How far along is crypto adoption?

Every new technology has a tipping point. A phase where it moves from niche to mainstream. That shift often starts quietly but becomes clear when you look at the numbers. Crypto seems to be approaching that moment.

Crypto is a network

To truly understand crypto adoption, we need to place it in the right context. Cryptocurrencies are not stocks, not currencies, not apps. They are networks. Just like the internet or social media.

That makes them fundamentally different from traditional financial technology. Crypto is internet-native. It is designed for the internet, with the internet as its infrastructure. That is why it is often called ‘web3’, the third generation of the internet. Web1 was the early, static internet. Web2 brought interaction and platforms like social media. And web3 adds ownership. Instead of only producing user data, you can now own and transfer value on the internet. That is the essence of crypto.

How do you measure adoption?

The best way to measure adoption of such a network is by looking at the number of users. In crypto, we use the number of wallets as a proxy. It is not a perfect metric. People can have multiple wallets, just like they used to have multiple IP addresses. But it still offers a strong signal. Most importantly, it lets us compare adoption to previous technologies like the internet.

Where are we now?

According to several market studies, global crypto adoption currently sits at around 11 percent of the world population. The internet reached that same level around 2002 or 2003. Right at the moment when internet adoption began to accelerate rapidly. That pattern is typical for technology adoption. First it moves slowly, then it suddenly speeds up. The well-known S-curve. Crypto now stands at a similar tipping point.

Faster than the internet?

Interestingly, research from firms like BlackRock shows that crypto is growing even faster than the internet did. In the chart below you can see how almost every new technology is adopted more quickly than the one before, from electricity to smartphones. That makes sense. New technologies build on existing infrastructure.

Crypto benefits from the global spread of the internet, smartphones and digital payments. Studies suggest that crypto adoption is currently growing 20 to even 100 percent faster than the internet did in its early years.

The real growth is still ahead

Put all that together and a clear picture emerges. Crypto is still in the early stages of the adoption curve. Think of the internet in 2002. That also means the largest growth phase is still ahead. And if history teaches us anything, it is that these adoption waves tend to be faster and bigger than expected.