Cryptocurrency Industry Overview
|Study Period:||2019 - 2028|
|Fastest Growing Market:||North America|
|Largest Market:||Europe, Middle-East and Africa|
*Disclaimer: Major Players sorted in no particular order
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Cryptocurrency Market Analysis
Cryptocurrency is the new age financial innovation designed not only to become an alternative to cash but also to support the existing systems. The market has achieved XX USD billion market capitalization and is expected to register a CAGR of 60% over the forecast period.
Cryptocurrencies which are designed to use for peer-to-peer transactions without being liable to any government or a central bank are the latest financial innovations explored not only for the reasons of their being but also for potential risks and opportunities in the financial industry. There are thousands of cryptocurrencies with various design goals. These design goals are to provide a digital currency alternative to cash (Bitcoin, Monero, and Bitcoin cash), to support a payment system at low cost (Ripple, Particl, and Utility Settlement Coin), to support peer-to-peer trading activity by creating tokens (RMG and Maecenas), to facilitate secure access to a good or service in peer-to-peer trading (Golem, Filecoin) and to support underlying platform or protocol ( Ether and NEO). These design goals mentioned won’t be exhaustive as new cryptocurrencies are being created every week. Blockchain is the underlying technology for most cryptocurrencies.
The cryptocurrency market is segmented based on the market capitalization of a large number of cryptocurrencies. Cryptocurrencies overlap with key areas of the monetary and financial system. Given their rapid growth, complexity, high volatility, and potentiality for facilitating illicit activities, regulators and policymakers across the world are bothered about their inclusion into the existing system and revising the existing systems to fit them, if included.
Cryptocurrency Industry Segments
An understanding of the present status of the cryptocurrency market, along with detailed market analysis, their structural intricacies explained in simple terms, risks and opportunities, current regulatory frameworks, and impact on existing systems. In-depth analysis of the impact on monetary and fiscal policies.
|Americas (US, Canada, Latin America and Caribbean)|
|Middle East & Africa|
|By Market Capitalization|
Cryptocurrency Market Trends
This section covers the major market trends shaping the Cryptocurrency Market according to our research experts:
A brief on the Volatility in the Market Capitalization of Cryptocurrencies
With the evolving nature of this market with new cryptocurrencies created every week, it is difficult to know how big the cryptocurrency market is. A wide scope of market exchanges for cryptocurrency trading, spread across the globe because of their privacy protection features as well as rapid growth, extreme price volatility, and market illiquidity add to the complexity of the cryptocurrency market. The market capitalization of cryptocurrencies over the years shows how high the price volatility of the market is.
The estimated cryptocurrency market capitalization, for example, during January 2022, varied between 400 billion USD and 800 billion USD which was 566 billion USD at the beginning of the year 2022 and finally settled at 128 billion USD by the end of the year 2022. In terms of transaction volumes, bitcoin alone had the highest number of 200,000 average daily transactions.
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Adoption of Blockchain Technology Increasing on a Robust Pace
Enterprise adoption of blockchain technology has quietly reached a tipping point across multiple use cases. Companies that have recognized value from their initial pilot projects are now moving towards turning these projects into production. Specifically, there is still uncertainty about this technology in the areas of regulations and governance, but the adoption of blockchain for financial services, identity, trade, and other markets is increasing.
Global blockchain spending will be led by the banking industry followed by discrete manufacturing and process manufacturing with a combined market share of about 50% of overall spending. In the banking industry, the spending will be driven by two of the largest use cases – cross-border payments & settlements and trade finance & post-trade settlements.
Spending on blockchain solutions will be the highest in the United States followed by Western Europe and China. All the regions shown in the infographics are expected to see phenomenal growth in the coming years.
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Cryptocurrency Market Competitor Analysis
The report includes different segments like coin product developers, mining services, cryptocurrency exchanges, wallet companies, etc along with a note on recent mergers and acquisitions that shaped the ecosystem.
Cryptocurrency Market Top Players
*Disclaimer: Major Players sorted in no particular order
Cryptocurrency Market Recent Developments
- In 2021, Tesla announced the acceptance of Bitcoin as a mode of payment. However, after just a month’s foray into this prospect, Tesla halted the acceptance of bitcoin, citing environmental concerns.
- In 2021, Paypal offered crypto functionality to its US-based users by allowing them to buy, sell, hold, and checkout with cryptocurrencies through PayPal by using their personal or premier accounts. There are four different cryptocurrencies that PayPal offers at the moment: Bitcoin, Ethereum, Litecoin, and Bitcoin Stash.
Cryptocurrency Market Report - Table of Contents
1.1 Scope of the Market
1.2 Market Definition
2. RESEARCH METHODOLOGY
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.1.1 A Brief on the Structure and Technological Aspects of Cryptocurrencies
4.1.2 Price Volatility of the cryptocurrency market
4.1.3 Market Capitalization of Major Cryptocurrencies
4.1.4 Rationale for widespread Crypto Mining Areas Across the Globe
4.2 Major Concerns for Policymakers About Cryptocurrencies
4.2.1 Effects of Cryptocurrency Market on Eonomic Efficiency and Growth
4.2.2 Impact on Financial Stability due to Cryptocurrenncy Adoption
4.2.3 Effects on Monetary Policy due to Cryptocurrency Adoption
4.2.4 Effects on Fiscal Policy due to Cryptocurrency Adoption
4.2.5 Probable ways of Taxation of Cryptocurrency Market
4.2.6 Cons of Cryptocurrency Adoption into Financial Ecosystem
4.2.7 Tools at the Disposal of Policymakers to Counter the Cons of Cryptocurrency Adoption
4.3 A Brief on Investment Outlook in Cryptocurrency Market
4.4 Latest Developments in the Cryptocurrency Market
4.5 Market Drivers
4.6 Market Restraints
4.7 Qualitative Analysis of Cryptocurrency market from design goals perspective - Digital Cash coins, payment infrastructure coins, security tokens, utility tokens, general platform tokens, others
5. MARKET SEGMENTATION AND ANALYSIS
5.1.1 Americas (US, Canada, Latin America and Caribbean)
5.1.5 Middle East & Africa
5.2 By Market Capitalization
5.2.4 Bitcoin Cash
6. COMPETITIVE LANDSCAPE
6.1 Overview (Market Concentration and Major Players)
6.2 Mergers & Acquisitions
6.3 Segments and Company Profiles
6.3.1 Coin Product Developers
6.3.2 Mining Services
6.3.3 Cloud for Bitcoin
6.3.4 Cryptocurrency Exchanges
6.3.5 Wallet Companies
6.3.6 Payment and Trading Solution Providers
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cryptocurrency Market Research FAQs
What is the study period of this market?
The Cryptocurrency Market is studied from 2019 - 2028.
What is the growth rate of Cryptocurrency Market?
The Cryptocurrency Market is growing at a CAGR of 60.2% over the next 5 years.
Which region has highest growth rate in Cryptocurrency Market?
North America is growing at the highest CAGR over 2019 - 2028.
Which region has largest share in Cryptocurrency Market?
Europe, Middle-East and Africa holds highest share in 2021.
Who are the key players in Cryptocurrency Market?
Bitfinex, Quantstamp Inc, CryptoMove Inc, Coinbase, Huobi Global are the major companies operating in Cryptocurrency Market.
Cryptocurrency Industry Reports
In-depth industry statistics and market share insights of the Cryptocurrency sector for 2020, 2021, and 2022. The Cryptocurrency research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Cryptocurrency report PDF.