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Explore latest Trends in Cryptocurrency Market along with Key Players: NVIDIA Corporation, Bitmain, Xilinx, Advanced Micro Devices, Intel

01-20-2021 08:50 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Worldwide Market Reports

Cryptocurrency

Cryptocurrency

A cryptocurrency is a digital or virtual currency that is meant to be a medium of exchange that does not have any physical manifestation. Cryptography is used to verify transactions, secure transactions, and to manage the creation of new cryptocurrency units. Cryptocurrency can be defined as a combination of cryptography and currency, as cryptocurrency extensively uses cryptographic programs to secure transactions between users. In terms of geography, the global cryptocurrency market is divided into six regions, such as North America, Europe, Asia Pacific, Middle East, Africa, and South America.

Increasing demand for cryptocurrency in payments, increasing high transactional security, rising rapid international transfers, and increasing mobile penetration are expected to aid the global cryptocurrency market growth. Moreover, technological advancements, an increase in cyber-attacks, risk of bank failures, rising network security, and easy mobile app access for transactions and security are factors expected to fuel the global cryptocurrency market growth.

This report is a comprehensive research on the Cryptocurrency market. It is designed to analyze and forecast the size of the Cryptocurrency market across a variety of industries, includes short-term and long-term trends that affect market conditions. In addition, the report provides market momentum, constraints, and potential opportunities.

Research studies use the analysis of the different types of information contained in the survey to analyze Cryptocurrency at the global, regional, and national levels. The main strategies seen by Cryptocurrency companies in recent years are diversification, application expansion, and investment in new markets.

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Furthermore, low ownership cost, immutable transactions, low fees, protection from fraud, transparency of ledger transactions, and protection from consumer chargebacks are factors expected to foster the global cryptocurrency market growth. For instance, in March 2018, Intel won a patent for ‘Bitcoin Mining Hardware Accelerator with Optimized Message Digest and Message Scheduler Datapath’. In the filing, Intel outlined a method by which it could augment the existing bitcoin mining process, consuming less electricity, thereby, and spending less money in the process. The rise in investments in cryptocurrency is expected to provide new opportunities for the market.

Uncertain regulatory concerns and lack of awareness among people about cryptocurrency is expected to hamper the global cryptocurrency market growth.

In 2019, North America was the fastest-growing region in the global cryptocurrency market owing to a rise in spending on blockchain solutions, increasing adoption and awareness about blockchain technology, boosting demand for cloud-computing, AI, and Machine Learning technology, and increasing acceptance of digital currencies. For instance, in August 2018, Bitmain Technologies Ltd. announced the launch of its new blockchain data center in the city of Texas. The cryptocurrency mining facility and Milam County blockchain data center represents a key component of Bitmain’s strategic investment and expansion plans within North America.

The Asia Pacific is also expected to witness robust growth in the global cryptocurrency market due to compliance-free transactions, increasing technological advancement, strategic collaborations and partnerships, and increasing digital asset applications. For instance, in November 2020, Binance acquired India’s leading digital asset platform WazirX to launch multiple Fiat-to-Crypto gateways. Furthermore, in Q1 of 2020, WazirX’s unique auto-matching engine was integrated into the Binance Fiat Gateway platform, which bought easy cryptocurrency access to over a billion people.

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Major players operating in the global cryptocurrency market are NVIDIA Corporation, Bitmain, Xilinx, Advanced Micro Devices, Intel, Ripple Labs, Bitfury Group, Ethereum Foundation, Coinbase, Microsoft Corporation, BitGo, Binance Holdings, and Intel Corporation.

In February 2020, Binance launched Binance Cloud, an infrastructure solution for partners and customers to launch digital asset exchanges leveraging Binance’s industry-leading technology, security, and liquidity.

In October 2020, Lemonway collaborated with Ripple to feature cost-effective, instant, and transparent transactions in Europe. Lemonway will transform its euro-to-euro payouts through Ripple.Net.

Cryptocurrency Market Report helps industrial, and commercial buyers, manufacturers, governments, and other stakeholders implement market-centric tactics in line with forecasts for general trends within the global market. It's a good compilation of all the data you need.

The report primarily looks at Cryptocurrency market size, recent trends and developments, investment opportunities, market dynamics (driving factors, restraining factors, etc.), and industry news (merger, acquisition, investment, etc.). Technological innovations and advances will further optimize product performance and make it more widely used in downstream applications. In addition, Porter's Five Forces Analysis (potential entrants, suppliers, agents, buyers, industry competitors) provides important information to know the Cryptocurrency market.

Customization Service of the Report: https://www.worldwidemarketreports.com/quiry/427850

Key questions answered in the report:

• What is the growth potential of the Cryptocurrency market?
• Which product segment has the largest market share?
• Which regional markets will you lead in the coming years?
• Which application segment will grow strongly?
• What kinds of growth opportunities will be created in the Cryptocurrency industry in the future?
• What are the biggest challenges for the global Cryptocurrency market going forward?
• Who is the global market leader for Cryptocurrency?
• What are the main trends that have a positive impact on market growth?
• What growth strategies are players considering to stay in the global Cryptocurrency market?

About WMR

Worldwide Market Reports provides customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities. (Ask for Experts on Below Email)

Contact Us:
Mr. Shah
Worldwide Market Reports,
Tel: U.S. +1-415-871-0703 / U.K. +44-203-289-4040 / Japan +81-50-5539-1737
Email: sales@worldwidemarketreports.com

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