Global Crypto Currency Market

Crypto Currency Market Size, Share, Growth Analysis, By Type(Bitcoin, Crypto Wallet), By Component(Hardware and Software), By Process(Mining, Transaction), By Application(Trading, Remittance) - Industry Forecast 2024-2031

Report ID: SQMIG40A2011 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 119 | Figures: 77

Crypto Currency Market News

  • In November 2023, the presentation of ETMarkets Crypto Corner, given in collaboration with Mudrex, marks the start of an excursion pointed toward unwinding the complexities of the innovation-driven speculation scene of digital currencies. We want to enlighten the potential dangers intrinsic in this developing space while offering thorough inclusion of every aspect of the cryptographic journey. Through our foundation, we endeavor to bring issues to light and give fundamental direction on exploring the administrative scene and anticipating impending standards in the digital currency space. Go along with us as we dig profound into the universe of cryptographic forms of money, engaging financial backers with the information expected to pursue informed choices in this unique market. 
  • In September 2023, Paysend, a UK-based FinTech innovator, and Visa, a global digital payments firm, declared a strategic collaboration. This partnership empowers Paysend's clients overall to send cash progressively to qualified Visa cards across 170 nations and domains. 
  • In January 2024, Bay Binance, a joint venture between Binance and Thailand's Bay Innova, sent off cryptocurrency exchange services to the overall population in Thailand. This send-off followed a welcome just test directed in November. Thai clients currently can trade cryptographic forms of money with neighborhood cash matching utilizing their Binance TH accounts, as indicated by the articulation. 
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Crypto Currency Market size was valued at USD 4.57 billion in 2022 and is poised to grow from USD 5.14 billion in 2023 to USD 13.19 billion by 2031, growing at a CAGR of 12.5% in the forecast period (2024- 2031). 

The competitive environment of the crypto currency Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Bitcoin', 'Ethereum', 'Binance Coin', 'Cardano', 'XRP (Ripple)', 'Solana', 'Dogecoin', 'Polkadot', 'Terra', 'Chainlink', 'Internet Computer', 'Bitcoin Cash', 'Litecoin', 'Uniswap', 'Polygon (MATIC)', 'Cosmos', 'VeChain', 'Avalanche', 'Algorand', 'Shiba Inu'

The growth of the cryptocurrency market is significantly driven by the growing demand for transparency and efficiency in financial payment systems. This increasing need aligns with the rising internet penetration across various regions. Moreover, the emergence of technology companies offering accessible trading platforms via smartphones and computers has become a prominent trend in recent years.

The market's growth is chiefly fueled by the expanding presence of distributed ledger technology alongside heightened digital investment within venture capital circles. A notable trend has emerged in developing countries, where digital currency is increasingly adopted as a medium for financial exchanges. The surging popularity of digital assets such as Bitcoin and Litecoin stands poised to be a significant catalyst driving market expansion in the years ahead. Furthermore, digital currencies frequently leverage blockchain integration, aiming for decentralization and streamlined, efficient transaction processes.

North America has claimed the lion's share in the cryptocurrency market, boasting an impressive 42% of the total market share. This dominance has been entrenched since the early days of cryptocurrency trading, largely owing to regulations within Canada and the US that afford a degree of anonymity in crypto payments.

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Global Crypto Currency Market

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