The total number of cryptocurrency holders worldwide is expected to hit the 1 billion mark by the end of 2022.

According to Crypto.com's recent study led by Henry Hon, the market's user base will increase by 708 million holders from the current 292 million as developed nations will "devise clear legal and taxation frameworks for crypto assets." The company also assumes more nations facing a highly inflationary economy and depreciating currency follow El Salvador in adopting cryptocurrency as legal tender.

The top-3 crypto population countries, according to data by TripleA, are India (100 million), the US (27 million) and Russia (17 million). Crypto.com's analysts say nations can no longer afford to ignore the "growing push toward crypto by the public."