The Cambridge Centre for Alternative Finance (CCAF) has published its inaugural Global Cryptocurrency Benchmark Study, offering a comprehensive analysis of digital currency ecosystems worldwide. As noted in the report: "The monetary and financial world is transforming before our eyes."
Key Research Insights
1. Industry Structure and Operations
- Exchanges dominate sector activity, with strong geographic dispersion
- Licensing varies by size: 52% of small exchanges hold formal licenses vs. 35% of large operators
- China's regulatory developments may soon reshape this landscape
2. User Adoption Metrics
- 5.8–11.5 million active cryptocurrency wallets exist
- Estimated 2.9–5.8 million individual active users (assuming 2 wallets/person)
- 52% of wallets support integrated currency exchange
3. Payment Infrastructure
- 79% of crypto payment firms maintain banking partnerships
Transaction breakdown:
- Fiat-to-crypto: 66%
- Fiat-to-fiat: 27%
- Crypto-to-crypto: 6%
4. Mining Concentration
- Large mining pools show geographic clustering, particularly in specific Chinese provinces
- China and US host ≈75% of major mining operations
- Industry employs ≈1,800 full-time staff worldwide
Market Evolution
While Bitcoin remains the dominant cryptocurrency (72% market share vs. 86% two years prior), emerging alternatives are gaining traction:
👉 Ethereum, Dash, and other altcoins now represent 28% of the market. Nearly 40% of wallets support multiple cryptocurrencies, signaling growing diversification.
"This benchmark demonstrates how digital assets are undergoing profound changes across trading, storage, and circulation paradigms," noted CCAF co-founder Robert Wardrop.
Emerging Challenges
- Scalability solutions remain a top concern for miners
- Taxation policies show divided attitudes among operators
- Banking relationships prove critical yet difficult to maintain
The total cryptocurrency market capitalization now approaches $27 billion—comparable to major tech startups like Airbnb.
FAQ: Global Cryptocurrency Trends
Q: How many people actively use cryptocurrencies?
A: Between 2.9–5.8 million individuals based on wallet activity.
Q: Which countries lead in crypto mining?
A: China and the United States host 75% of large-scale mining operations.
Q: Is Bitcoin losing market dominance?
A: Yes, its share dropped from 86% to 72% as competitors like 👉 Ethereum gain adoption.
Q: What's the biggest challenge for crypto payments?
A: Maintaining banking partnerships, according to 79% of payment firms.
Q: Are cryptocurrencies here to stay?
A: The $27B market capitalization suggests long-term viability beyond speculative phases.
Blockchain technology research from CCAF will be released in coming weeks.