Crypto market’s trading activity patterns might witness an anomaly going forward given the huge gap between the active and passive users. According to latest a16zcrypto report, only 30 to 60 million of the 617 million cryptocurrency owners worldwide are actual monthly active users.
The research highlights that there are between 30 and 60 million monthly active cryptocurrency users globally, which amounts to only 5 to 10 percent of the 617 million global cryptocurrency owners projected in June 2024.
The discrepancy emphasizes how much potential there is to interact with and re-engage passive cryptocurrency holders. The report argues that more inactive cryptocurrency holders may become active onchain users as significant infrastructure upgrades enable the development of innovative, captivating apps and user experiences.
Monthly Active Crypto Addresses Reach Record High
The gap between the genuine monthly active users cannot overshadow the fact that the number of active crypto addresses has skyrocketed to hit an all time high this year.
According to the report, the number of monthly active crypto addresses has never been higher. This number has more than tripled since the end of 2023, with 220 million addresses interacting with a blockchain at least once in September of 2024.
With almost 100 million active addresses, Solana is largely to blame for the surge in activity. Then came Tron with around 14 million addresses and taking the third place is Bitcoin with 11 million addresses.
The use of cryptocurrencies worldwide has seen a greater push with events like the Bitcoin ETF approval, Halving etc.
US Sees Highest Percentage Of Mobile Wallets
The impact of cryptocurrency is still growing with many nations trying to jump the bandwagon of digital assets. The United States of America at present has topped the list with the most active mobile wallet users.
The nations with the highest percentage of mobile wallet users, after the United States, are Nigeria (which has worked to clarify regulations, including through regulatory incubation programs), India (whose population is growing rapidly and mobile phone adoption is on the rise), and Argentina (where a large number of citizens have turned to cryptocurrency, particularly stablecoins, due to currency devaluation).
With America seeing a huge interest in cryptocurrencies, even the elections in the nation are seeing a huge impact of crypto in swing states.
According to Google Trends, interest in cryptocurrency searches has increased at the fourth and fifth-largest rates since the previous election in 2020 in Pennsylvania and Wisconsin, two battleground states predicted to have some of the most competitive elections in November.
As UnoCrypto reported earlier, one in five Americans currently own digital assets. There are precisely 52 million people. These folks are also often found in key swing states and have considerable influence.
The outcome of the US presidential election will be significantly influenced by the crypto community. Therefore, any government hoping to win an election would most likely have to win over Bitcoin aficionados.