NEW YORK—The majority of United States-based crypto holders who were active during the highs of the 2021 bull market stuck around for the 2022 bear trend, a new report reveals.
The U.S. Federal Reserve’s Economic Well-Being of U.S. Households in 2022 report said 10% of U.S. adults held or used crypto assets in 2022, down just two percentage points from the previous year, The Defiant stated in its analysis.
Despite all of the recent market turmoil, the share of U.S. adults using cryptocurrency declined only slightly year-over-year.
“Meanwhile, investment fervor slowed, with 8% of users stating they purchased crypto as an investment, compared to 11% the previous year. Only 2% of adults said they used crypto for payments and purchases during both years,” The Defiant noted.
Share by Demographic
The biggest share of crypto users (15%) were between 30 and 44 years old, followed by 14% of adults aged 18 to 29 who used crypto, 10% of respondents aged 45 to 59, and just 3% aged 60 years or older, according to the data.
Meanwhile, 18 to 29-year-olds represented the smallest band of age groups analyzed by The Fed, indicating crypto adoption still skews heavily towards younger users, The Defiant noted.
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