Press release
Cryptocurrency Market Size, Driving Factors, Growth Statistics, Competitive Landscape And Forecast To 2033
Cryptocurrency Market
The Business Research Company offers in-depth market insights through Cryptocurrency Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The cryptocurrency market size has grown rapidly in recent years. It will grow from $2.16 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to early adoption and enthusiasm, market speculation, global financial uncertainty, regulatory developments, initial coin offerings (ICOs).
The cryptocurrency market size is expected to see rapid growth in the next few years. It will grow to $4.59 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to institutional adoption, global acceptance, decentralized finance (DeFi), government and regulatory clarity, increased tokenization. Major trends in the forecast period include technological upgrades, blockchain technology development, technological advancements, rise of central bank digital currencies, NFTs (non-fungible tokens) boom.
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Market Segmentation:
The cryptocurrency market covered in this report is segmented -
1) By Type: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Other Types
2) By Process: Mining, Transaction
3) By Offering: Hardware, Software
4) By End User: Trading, Retail And E-commerce, Banking, Other End Users
Major Driver - The Role Of Financial Transparency In Driving Cryptocurrency Market Expansion
Transparency in financial payment is expected to propel the growth of the cryptocurrency market in the coming years. Digital currencies are created using blockchain technology, which allows multiple entities to keep copies of historic transactions, that means it is not controlled by one central source. The centralized systems and human gatekeepers limit the speed and sophistication of transactions while reducing users' direct control over their money. There are no middlemen in digital currency transactions and consumers have the authority to stop or pause transactions and record them in their private ledger. For instance, in July 2021, Tesla, a US-based electric car manufacturer has started accepting bitcoin as a mode of payment because of its transparency and unique value. Therefore, the transparency in financial payment drives the growth of the cryptocurrency market
Competitive Landscape:
Major companies operating in the cryptocurrency market report are Federal Reserve Bank of Boston, Intel Corporation, BitGo Inc., Bitstamp Limited, Nvidia Corporation, Fidelity Investments Inc., Advanced Micro Devices Inc., Binance Holdings Limited, Coincheck Inc., Coinbase Global Inc., VeChain Foundation, Chainlink Labs Inc., Bitpanda GmbH, BTL Group Ltd., DYdX Trading LLC, Ripple Labs Inc., Bitmain Technologies Ltd., Bitso S.A. de C.V., Ledger SAS, BitFury Group Limited, Hiro Systems Inc., Aptos Labs Inc., Bitwise Asset Management LLC, Cellframe Network Inc., Kava Labs Inc., Ethereum Foundation, Holochain Inc., Xapo Inc., Brokoli Network Inc., CoinDesk Inc., Hivemind Capital Partners LLC, Xilinx Inc.
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Top Trend - Strategic Collaborations Driving Innovation And Trust In The Cryptocurrency Market
Major companies operating in the cryptocurrency market are adopting strategic collaborations in cryptocurrency market to sustain their position. Strategic collaborations play a crucial role in advancing the cryptocurrency market by fostering innovation, expanding accessibility, and building trust in the industry. For instance, in September 2023, RedotPay, a Hong Kong-based Web3 payment solution provider, and Beosin Co. Ltd., a Singapore-based blockchain security company, Entered a Strategic Partnership. The purpose of this important partnership is to improve our cryptocurrency payment platform's real-time blockchain transaction monitoring and evaluation capabilities. The partnership focuses on proactively identifying and mitigating risks associated with cryptocurrency payments, ensuring adherence to strict regulatory standards for Virtual Asset Service Providers (VASPs).
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Cryptocurrency Market Characteristics
3. Cryptocurrency Market Trends And Strategies
4. Cryptocurrency Market - Macro Economic Scenario
5. Cryptocurrency Market Size And Growth
…..
27. Cryptocurrency Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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