering.

A blockchain-equipped car could pay for its own fuel with cryptocurrency. In the face of an accident, it could automatically contact the insurance company and send precise information about the damage.

These are just two examples out of potentially thousands of ways blockchain technology could transform the way we live by making data open, anonymous, and unalterable.

This page is more than a compendium of stunning blockchain, crypto, and Bitcoin statistics. We hope it is also a source of reliable answers to burning questions about blockchain adoption and its potential in diverse fields. 

Even if you’re familiar with the subject, we think you’ll find a few mind-blowing blockchain network stats.

Blockchain Stats 2023 - Editor’s Choice

  • About 90% of US and European banks had started exploring blockchain’s potential by 2018.  
  • 74% of tech-savvy executive teams say they believe there’s huge business potential in blockchain technology. 
  • 24% of companies expect to invest between $5 million and $10 million in blockchain solutions during 2021.
  • Financial institutions alone have spent about $552 million on blockchain-powered projects.
  • Blockchain is so versatile that, besides recording financial transactions, it can be used for storing information, concluding binding agreements, tracking the flow of goods, storing personal credit records, and much more.
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Blockchain, as we know it today, was invented by an individual or a group of people using the pseudonym Satoshi Nakamoto. 

(Investopedia, Bitcoin.org, The Economist)

The blockchain serves as the public transaction ledger for the first and best-known cryptocurrency, Bitcoin. Satoshi conceived a peer-verified electronic currency that would allow monetary transactions to be performed directly between two parties without the need for intermediaries.

The blockchain itself is actually a list of records, or blocks, which are connected cryptographically. Each block contains transaction data (such as date, time, and amount) as well as the cryptographically secured unique electronic address of the parties involved in each transaction.

Every block also stores a code called a “hash” that uniquely identifies it. Every user of Bitcoin’s blockchain has a copy of their entire transaction history. The fact of the transaction is public and unalterable due to hashes that link each block in the chain to the previous and following blocks. The nature of the transaction and the identities of the parties involved are private. 

When two people engage in a transaction, every computer belonging to the blockchain network has to verify it by solving a complex mathematical problem. Only once the verification is complete is the transaction block added to the chain. This is one reason blockchain eliminates the need for an intermediary when performing monetary transactions. 

Serving as the foundation for an electronic currency is just one application of blockchain technology. Blockchains can also store medical records, contracts, or even voting results, all of which are automatically verified by the network. 

The first mention of the word blockchain occurred on BitcoinTalk, the world's largest forum dedicated to Bitcoin.

(CoinDesk)

According to early Bitcoin developers, the term blockchain was not used initially. Satoshi Nakamoto, the inventor(s) of Bitcoin, referred to the technology as a "proof-of-work" chain. BitcoinTalk forum users came up with the term during a discussion about how much time it takes to download Bitcoin's "blockchain," referring to the entire history of Bitcoin transactions. 

Blockchain Market Statistics

The financial sector currently accounts for more than 60% of blockchain’s worldwide market value. 

(Statista)

The technology has spread to other sectors as well: manufacturing (17.6% of the market share), distribution and services (14.6%), public sector (4.2%), and infrastructure (3.1%). Nearly every industry has adopted blockchain tech to some extent.

By the end of 2018, about 90% of U.S. and European banks and financial institutions had begun exploring the adoption of blockchain technology. 

(Law Technology Today, BlockTelegraph)

The financial sector accounts for the biggest share of investments made in pursuit of incorporating blockchain technology. In 2018, financial institutions spent about $552 million on blockchain-powered projects. 

The costs of transactions using blockchain are millions of times cheaper than transaction costs in the traditional economy. 

(Etherscan)

For example, the transaction fee for transferring 849,999.99939168 Ether (which is equal to $1,086,859,721.34 at the time of writing) is only 0.000273 ETH, or $0.35. 

Blockchain could reduce investment banks’ infrastructure costs by 30%. 

(Accenture Consulting)

According to a survey of eight banks by Accenture Consulting, the potential savings on a cost base of $30 billion are more than $8 billion. 

The blockchain market is expected to grow from $7.18 billion in 2022 to $163.83 billion in 2029 with a CAGR of 56.3%

(Grand View Research, Statista, Transparency Market Research, Fortune Business Insight)

Previous reports forecast that the annual revenue of the blockchain industry will reach $20 billion. When it comes to blockchain technology market size, reports suggest that it will reach $23.3 billion by 2023 and $39.7 billion in 2025. 

Such rapid blockchain growth statistics are explained by increasing demand for this technology across all industries, from financial services, through consumer and industrial goods, all the way to media, telecom, transport, healthcare, and public services. 

86% of tech-savvy executive teams surveyed by Deloitte said they believe there’s huge business potential in blockchain technology. 

(Deloitte)

An even higher number (88%) of business leaders responded that this technology is scalable and that it will eventually become mainstream. Survey author, Linda Pawczuk, argues that Blockchain is "a versatile technology that can record financial transactions, store medical records, or even track the flow of goods, information, and payments through a supply chain."

24% of companies participating in the Deloitte blockchain survey said they would invest from $5 million to less than $10 million in blockchain technology during 2021.

(Deloitte)

Another 24% of the 1,000 surveyed companies reported that they planned to invest from $500,000 to less than $1 million, while 12% planned to spend $10 million or more. 

Bitmain, a Chinese company that produces integrated circuit chips for crypto mining, is considered the largest blockchain organization in the world by market valuation of $40-50 billion in early 2021. 

(Investopedia)

Other entries on the list of the biggest blockchain companies are the digital currency exchange Coinbase (valued at $18.3 billion), stock trading organization Robinhood ($8.8 billion), and Ripple ($15 billion).  

An increasing number of food companies and retailers are experimenting with blockchain technology. 

(Wall Street Journal, Reuters)

Walmart has partnered with Nestle, Dole, Unilever, and Tyson Foods to implement blockchain in the food industry. Statistics show that blockchain implementation could generate $700 million in increased productivity. 

In one pilot project, blockchain made it possible to trace individual mangoes back to the farm in 2.2 seconds. Walmart says that without blockchain, it would take more than six days to identify the original farm. 

A European retailer, Carrefour, is the first company on the continent to introduce blockchain for food products. The company believes that the technology will revolutionize its supply chains, helping raise $5 billion in organic food sales by 2022. 

The global blockchain revenue in the food and agriculture industries is estimated to reach $1.48 billion by 2026. 

(BIS Research)

According to projections of blockchain trends, the early adoption phase (research & development) will end in 2022. The regulatory and commercialization phase will last from 2023 to 2025. Beyond 2025, it’s expected that blockchain will become a mainstream technology in these industries. 

The average daily value of blockchain transactions is around $40 billion. 

(Medici, Cryptopolitan, Blockchain.com, Live Coin Watch, PwC)

As of October 2022, more than 771,471 million transactions have been made on the blockchain. What’s also interesting is the emergence of fiat money-transfer companies that operate on blockchain, such as San Francisco-based Veem. 

Following this trend, Western Union has partnered with the Stellar (XLM) blockchain platform with the goal of speeding up transactions between different locations around the world.

33% of companies in consumer products and manufacturing have already implemented blockchain technology.

(Statista)

Life sciences industries (including biotech, medical devices, and pharma) take second place, with 23% of companies already using blockchain. 

There are social networks that run on blockchains. 

(Steemit, CoinMarketCap, Live Coin Watch)

One of the best-known is Steemit, a blogging network that rewards users for posting or curating content. The network’s base token is called Steem. 

Every time a user uploads articles or posts comments, he or she is rewarded with the network’s native token. At the time of writing, Steem is valued at $0.2161, and it’s ranked 224th on Live Coin Watch. 

There are more than 84.79 million unique users of blockchain wallets as of October 2022. 

(Statista, Blockchain.com)

A blockchain wallet is a digital wallet that allows users to receive, store, and spend digital currencies. A typical blockchain wallet interface shows the current balance for stored cryptocurrencies and displays the history of transactions. Blockchain wallet users can send a request to other parties for a specific amount of BTC, ETH, XRP, Litecoin, Tether, or other digital currencies. 

A unique address is generated for each request. Users can send funds to other unique addresses using their e-wallets, too. E-wallets can be stored online or offline; the latter method is much safer. 

When a user initiates a first-ever crypto transaction, a digital wallet generates the private key, which then generates the public key. Both are represented as strings of alphanumeric characters. 

The unique address to which the transactions are sent is actually a hashed version of the public key. The private key is known only by the wallet’s owner, and it allows access to cryptocurrency. Users are not able to access and withdraw the funds deposited at their addresses - that is, in their e-wallets - until they provide a unique private key.

That said, a good e-wallet is absolutely necessary if you wish to keep your Bitcoin or any other cryptocurrency safe, so it’s important to choose an e-wallet that suits your needs best.

Around 15% of IT professionals have invested in cryptocurrency, which makes them the largest group of investors. 

(eToro)

Students, the unemployed, and retirees also constitute a significant portion of crypto investors. More than 80% of cryptocurrency investors are novices; only 7.38% say they had previous experience in investing. 

Global blockchain market size has shrunk by almost 70% in 2022. 

(Diar, Live Coin Watch) 

After an all-time high of $3 trillion, the cryptocurrency market cap has dropped significantly in 2022 to $921 billion as a result of the global and economic crises. It doesn’t mean that the market won’t recover and see more success like in 2018, when the blockchain investment was up by 280% year-over-year in the first three quarters.

According to one report, blockchain and crypto startups raised $3.9 billion through venture capital investments before the beginning of Q4 2018. The average size of blockchain investments increased by more than $1 million in 2018. 

According to blockchain predictions by Brock Pierce, an American entrepreneur with rich experience in digital currencies, the future of blockchain growth will be pushed by DApps, STOs, and the gaming industry. 

(Forbes)

Pierce, the co-founder of the EOS cryptocurrency platform, says that significant decentralized apps will hit millions of users in the near future. Another important aspect of further blockchain growth will be security token offerings, which work in a more regulated manner than ICOs. 

The former EOS blockchain chief strategy officer predicts the tokenization of fiat money, the debt market, real estate, equities, and even art is just around the corner. The gaming industry will be a major driver of blockchain adoption as well since gamers were among the earliest crypto adopters. 

Key issues that need to be solved before blockchain becomes a mainstream technology are performance speed, interoperability, costs, regulations, and collaboration.

(CNBC, Deloitte, ICOService, Visual Capitalist)

Issue #1: In numerous blockchain usage scenarios, performance issues must be addressed before widespread application deployment. While traditional systems are able to process thousands of transactions per second, the BTC blockchain can handle up to seven transactions per second. The Ethereum network is able to process 15 per second. 

Issue #2: The blockchain industry is expanding rapidly, but still, there is no standard that will allow different networks to cooperate with each other. 

Issue #3: Reducing costs is one of the biggest challenges of blockchain. Statistics suggest that it costs more than $21,089 to mine just one bitcoin in the US. 

Issue #4: Existing regulations around the world do not cover some of the main components of blockchain technology, such as smart contracts and international transactions. This uncertainty can slow down investments in technology and the adoption of new solutions. 

Issue #5: Deloitte’s report about the state of blockchain in 2020 suggests that blockchain companies need to collaborate so technology can promote further development of applications, education, and standardization.

However, with blockchain usage statistics showing rising adoption trends, the market had to find ways of dealing with multiple issues of how cryptocurrencies can be used. Ethereum has managed to shift from the power-intensive process of verifying transactions to an eco-friendly solution and is now building up its infrastructure to be able to handle around 100,000 transactions per second rather than 15.

In the meantime, Bitcoin Lightning Network, which is already up and running, can handle up to one million transactions per second. 

IBM has about 1,500 employees working on more than 500 blockchain projects. 

(CNN, IBM)

The industries in which IBM implements the technology are shipping, banking, healthcare, and food safety. 

For example, IBM’s intelligent logistics platform, RoadLaunch, integrates Internet of Things technology, Linux Foundation’s Hyperledger blockchain, and AI. Statistics and other data sets, automation, finance transactions, freight and fleet visibility, and all other logistics aspects will be covered by a single platform and revolutionize the way logistics and transportation companies operate. 

US spending on blockchain-based products and services is expected to reach $41 billion by 2025. 

(Statista)

Spending on blockchain solutions in the United States increased by 110% during 2018 and has been increasing steadily year after year.

From 2016 to 2022, the US has consistently had the lead in regard to blockchain spending. The latest data indicates a total expenditure of $4.2 billion, followed by $2.9 billion invested by Western European countries.

It is expected that blockchain-based projects will add more than $360 billion of value to businesses by 2026. 

(Gartner)

Gartner predicts that the projects’ value will surge to over $3.1 trillion by 2030 when blockchain becomes a mainstream technology. 

New Kids on the Blockchain: 44% of gamers have either purchased or traded game items using blockchain tech. 

(Statista)

The blockchain-powered gaming marketplace has some serious advantages over traditional solutions.

  Blockchain marketplaces Traditional marketplaces
Money withdrawal Yes No
Games which support virtual items trading Indefinite 3 games
Virtual item's unique history Yes No
Automated payments Yes No
Third party involvement No Yes
Virtual items creation Yes No

Gaming on the blockchain vs. traditional gaming marketplaces. (Gartner)

Thanks to decentralized ledger technology, blockchain users around the world can buy, exchange, and even create and sell gaming items, which will surely change the gaming industry as we know it. 

Some of the world’s largest banks are investing about $50 billion to build a blockchain-based digital cash settlement system. 

(Reuters)

According to a Reuters report, the banks include UBS, Banco Santander, Bank of New York Mellon Corp, State Street Corp, Credit Suisse Group AG, Barclays PLC, HSBC Holdings Plc, and Deutsche Bank AG.

The system is called Fnality, and it aims to improve the efficiency of clearing and settlement in the financial market. 

It is expected that the global spending on blockchain in the healthcare market will hit $5.61 billion by 2025. 

(BIS Research)

When it comes to data breach-related costs, IT costs, operations, personnel, and reductions in fraud or counterfeit products, the adoption of blockchain could save the healthcare industry up to $150 billion. 

Blockchain has the potential to make the drug supply chain more efficient, improve data accuracy and management, find the most appropriate professionals more quickly, and help providers stay on top of compliance and government regulations. 

In 2022, around 4.2% of the global population used blockchain technology and owned cryptocurrencies.

(8-bit.io, Statista, Triple A)

Researchers agree that the technology will not reach mainstream adoption for at least five years. However, investing in blockchain represents a smart step in the long term.

The most infamous (and largest) blockchain hack happened at the Mt. Gox cryptocurrency exchange. 

(CoinSutra)

The attack occurred in 2014 when Mt. Gox was handling about 70% of the world’s Bitcoin exchanges. Soon after that, Mt. Gox ceased operations and filed for bankruptcy. More than 750,000 BTCs (around $14.02 billion at the time of writing) were stolen from the exchange.

This isn’t the only time an incident like this happened, and exchanges are always under threat of attack. As such, it’s important to do your research and only entrust your cryptocurrencies to the best exchanges you can find.

Bitcoin Stats & Facts

Bitcoin’s blockchain electricity consumption generates carbon emissions comparable to the levels produced by Kansas City or countries like Jordan and Sri Lanka. 

(Joule)

Bitcoin miners generate annual emissions of carbon dioxide of between 22 and 22.9 megatons, according to a Technical University of Munich study published in the journal Joule. The study suggests that carbon dioxide emissions would be twice as high if other cryptocurrencies were taken into account. 

The highest-ever price for a single Bitcoin: $68,780. 

(CoinDesk, CNBC, Live Coin Watch)

BTC prices reached an all-time high on November 10, 2021. The world’s best-known cryptocurrency gained value for the first time in October 2009, when 5,050 BTC were sold for a little more than $5. The current Bitcoin price, as of December 2022, is about $17,000.

If you’re doing your own Bitcoin research, you may have come across the term sats crypto. Sats is short for Satoshis, the smallest unit of BTC. One Satoshi equals 0.00000001 BTC or one hundred millionth of a Bitcoin. 

At the time of writing, the global Bitcoin hash rate was 242,520,000 TH/s. 

(Blockchain.com, Bitcoin.org, Techopedia, YCharts)

A hash rate is defined as the number of hash operations in a given time period. It’s a useful measure for the processing power of blockchain networks. For example, when the blockchain network reaches a hash rate of 10 TH/s, it means that it makes 10 trillion calculations per second. 

The current size of the Bitcoin blockchain is 431.82 gigabytes. 

(Bitcoin.com, YCharts, Bitcoin.com)

The Bitcoin blockchain expands to hold all the blocks and transactions. The average transaction fee in October 2022 was seven satoshi per byte. 

The maximum number of Bitcoins that can be mined is 21 million. 

(CoinSutra, Blockchain.com, IT Pro)

According to some blockchain predictions, the last BTC will be mined in the year 2140. Almost 18 million Bitcoins have been mined so far. 

And what is cryptocurrency mining?

Every time a new BTC blockchain or another crypto transaction is made, it must be added to the blockchain. A miner is rewarded with a small amount of cryptocurrency for carrying out two tasks: validating transactions and guessing a unique 64-digit hexadecimal code (hash). 

For this purpose, powerful mining hardware is used. This time-consuming method may cost you more on your electric bill than you earn in cryptocurrency. However, there are easier ways to get your share of digital currencies. 

Crypto enthusiasts use digital currency exchanges to buy cryptocurrency coins for fiat money or to trade them for another altcoin. Since the value of cryptocurrencies is highly volatile, using forecast and prognosis tools (such as Wallet Investor predictions, for example) is a good approach.  

Examples of the world’s most trusted cryptocurrency exchanges include Binance, Bitmex, CEX, KuCoin, Bittrex, Kraken, and CoinMama. 

More Bitcoin mining stats: In 2022, 37.8% of the BTC mining hash rate is located in the US.

(University of Cambridge, Statista)

The situation has changed drastically since 2020, when 65% of BTC mining pools were located in China. The reason for the drastic change was the Chinese government’s crackdown on cryptocurrencies. Now, the country is responsible for 21.1% of the global Bitcoin hash rate.

A mining pool is created when cryptocurrency miners combine their computer resources over a network. Each member of the mining pool receives a reward - a share of the mined cryptocurrency - according to their contribution in finding another block. 

The Asia-Pacific region has the largest percentage of Litecoin mining pools (52%). You can find the latest news and useful information about the Litecoin market on Reddit

When it comes to mining statistics for other cryptocurrencies, 21% of Ethereum, 37% of ZCash, 34% of Monero, and 28% of LTC mining pools are located in North America. Most Ethereum mining pools are located in Europe (49%). 

The first Bitcoin transaction occurred in 2010 when two pizzas were bought for 10,000 BTC. 

(Yahoo News)

On May 17, 2010, Laszlo Hanyecz bought two Papa John’s pizzas for 10,000 BTC. If we take into account how much bitcoin is worth today, it would mean that Laszlo (aka Bitcoin Pizza Guy) paid about $187,640,000 for the meal.

The day of the transaction is known as Bitcoin Pizza Day among blockchain and crypto enthusiasts.

(Reuters)

El Salvador is the first country in the world to use BTC as a legal tender, with the idea that it will help with financial inclusion, innovation, tourism, and the general economic development of the country. 

The number of Bitcoin transactions per day ranges from 300,000 to 260,000.

(YCharts)

While the main Bitcoin network is limited in the number of transactions it can process, it reached some significant numbers in 2017 when 490,644 transactions were made on December 14. 

This is without considering the Lightning Network, a decentralized network that implements smart contracts to process transactions instantly. It can process up to million transactions per second, and it’s great for Bitcoin microtransactions. 

Alt Coin Stats & Facts

Alt Coin or Altcoin - A common term for cryptocurrencies other than Bitcoin. (WhatIs.com)

The current Ethereum (ETH) market cap is $152.56 billion. 

(CoinMarketCap, Blockgeeks)

ETH is the second-largest cryptocurrency by market capitalization. In terms of crypto, market capitalization (crypto market cap) is defined as the circulating supply of tokens or coins multiplied by the current price. 

Ethereum’s creator is Vitalik Buterin, a Canadian programmer of Russian origin who entered the cryptocurrency world by writing blogs about Bitcoin. 

What makes the Ethereum blockchain different from Bitcoin’s is that it allows developers to create decentralized applications (DApps) and smart contracts. Smart contracts are computer programs that facilitate the exchange of money, property, shares, content, or anything of value between two parties without the need for an authority (a lawyer, for example). 

During 2018, crypto mining malware activity rose by more than 4,000%. 

(Investopedia, McAfee)

Cryptojacking is the use of a computer’s processing power to mine cryptocurrencies without the consent or knowledge of the owner. It typically happens when a user unknowingly installs software that secretly mines crypto.  

BitShares is an asset exchange platform (similar to the New York Stock Exchange) that works on the blockchain. 

(BitCoinWiki, Reddit)

BitShares and its native cryptocurrency were designed by an American programmer named Dan Larimar.

What makes the exchange different from the New York, Shenzhen, and London stock exchanges is that it is focused on cryptocurrencies, without the need for a central authority to handle all the funds. 

The Bitshares Reddit community has about 7,000 members; this subreddit is a useful resource for all existing and future users of the platform.

The VeChain platform is an example of the integration of blockchain and Internet of Things technology.

(BitcoinWiki)

VeChain allows manufacturers to assign RFID identifiers to products which then record information onto the blockchain. Its native digital currency, VET, currently occupies 37th place on CoinMarketCap's cryptocurrency ranking list. It’s supported by a huge VeChain Reddit community.

Ripple (XRP) is the sixth-largest cryptocurrency by market capitalization. 

(CoinMarketCap, New York Times)

Ripple has created a $300 million fund to motivate companies to start using its platform for money transfers across international borders. The company currently owns $30 billion worth of XRP. The fund is intended to get those coins into the hands of new users. 

Fun fact: The company organized a private concert by the rapper Snoop Dogg for XRP enthusiasts. 

There are more than 19,000 different crypto assets as of 2022. 

(Live Coin Watch)

The blockchain market size is growing rapidly, as the growing number of projects in the industry shows. Everyone is trying to innovate and capitalize on the success of Bitcoin, and some projects like Ethereum, Cardano, Solana, Polkadot, and Polygon have been highly successful. 

More than 80% of the crypto market value is held by the top 10 cryptocurrencies according to their market capitalization. 

(Live Coin Watch)

Similarly, there’s no need to consider the top 100 blockchains by transaction volume as the biggest cryptocurrencies, like Bitcoin, Tether, and Ether, make up almost the complete daily volume. 

Blockchain by Country Stats & Facts

More than 20 countries have adopted, rejected, or researched the concept of a national cryptocurrency.

(Cointelegraph)

Tunisia was the first country in the world to issue a blockchain-backed national currency back in 2015. In December of the following year, Senegal issued its own blockchain-based digital currency called eCFA, named after its regular currency, the CFA Franc. The Marshall Islands adopted another legal tender next to the US dollar in March 2018, a cryptocurrency called Sovereign or SOV. 

Among the countries that have considered but dismissed the idea of a central bank digital currency are Ecuador, Estonia, Switzerland, Hong Kong, and Germany. Japan says it won’t issue its own cryptocurrency, but it has recognized Bitcoin as an official means of payment. 

Uruguay, Dubai, Singapore, and Iran are reportedly involved in ongoing experiments with central bank-issued digital currencies. Developed economies such as Canada, the United Kingdom, Norway, Sweden, China, and Israel are in the research phase. 

Ten countries are leading the way when it comes to blockchain implementation. 

(Blockchain Council)

As of 2021, the countries that are paving the way for future blockchain implementation and innovation are Japan, China, Lebanon, Switzerland, South Africa, the United Kingdom, Singapore, the Bahamas, the United States, and Estonia.

While the Chinese government actively supported crypto and smart contract platforms that were developed on its territory, namely TRON, NEO, VeChain, and many others, it changed its stance towards the industry. Nevertheless, China remains the starting point for thousands of blockchain startups, and the largest banking institutions in the country are implementing blockchain technology as well. 

The Swiss town of Zug became the first city in the world to accept crypto payments for tax purposes. Known as CryptoValley, Zug is home to some of the world’s leading blockchain companies. The first test of a blockchain-based voting system was successfully completed here in 2018. 

Zug authorities have announced the launch of a decentralized digital ID system that will work on the Ethereum platform. Zug-based non-profit Crypto Valley Association is working to create the world’s leading blockchain ecosystem. 

The Estonian government has used blockchain technology to digitize all its services, including the health records of around 1.3 million citizens. The country’s business environment is extremely favorable for crypto companies, featuring tax-free undistributed profits and 100% online cross-border management. Thus, top blockchain companies have chosen to do business in this country. 

In the United States, the IRS has issued official guidelines for the taxation of cryptocurrencies. The Securities and Exchange Commission monitors all activities related to ICOs. In America, cryptocurrency profits are subject to taxation. Fortunately, there are many crypto tax software solutions out there that can make the process easier for you.

Cryptocurrency Demographics 

63% of all investments in cryptocurrencies are made by men.

(Bridging & Commercial, eToro, Triple A)

The cryptocurrency demographics have changed significantly since eToro’s survey conducted a few years ago, when 91.5% of all investments in crypto were made by men. Surveys also suggest that when women do invest, they generally choose the most profitable cryptocurrencies.

(Forbes)

Studies have shown that 31% of people in the 19 to 29 age bracket have used cryptocurrencies, whereas only 21% of those aged 30 to 49 did. Furthermore, they aren’t particularly popular among those above the age of 50, as only 8% of those in the 50-64 bracket and 3% of people aged over 65 used them.

Additionally, surveys indicate that income isn’t a major factor when it comes to cryptocurrency use, as 17% of people with upper and middle income, as well as 15% of those with lower income, have used cryptocurrencies.

FAQ

What is the growth rate of blockchain?

+

According to research done by Custom Market Insights, the global blockchain technology market will grow to $69 billion by 2030 at a CAGR of 68% between 2021 and 2026.

How many blockchains are there?

+

While more than 19,000 crypto assets are currently in the market, there aren’t as many blockchains. Some crypto tokens rely on projects such as Ethereum or Tron and use their infrastructure to run.

How big is the blockchain data?

+

It depends on the project. For example, Bitcoin’s blockchain size is 443.23 GB at the time of writing this article. Ethereum blockchain size was 1086.68 GB in December 2022.

Is blockchain a growing industry?

+

All blockchain statistics point toward growing trends in the cryptocurrency industry. Even though the industry is in a bear market, there are promising headways made with numerous projects, and more people than ever own cryptocurrencies.

Sources

About author

For years, the clients I worked for were banks. That gave me an insider’s view of how banks and other institutions create financial products and services. Then I entered the world of journalism. Fortunly is the result of our fantastic team’s hard work. I use the knowledge I acquired as a bank copywriter to create valuable content that will help you make the best possible financial decisions.

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