Cryptocurrency adoption is growing rapidly and could expand to billions of users by 2030 if current trends continue.
Growth rates, leading forces in developing countries, and forecasts from multiple organizations suggest that adoption, not short-term price fluctuations, is the main driver for the cryptocurrency market.
- The rate of growth of cryptocurrency users is now faster than in the early days of the internet.
- Adoption is the long-term driver; short-term price movements are largely influenced by fiat.
- Developing countries lead the way in adoption; many organizations forecast 1–4 billion users by the end of the decade.
Growth rate and forecast to 2030
Cryptocurrencies are being heralded as growing faster than the initial internet boom, with billions of users predicted by 2030 if trends continue.
Aggregate data shows that the cryptocurrency user base is growing rapidly: by the end of 2024, it will reach around 659 million users, an Medium annual growth rate of 137% over nine years. In comparison, the internet had around 187 million users in 2000 and an Medium annual growth rate of 76%.
Comparing 5 million internet users to 5 million cryptocurrency wallets shows that cryptocurrencies are spreading at twice the rate; if they continue, the number of users could reach 4 billion by 2030 and the market value could go from $4 trillion to $100 trillion in the early 2030s.
Raoul Pal, CEO Real Vision, tweet, 2024
Adoption is the long-term driver
The fundamental driver of cryptocurrency's long-term strength is adoption, not short-term price volatility.
According to the cited analysis, about 90% of short-term price movements of cryptocurrencies are influenced by fiat devaluation; meanwhile, long-term performance against fiat depends on how many people actually use and adopt the technology.
About 90% of crypto's short-term price movements are driven by fiat devaluation; long-term strength comes from adoption.
Raoul Pal, CEO Real Vision, tweet, 2024
Industry forecasts from organizations
Various industry reports give different ranges: from tens of millions of monthly active users to forecasts of hundreds of millions or billions of users by 2030.
For example, a report by Andreessen Horowitz estimates there are around 30–60 million monthly active cryptocurrency users; Boston Consulting Group predicts adoption could reach around 1 billion users by 2030. Other forecasts, based on current momentum, project larger scenarios if the trend continues.
Boston Consulting Group predicts cryptocurrency adoption could reach around 1 billion global users by 2030.
Boston Consulting Group, report, 2024
Leading countries and geographic trends
Low- and Medium income countries are leading the way in cryptocurrency adoption according to the global index, with several Asian, African and Latin American countries standing out.
According to Chainalysis’ 2024 Global Cryptocurrency Adoption Index, India, Nigeria, and Vietnam are among the leaders in adoption; the United States follows in fourth place. These countries often have high adoption rates due to the need to transfer money, lack of access to traditional financial services, or strong interest in digital investments and payments.
The Global Crypto Adoption Index 2024 shows that low- and Medium income economies lead the way in adoption, with India, Nigeria and Vietnam among the top performers.
Chainalysis, Global Crypto Adoption Index, 2024
Risks and factors to watch for
Price volatility, regulation, and user metrics (multiple wallets per individual) are factors to consider when evaluating adoption.
Some metrics like wallet count can be affected by secondary wallets, multiple devices, or VPNs, so a combination of multiple indicators (monthly active wallets, on-chain transactions, payment volume) should be used to understand actual adoption.
Frequently Asked Questions
How many users can cryptocurrency reach by 2030?
Forecasts vary: some organizations estimate around 1 billion users, while some more conservative analyses suggest that the expansion scenario could reach several billion if the growth momentum continues.
Which factor is most important for long-term growth?
The most important factor is adoption — the acceptance of cryptocurrencies by users and institutions for transactions, storage of value, and financial services.
How to measure actual adoption?
Use a combination of metrics: monthly active wallets, on-chain transactions, payment volume, and user data from exchanges to reduce bias due to multiple wallets per person.
Which regions are leading the adoption?
Low- and Medium income countries such as India, Nigeria, and Vietnam are experiencing high adoption, driven by the need for payments, remittances, and access to digital financial services.
