Cryptocurrency Statistics and Trends 2024 – Forbes Advisor UK

Cryptocurrency is an extremely risky and complex investment. Do not invest unless you are willing to lose all the money invested. 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 worldwide

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

– Price: £55,480

– Market capitalisation: £1.09 trillion

Bitcoin price

– Price: £3,009

– Market capitalisation: £361 billion

Ethereum price

– Price: £0.78

Market capitalisation: £87 billion

Price: £554

Market capitalisation: £81 billion

– Price: £0.41

– Market capitalisation: £22 billion

Consumer Awareness About Cryptocurrencies (FCA)

• These are the cryptocurrencies that people are most aware of:

Cryptocurrency exchanges

• Second StatesmanTrading volume within the cryptocurrency market as a whole peaked at $500 billion on May 19, 2021

Trading volume data provided by cryptocurrency exchanges is not necessarily an accurate indicator of exchange activity as some exchanges have inflated their numbers to raise the profile of the exchange and attract new investors. (Source: Investopedia e Nasdaq.com.)

Who holds cryptocurrency in the UK and how much?

It is estimated that as of February 2022, 10% of UK adults hold or have held some form of cryptocurrency (UK GOVERNMENT):

• 82% of these currently still hold their assets

• This is consistent with FCA research that nearly 4.97 million people in the UK hold some form of crypto token (FCA)
• As of February 2022, 53% of those holding cryptocurrencies currently hold £1,000 or less in cryptocurrencies, and 7% hold more than £5,000 (UK GOVERNMENT)
• 76% of cryptocurrency holders are under 45 years old and 69% of them are men (UK GOVERNMENT)

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

• 14% reported a loss
• 14% reported breaking even
• 63% reported making a profit
• Both average profits and losses were reportedly less than £500
• 8% of owners reported profits above £12,500

*HMRC survey conducted between 15 February and 22 June 2021

According to a survey by lendingtree.comconducted in November 2022, a higher percentage of 38% of cryptocurrency investors reported losing money rather than making money, 28% said they made a profit, and only 13% broke even.

Please note that past performance is not an indicator of future results. Cryptocurrency is a high-risk investment. If you decide to invest in cryptocurrency, 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 cryptocurrency users knew what cryptocurrency was, only 58% said they had “a good understanding of how cryptocurrencies and the underlying technology work”

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

Amount held in cryptocurrencies by investors (FCA)

• £1-£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 cryptocurrencies based on 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%

– £10k+: 3%

Sentiment regarding cryptocurrency

• Cryptocurrency payments company Triple A’s survey indicates that 70% do not invest in cryptocurrency due to lack of knowledge (Triple A)
• 68% of cryptocurrency holders said 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 cryptocurrency holders said they consider them a “fun investment” (UK GOVERNMENT)

Resources:

Cryptocurrency is not regulated in the UK. The UK 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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