Crypto Owners May Double in 2023: Report

Paigambar Mohan Raj
Source: BQ Prime

Despite difficult macroeconomic conditions, the increase in crypto usage has been significant in 2022. The number of cryptocurrency owners surpassed the 400 million mark in November 2022, hitting 402 million. According to, the average monthly growth rate in adoption over the year was 2.9%. Considering that 2022 was one of the worst years for the industry, the growth is commendable.

The exchange’s study noted that in 2023, global cryptocurrency owners could reach 600-800 million, nearly doubling in size.


What about other crypto sectors?

The study also highlights that we could see several AAA blockchain gaming titles in the next few years. Blockchain gaming was one of the least affected sectors in the 2022 market correction. This is attributed to the fact that the gaming industry caters more to innovation than profit-making.

Additionally, the report mentioned another possible market driver which might be the growing number of applications for Soulbound Tokens (SBTs). SBTs are non-transferable and non-tradable NFTs (non-fungible tokens). SBTs are linked to a specific person or thing. They contain the owner’s commitments and qualifications to convey social identity.

In 2023, anticipates greater emphasis on user education and security. We may see more investments in security certifications and audits in 2023. However, the firm also expects to see more educational programs launched in this area, following the trend from 2022. also noted other areas which could see growth in the next year. Among them are zk (zero knowledge) proof adoption, utility-based DeFi applications, and new blockchain infrastructure. The study also highlights an expected increase in institutional investments in the crypto sector, which took a hit in 2022.

Nonetheless, there are plenty of lessons to be learned from this year. With the disastrous 2022 coming to an end, the coming year could turn out to be a year for growth and development.

At press time, the global crypto market cap stood at $832 Billion, down by 1.8% in the last 24 hours.