Statistics show that Digital Asset, including cryptocurrencies, NFT, and DeFi, will experience a double-digit increase in growth in 2024, with the market reaching more users and generating more revenue than ever.
After a 37% plunge in 2022, the global digital assets market reflected a skyrocket of an impressive 127% in 2023 and hit $60.1 billion in revenue.
According to data presented by AltIndex.com, combined crypto, NFT, and Defi revenues are expected to jump by 33% year-over-year and hit more than $80 billion in 2024.
Also, Statista, in its survey, stated that over 700 million people used some digital asset last year across the globe, with cryptocurrencies such as Bitcoin, Ethereum, Tron or XRP as their number one choice.
This massive user base has helped the market gross $60.1 billion in revenue, 127% more than in 2022.
Digital asset ownership continues rising, with more people than ever investing their money in digital commercial items that have value and can be bought, sold, or traded like traditional assets.
Statistics show all market segments will see double-digit growth this year, with decentralized finance (DeFi) as the absolute winner.
Statista expects global DeFi revenue to jump by an impressive 47.5% year-over-year and hit $26.1 billion, making 32% of the market`s total. A figure which would be more impressive when compared to cryptocurrencies, the largest and the highest-grossing segment in the digital assets space.
Statistic which also shows that although there would be a significant drop in the annual growth rate, has it that revenue in the digital assets market will still increase by an impressive 33% year-over-year and hit over $80 billion in 2024.
However, 2024 is on track to set a new record, both in revenue and the number of users. Nearly half of the expected value for 2024, or $36.8 billion, will come from the United States, the world`s largest digital assets market. Far below, the United Kingdom follows with $3.8 billion in revenue.
Cryptos are expected to make a total market revenue worth 64% of about $51.3 billion in 2024 but will see only half of DeFi`s growth. NFTs will also see much bigger growth than cryptocurrencies, with revenues jumping by 41.5% year-over-year to $2.4 billion.
Currently, more than 700 million people worldwide use digital assets, and crypto users make up 95% of that number. However, Statista expects the number of users in the digital assets market, including cryptos, DeFi, and NFTs, to jump by 24% and hit over 865 million in 2024.
The DeFi segment is expected to gain 2.3 million new users this year, one million more than the NFT market, while more than 160 million people will flock to cryptos. By 2028, the entire market will have more than one billion users worldwide.
