ChainCatcher news, Crypto.com’s latest market size report shows that the number of global cryptocurrency holders has grown significantly in the first half of 2024. The total number of holders increased 6.4% to 617 million as of June from 580 million at the end of 2023. Bitcoin (BTC) holders increased by 5.9% to 314 million, accounting for 51% of total holders; Ethereum (ETH) holders increased by 9.7% to 136 million, accounting for 22%.

The growth was primarily driven by key developments in the BTC and ETH ecosystems, particularly the launch of spot ETFs related to both digital assets.

The launch of the US spot Bitcoin ETF and the fourth halving event in April are the main drivers of BTC adoption growth. ETH growth was primarily driven by March’s Dencun upgrade, which significantly reduced Layer-2 network transaction fees and improved scalability.

Institutional investors have played a key role in this growth, with U.S. spot Bitcoin ETFs attracting more than $14 billion in inflows as of the end of June. Despite significant growth in the first half of the year, the market faces recent challenges in breaking through all-time highs due to macroeconomic pressures and worsening geopolitical tensions in the Middle East.