Cryptocurrency Statistics and Trends 2024 – Forbes Advisor UK

Cryptocurrency is an extremely risky and complex investment. Only invest if you are prepared to lose all the money you invest. You are unlikely to be protected if something goes wrong. Forbes Advisor has provided this content for educational purposes only and not to help you decide whether or not to invest in cryptocurrency. If you decide to invest in cryptocurrency or any other investment, you should always obtain appropriate financial advice and only invest what you can afford to lose.

The main cryptocurrencies in the world

(including market capitalization and price of individual token as of June 6, 2024, CoinMarketCap)

– Price: £55,480

– Market capitalization: £1.09 trillion

Bitcoin Price

– Price: £3,009

– Market capitalization: £361 billion

Ethereum Price

– Price: £0.78

Market capitalization: £87 billion

Price: £554

Market capitalization: £81 billion

– Price: £0.41

– Market capitalization: £22 billion

Consumer Awareness of Crypto (FCA)

• Here are the cryptocurrencies people are most familiar with:

Crypto Exchanges

• According to Statisttrading volume in the cryptocurrency market as a whole reached a peak of $500 billion on May 19, 2021.

Trading volume data provided by crypto exchanges is not necessarily an accurate indicator of trading activity, as some exchanges have inflated their numbers in order to improve their visibility and attract new investors. (Source: Investopedia and Nasdaq.com.)

Who holds cryptocurrencies in the UK and how much?

As of February 2022, it was estimated that 10% of UK adults held or had held some form of crypto asset (UK GOVERNMENT):

• 82% of them still currently hold their assets

• This is in line with FCA research indicating that almost 4.97 million people in the UK hold some form of crypto token (FCA)
• As of February 2022, 53% of crypto holders currently hold £1,000 or less in crypto, and 7% hold more than £5,000 (UK GOVERNMENT)
• 76% of crypto holders are under the age of 45, and 69% of them are men (UK GOVERNMENT)

How people reported the performance of their crypto investments (UK GOVERNMENT)*

• 14% reported a loss
• 14% said they broke even
• 63% reported making a profit
• Average profits and losses would be less than £500.
• 8% of owners reported profits over £12,500

*HMRC survey carried out between February 15 and June 22, 2021

According to a survey of lendingtree.comconducted in November 2022, a higher percentage of 38% of cryptocurrency investors reported losing money rather than profiting, 28% reporting making a profit, and only 13% breaking even.

Please note, past performance is no guarantee of future results. Cryptocurrency is an extremely risky investment. If you decide to invest in cryptocurrencies, you should always obtain appropriate financial advice and only invest what you can afford to lose.

Understanding the nature of cryptocurrency (FCA)

• While 90% of crypto users understood what cryptocurrency was, only 58% claimed to have “a good understanding of how cryptocurrencies work and the technology behind them.”

• 12% of cryptocurrency users wrongly believed that crypto investments had some sort of financial protection.

Amount held in crypto by investors (FCA)

• £1 to £260: 26.4%
• £260 – £1,000: 12.3%
• £1,001 – £9,999: 12.3%
• £10,000+: 6.6%
• Unknown (according to the FCA): 42.4%

Amount held in crypto according to annual household income (FCA)

– £1 – £260: 40%

– £260 – £1,000: 5%

– £1,001 – £9,999: 7%

– £1 – £260: 25%

– £260 – £1,000

– £1,001 – £9,999: 13%

– £10,000+: 6%

– £1 – £260: 25%

– £260 – £1,000: 13%

– £1,001 – £9,999: 15%

– £10,000+: 12%

– £1 – £260: 18%

– £260 – £1,000: 17%

– £1,001 – £9,999: 11%

– £10,000+: 3%

Sentiment regarding cryptocurrency

• Survey from crypto payments company Triple A says 70% don’t invest in cryptocurrency due to lack of knowledge (Triple-A)
• 68% of cryptocurrency holders say they are very or somewhat likely to acquire more in the future, compared to 10% of those who do not invest in cryptocurrencies (UK GOVERNMENT)
• 52% of crypto holders said they held them as a “fun investment” (UK GOVERNMENT)

Resources:

Cryptocurrency is not regulated in the UK. The British regulator, the Financial Conduct Authority, has repeatedly warned investors that they risk losing all their money if they buy cryptocurrencies, without the possibility of compensation.

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