As cryptocurrency gains momentum worldwide, experts project a significant surge in adoption, potentially exceeding one billion users by 2026. According to Pavlo Denysiuk, CEO of Lunu, a leading crypto payments firm, current growth trends suggest the global community of crypto holders could triple within the next two years.
Speaking at NFT Fest 2024, Denysiuk outlined the rapid pace of adoption, noting:
Within two years, we anticipate two to three times more crypto holders globally. This uptrend signifies broader adoption across payments and beyond
The 2024 Cryptocurrency Ownership report by Triple-A estimates approximately 560 million crypto holders globally, underscoring that about 6.8% of the global population now engages with digital assets.
Denysiuk emphasized that mainstream adoption hinges on enhanced infrastructure, envisioning a future where major brands like Starbucks facilitate crypto payments seamlessly. He stated:
Crypto payment adoption is inevitable once ubiquitous infrastructure supports it. When you see a ‘we accept crypto’ sign at your favorite store, it becomes as routine as any other payment method
Highlighting the role of stablecoins, Denysiuk emphasized their critical function in simplifying transitions from fiat to digital currencies. Despite Bitcoin’s prominence, stablecoins like Lunu’s stablecoin-powered ecosystem play a pivotal role due to their price stability.
The stablecoin market currently stands at over $163 billion, constituting a substantial segment of the $2.11 trillion crypto market capitalization, as per CoinMarketCap data.
Addressing the challenges ahead, Chintan Turakhia, senior director of engineering at Coinbase, stressed the necessity of user-friendly applications to facilitate mass adoption. He remarked:
Eliminating friction points is crucial if we aim to onboard the next billion users into the crypto ecosystem
As the crypto landscape evolves, stakeholders anticipate further innovations and infrastructure developments to drive broader adoption globally.
