In 2024, the global cryptocurrency landscape has experienced remarkable growth, with the number of holders surging to 562 million, marking a 33% increase from the previous year’s 420 million, according to Belayer’s latest quarterly crypto market analysis.
Triple-A’s annual survey, which covers 56 countries, reveals Asia as the dominant region in cryptocurrency adoption. With 326 million users, Asia significantly outpaces North America, which follows with 72 million users.
South America, meanwhile, is witnessing the fastest growth in crypto adoption, driven largely by rampant inflation. The continent saw a staggering 115% increase in users over the past year, reaching 55 million.
The demographic breakdown of crypto asset holders shows that 61% are male, and 39% are female. A significant 72% of users are under the age of 34, and over 71% have completed a bachelor’s degree, indicating a youthful and educated demographic trend.
Bulgaria is making notable strides in the cryptocurrency sector. According to Triple-A’s survey, cryptocurrency ownership in Bulgaria stands at 6.10% of the population, equivalent to nearly 300,000 people as of mid-2024. This represents a doubling of the previous year’s figures, surpassing the European average growth rate of 60% annually.
In response to the rapid expansion and evolving needs of the crypto market, Europe is embarking on a significant initiative with the launch of Europeum, a new organization aimed at establishing a blockchain network across the European Union.
This project diverges from earlier expectations of an EU registry of digital cryptocurrencies and focuses instead on creating a unified blockchain infrastructure to modernize record-keeping and data transfer within the Union.
Europeum’s blockchain network, modeled after Ethereum, is anticipated to have a transformative impact on both consumers and businesses.
The blockchain will enable traceability of product origins, safeguard intellectual property through immutable records, and streamline legal and bureaucratic processes via automated smart contracts.
Furthermore, the initiative is expected to support the development of Web3 applications and assist in the introduction of the digital euro by the European Central Bank.
The European Digital Infrastructure Consortium (EDIC) concept, a key component of the Europeum initiative, aims to facilitate the creation of multinational projects and promote shared costs and management.
Initially, Europeum will include ten member countries: Belgium, Croatia, Cyprus, Greece, Italy, Luxembourg, Portugal, Romania, Slovenia, and potentially Poland. Other EU nations are anticipated to join the consortium in the future.
As the cryptocurrency sector continues to grow globally, these developments in Europe reflect a broader trend of increased adoption and innovation in the digital finance space.
The establishment of Europeum is set to play a crucial role in shaping the future of blockchain technology and digital infrastructure across the continent.