Cryptocurrency Market Comprehensive Insight by Growth Rate, Industry Status, Forecast till 2030

The global Cryptocurrency Market size is expected to reach USD 2411.0 Million at a steady revenue CAGR of 11.1% in 2030, according to a latest analysis by Emergen Research. Increasing focus on mitigating financial crisis and regional instability can be attributed to a steady market revenue growth of cryptocurrency. Investing in the future is unquestionably a way to mitigate losses in the event of a financial crisis. Finding the appropriate cryptocurrency project to invest in and reaping the benefits can pay off significantly. Cryptocurrency's growth is unavoidable due to global mass adoption and the rapidly emerging cardinal application cases for blockchain technology. The future of technology revolves around cryptocurrencies, from booming Non-Fungible Tokens (NFT) trading to popular Decentralized Finance (DeFi) projects, from Metaverse to Web 3 breakthroughs.

A recent trend in the market is the institutional adoption of the crypto ecosystem, including asset management. Many institutions are now actively investing in the sector. The asset management business has become a prime example of this. By the end of 2020, the crypto asset class received USD 15 billion in institutional assets under management. Compared to just over USD 2 billion at the end of 2019, this is a significant increase. Furthermore, assets in the Grayscale Bitcoin Trust (which is the only avenue for many institutions to get bitcoin exposure) increased by 900% in 2020. While this figure is still insignificant in comparison to the broader asset management business, future regulatory certainty can assist to boost it.

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 Some Key Highlights From the Report

On 2 June 2022, Bitstamp launched its Earn product to U.S. customers, allowing customers to earn interest on staking Ethereum and Algorand. The product is meant to be a turn-key Ethereum (ETH) and Algorand (ALGO) staking solution. Investors fund their Bistamp accounts and then collect staking rewards. For its part, Bitstamp takes a fee on the yield customers earn.

The hardware segment is expected to account for the largest revenue share over the forecast period. This is attributed to its high performance and high hash rate while mining a specific coin. A high hashrate is crucial since it is a key metric for identifying the strength and, more importantly, the security of a blockchain network. The higher the hashrate, and the more difficult it is for malicious agents to disrupt the network, the more machines dedicated by honest miners to find the next block.

The bitcoin segment is expected to lead in terms of revenue share in the global market over the forecast period owing to its increased adoption. Bitcoin had a market capitalization of USD 1,072.21 billion on February 21, 2021. Bitcoin has a maximum supply of 21 million coins. The total number of Bitcoins in circulation will never exceed 21 million. Many experts believe that Bitcoin's value stems largely from its limited supply or scarcity. Another reason for bitcoin's high demand is that it cannot be replicated. It also cannot be counterfeited as Bitcoin is built on the blockchain ledger.

Trading segment is expected to account for large revenue share over the forecast period. This is attributed to increased focus on crypto solutions used for trading. Cryptocurrency trading is the act of speculating on cryptocurrency price fluctuations via a Contract for Differences (CFD) trading account or buying and selling the underlying coins via an exchange. One can open a position on margin which is a deposit worth a fraction of the trade's full value as CFD trading is a leveraged product. In other words, by investing a modest amount of money, one can gain a lot of exposure to the bitcoin market.

The market in North America is expected to account for largest revenue share during the forecast period, which is attributed to increasing use of cryptocurrencies in several countries in the region. By the end of 2022, the number of adults in the U.S. who possess at least one cryptocurrency is expected to rise by 19.0% to 33.7 million. This translates to 12.8% of the population, up from 10% the year before. Adults between the ages of 25 and 34 have the most ownership, followed by those between the ages of 35 and 44. The number of adults in the U.S. who own and use cryptocurrencies for payments is expected to rise by double digits by 2023. As a result, the rising use of cryptocurrencies in the region is expected to boost revenue growth of the market.

Some major companies in the global market report include Bitmain Technologies Holding Company, Xilinx, Inc., Intel Corporation, Advanced Micro Devices, inc., Ripple, Bitfury Group Limited, Ledger SAS, NVIDIA Corporation, BitGo, and Xapo Holdings Limited

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Emergen Research has segmented the global cryptocurrency market on the basis of component, type, end-use, and region:

Component Outlook (Revenue, USD Million; 2019-2030)

Hardware

Software

Type Outlook (Revenue, USD Million; 2019-2030)

Bitcoin

Litecoin

Ether

Ripple

Ether Classic

Others

End-Use Outlook (Revenue, USD Million; 2019-2030)

Trading

E-Commerce & Retail

Peer-to-Peer Payment

Remittance

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Regional Outlook (Revenue, USD Million; 2022-2030)

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Italy

Spain

Sweden

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Israel

Rest of MEA

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Key Questions Answered in the Report:

What is the growth rate of the Cryptocurrency market? What is the anticipated market valuation of Cryptocurrency industry by 2030?

What are the key growth driving and restraining factors of the Cryptocurrency market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Cryptocurrency industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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