How Many Are We?

Last January, Crypto.com published a report on the number of crypto-owners. According to the report, there were 300 million crypto holders worldwide, estimated to reach 1 billion by the end of 2022. It is a study based on Bitcoin and Ethereum wallet movements in centralized exchanges. The study had a reasonable methodology, and the crypto market accepted the calculation.

We do not know the current number of crypto investors, as a new study version has not been published. Crypto prices are affecting adaptation. For example, the number of Bitcoin wallets, which more than doubled last year, has increased by only 5 percent since the beginning of the year. On the other hand, the understanding of crypto investment is changing rapidly. In line with the trend that became evident last year, crypto assets are shifting towards decentralized platforms.

What Does "We" Mean?

In the headline, I ask how many we are. It is possible to interpret the word "we" as Leo Finance, Hive, and the crypto community.

The number of people who publish posts, commands, and threads using the Leo Finance frontend is around a thousand. We can follow the weekly statistics of Leo Finance on the @leo.stats account.

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The number of Hive users is around 400k. In the chart below, created by @arcange, we see that the Hive price also affects the number of users.

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The decline in the number of users is not as pronounced as the 2019-2020 bear market. Anyway, now there's a game involved. The increase in users in the fall of 2021 was related to Splinterlands reaching the tipping point.

We do not know precisely how many people are crypto users. In addition to the work done by Crypto.com, a Triple A report was recently published. According to the report, there are more than 320 million crypto owners worldwide. The distribution of these people by continent is shown in the information as follows.

The Profile of Crypto Users

The Triple A report also provided important information about crypto holders' demographic and socioeconomic profiles.

According to the report, crypto investors have above-average incomes and are highly educated. For example, two-thirds of crypto investors in the US have a university or post-graduate degree.

Also, more than 80% of crypto holders are under 45. Especially for western countries, this distribution indicates a young audience.

In summary, it is possible to say that crypto owners are young, highly educated, and high-income. It is the profile that marketers would like to address.

Core Crypto Users

Should users whose only relationship to crypto is to buy coins from a centralized exchange be included in "we"? I think the use of a non-custodial wallet is an important criterion.

It seems appropriate to define those who use dapps with non-custodial wallets as core crypto users. A central authority can't block these users. Moreover, they have access to many decentralized applications through dapps.

Dappradar provides us with statistics on the number of users of significant dAPPs. The total monthly users of the 50 most used Dapps is 11.1 million. Considering that there may be people using multiple applications, we can assume that the number of core crypto users is around 10 million.

Conclusion

The statistics above show that members of the Hive community are still among the early adopters of crypto. Digital asset prices have dropped dramatically this year, yet crypto adaptation continued. It is not difficult to predict that transformation will accelerate when prices rise.

Today's crypto users are advantageous compared to the rest of the population regarding digital asset ownership and crypto literacy. Time is on our side.

Thank you for reading.

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