crypto strategy

Key Cryptocurrency Market 2023 Strategic Developments, New Technologies By Players |

The global cryptocurrency market is expected to grow at a CAGR of 12.2% during the forecast period

The global cryptocurrency market is growing at a high CAGR due to the growing popularity of digital currencies as a form of investment, as well as the growing acceptance and formation of legal guidelines surrounding the use of cryptocurrencies. currencies.

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A recent study by strategic consulting and market research firm Report Ocean revealed that the global cryptocurrency market was worth USD 1.3 billion in 2021. The market is expected to grow at a CAGR of 12.2%. , generating revenue of approximately USD. 2.8 billion by the end of 2028. The current expansion of the global cryptocurrency market is due to several causes. Advanced technical development is one of the main drivers of the business as it facilitates the adoption of cryptocurrencies. Cryptocurrencies are built on cryptography, making it a highly secure digital currency in an age where cybersecurity is still under threat. Additionally, it offers greater security and faster processing, giving digital currencies an edge over other traditional payment options.

The rising popularity of bitcoins is boosting the global cryptocurrency market

The popularity of Bitcoin is increasing day by day and more and more people are interested in cryptocurrencies. As a result, it brings in a lot of money. Bitcoins allow faster processing and are considerably easier to liquefy, which is one of the main reasons for their growth. Moreover, the value of bitcoin is very volatile, which has piqued the curiosity of investors. The value of a single bitcoin has increased several times in recent years, making it an excellent investment alternative.

Global Cryptocurrency Market – By Method

Based on the method, the global cryptocurrency market is segmented into mining and trading. The transaction segment holds the largest share in the global cryptocurrency market owing to low transaction fees, fraud protection, improved security, and decentralized systems. It also provides fast money transfers even internationally, which has increased its appeal and applicability, expanding its market growth.

Global Cryptocurrency Market – By End User

Based on the end user, the global cryptocurrency market is segmented into banking, stock exchange and virtual currency, real estate and others. The stock market and virtual currencies segment accounts for the largest market share and is also expected to register the highest growth rate during the forecast period. The cryptocurrency has already entered the stock market, with several public companies trading bitcoin and other cryptocurrencies. Many businesses have started accepting bitcoins as payment in exchange for their goods or services.

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Global Cryptocurrency Market – Regional Overviews

Geographically, the global cryptocurrency market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America dominates the global cryptocurrency market due to the structured regulations and laws present in countries like the United States. Cryptocurrency exchange rules in the United States state that they are legal and fall under the regulatory jurisdiction of the Bank Secrecy Act (BSA). However, Middle Eastern countries such as Dubai are expected to register the highest growth rate during the forecast period.

Impact of COVID-19 on the global cryptocurrency market

The Covid-19 breakout and the ensuing pandemic had a mixed impact on the global cryptocurrency market. As China is the main cryptocurrency market but the coronavirus situation has also broken out in that country itself, it has affected the market significantly. However, the current pandemic crisis has created several opportunities for the cryptocurrency market to grow. Many countries have started to consider cryptocurrency and its many varieties as a viable alternative to the traditional market, as it has surpassed it in many cases. Experts say that if governments want to boost their economy and restore economic growth, they must use cryptocurrencies.

Competitive landscape

Major players in the global cryptocurrency market include Microsoft Corporation, BitFury Group Limited, Advanced Micro Devices, Ripple Labs Inc., Intel Corporation, NVIDIA Corporation, Coinbase Ltd., AlphaPoint Corporation, Xilinx Inc., BitGo and other players leading.

Market segment:

By category (Bitcoin, Ripple, Ethereum, Dashcoin, Litecoin, Others)
By elements (software, hardware)
By methods (mining, transactions)
By end user (bank, stock exchange and virtual currency, real estate, others)
By region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA)

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To grow their consumer base and product offerings, market players engage in competitive tactics such as partnerships, acquisitions, and collaborations. For ease of use and navigation, companies are continually updating and innovating their trading and crypto platforms. They also work with developers to improve their platforms.

Don’t miss the global cryptocurrency market trading opportunity. Consult our analysts to gain crucial insights and facilitate the growth of your business.

The report’s in-depth analysis provides insights into the growth potential, upcoming trends, and statistics of the global cryptocurrency market. It also highlights the factors driving the forecast of the total market size. The report promises to provide recent technology trends in the global cryptocurrency market and industry insights to help decision makers take sound strategic decisions. In addition, the report also analyzes market growth drivers, challenges, and competitive dynamics.

Contents:

Presentation of the report
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North American market analysis
European market analysis
Asia Pacific Market Analysis
Latin America market analysis
Middle East and Africa Market Analysis
Market Analysis of Key Player Profiles
Analyst Views/Conclusions
Annex

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About Report Ocean:

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This press release was published on openPR.

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