15 Surprising Stats About Crypto you need to know!
As days go by, cryptocurrency is growing to become the most common asset accepted. It has become a point of discussion by a more extensive set of individuals. Some decades ago, cryptocurrency was meant for individuals with technical understanding and a solid skepticism of specialized banking systems. But now, you can trade cryptocurrency on stock trading apps and Robinhood.
However, IRS has come to assign cryptocurrency as being inconsistent like other currencies in their way of taxing. Cryptocurrency is a standard currency stacked and stored through a blockchain.
Therefore, we’ve gathered 15 surprising statistics about cryptocurrency to eliminate any doubt about it being inconsistent. These statistics are about taxes, users’ demographics, and markets. They include:
- Cryptocurrency is termed the 8th Largest Global Economy with a total market cap of $2.16 trillion:
As of September 2021, cryptocurrency has grown to be the world’s 8th largest global economy. It indicates that many capital gain taxes will be paid by individuals who have purchased it and currently hold it above their basis. As time goes on, this can cause an increase in the number of capital gains.
- The total market capitalization of Bitcoin is 1 trillion:
For the first time, 2021 recorded a considerable difference in Bitcoin market capitalization. This indicates that if you want to buy every Bitcoin that exists, you will need nothing less than 1 trillion USD.
- Bitcoin hits 42% dominance for being the best-known cryptocurrency:
According to the exchange rate, Bitcoin has gained more ground than other cryptos.
- The daily trade volume of Cryptocurrency rose to $111 billion:
The market capitalization of Cryptocurrency rises as much as Cryptocurrency trade in high volumes. The assets rise of Cryptocurrency makes it more prominent.
- The global volume of stablecoin is $77.86 billion per day:
The global value of all stablecoin or tokens tied to a specific asset like USD or UER is on the average of $77.86 billion in a single day.
- As of February 2021, the Bitcoin blockchain is said to be over 320GB in size:
This increase in size is a result of an increase in the exponential growth of Bitcoin.
- Globally, Bitcoin transaction size surpasses 120 million:
Bitcoin represents a small but growing percentage of total digital payments. Although, this growth skyrocketed this year because 129 million is the result of last year’s transaction size.
- Average Digital transactions recorded in a year is about 100 per person:
This digital transaction doesn’t pertain to Cryptocurrency alone. Other transactions like digital orders and online payments are also involved.
- For every two seconds, you’ll always see a social media post about crypto:
In a recent analysis, 14,000 to 32,000 tweets appear about Cryptocurrency. Telegram holds live discussions about cryptocurrency, while Facebook has numerous groups bearing Cryptocurrency.
- 85.77% of Bitcoin audiences are male as opposed to 14.23% from females:
Bitcoin investors are primarily male. It shows more men are aware than women.
- If Cryptocurrency were to be a country, it’d be among the top 30 energy users worldwide:
This indicates how much crypto consumes energy.
- The estimated electricity ratio to total miner income is 22.13%:
Miners spend 22.13% of their income on electricity.
- 72% of Bitcoin mining is from China, and nearly 66% of electricity comes from coal:
China has the most prominent crypto mining, and most of its power production comes from coal.
- Approximately 70 million people use blockchain wallets worldwide:
One among five persons in Vietnam and the Philippines uses a blockchain wallet.
- The total volume of De-Fi let day is $9.24 billion:
The total volume of decentralized finance amounts to 8.52% of the total daily crypto market volume.