In the fast-paced world of finance, the rise of the Cryptocurrency Market is an exciting frontier, that has revolutionised the concept of transactions, disrupting traditional methods and paving way for a new age of financial innovation. Born out of the need for an alternative to cash and as a supplementary support to existing systems, cryptocurrencies facilitate peer-to-peer transactions, bypassing government or bank interference, thus purveying potential new risks and opportunities for the financial sector.
Cryptocurrency markets are widely varied, offering thousands of versions designed to cater various financial goals, from serving as a cash alternative to facilitating peer-to-peer trade via the creation of tokens. Their growing influence and integration into the global financial system, albeit under scrutiny for potential illicit activities, compelled regulators and policy makers to contemplate their accommodation and revisions of existing systems. Led by the banking industry, the adoption of its fundamental technology, blockchain, is also on an uptrend.
Procuring our comprehensive research report will empower you to chart a strategic pathway through this volatile and ever-evolving market, backed by extensive data and expert analysis.
Cryptocurrencies which are designed to use for peer-to-peer transactions without being liable to any government or a central bank are the latest financial innovations explored not only for the reasons of their being but also for potential risks and opportunities in the financial industry. There are thousands of cryptocurrencies with various design goals. These design goals are to provide a digital currency alternative to cash (Bitcoin, Monero, and Bitcoin cash), to support a payment system at low cost (Ripple, Particl, and Utility Settlement Coin), to support peer-to-peer trading activity by creating tokens (RMG and Maecenas), to facilitate secure access to a good or service in peer-to-peer trading (Golem, Filecoin) and to support underlying platform or protocol ( Ether and NEO). These design goals mentioned won’t be exhaustive as new cryptocurrencies are being created every week. Blockchain is the underlying technology for most cryptocurrencies.
The cryptocurrency market is segmented based on the market capitalization of a large number of cryptocurrencies. Cryptocurrencies overlap with key areas of the monetary and financial system. Given their rapid growth, complexity, high volatility, and potentiality for facilitating illicit activities, regulators and policymakers across the world are bothered about their inclusion into the existing system and revising the existing systems to fit them, if included.
Cryptocurrency Market Trends
A Brief on the Volatility in the Market Capitalization of CryptocurrenciesWith the evolving nature of this market with new cryptocurrencies created every week, it is difficult to know how big the cryptocurrency market is. A wide scope of market exchanges for cryptocurrency trading, spread across the globe because of their privacy protection features as well as rapid growth, extreme price volatility, and market illiquidity add to the complexity of the cryptocurrency market. The market capitalization of cryptocurrencies over the years shows how high the price volatility of the market is.
The estimated cryptocurrency market capitalization, for example, during January 2022, varied between 400 billion USD and 800 billion USD which was 566 billion USD at the beginning of the year 2022 and finally settled at 128 billion USD by the end of the year 2022. In terms of transaction volumes, bitcoin alone had the highest number of 200,000 average daily transactions.
Adoption of Blockchain Technology Increasing on a Robust PaceEnterprise adoption of blockchain technology has quietly reached a tipping point across multiple use cases. Companies that have recognized value from their initial pilot projects are now moving towards turning these projects into production. Specifically, there is still uncertainty about this technology in the areas of regulations and governance, but the adoption of blockchain for financial services, identity, trade, and other markets is increasing.
Global blockchain spending will be led by the banking industry followed by discrete manufacturing and process manufacturing with a combined market share of about 50% of overall spending. In the banking industry, the spending will be driven by two of the largest use cases - cross-border payments & settlements and trade finance & post-trade settlements.
Spending on blockchain solutions will be the highest in the United States followed by Western Europe and China. All the regions shown in the infographics are expected to see phenomenal growth in the coming years.
Cryptocurrency Market Competitor AnalysisThe report includes different segments like coin product developers, mining services, cryptocurrency exchanges, wallet companies, etc along with a note on recent mergers and acquisitions that shaped the ecosystem.
- The market estimate (ME) sheet in Excel format
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Table of Contents
1.2 Market Definition
2.2 Study Assumptions
2.3 Analysis Methodology
2.4 Research Phases
4.1.1 A Brief on the Structure and Technological Aspects of Cryptocurrencies
4.1.2 Price Volatility of the cryptocurrency market
4.1.3 Market Capitalization of Major Cryptocurrencies
4.1.4 Rationale for widespread Crypto Mining Areas Across the Globe
4.2 Major Concerns for Policymakers About Cryptocurrencies
4.2.1 Effects of Cryptocurrency Market on Eonomic Efficiency and Growth
4.2.2 Impact on Financial Stability due to Cryptocurrenncy Adoption
4.2.3 Effects on Monetary Policy due to Cryptocurrency Adoption
4.2.4 Effects on Fiscal Policy due to Cryptocurrency Adoption
4.2.5 Probable ways of Taxation of Cryptocurrency Market
4.2.6 Cons of Cryptocurrency Adoption into Financial Ecosystem
4.2.7 Tools at the Disposal of Policymakers to Counter the Cons of Cryptocurrency Adoption
4.3 A Brief on Investment Outlook in Cryptocurrency Market
4.4 Latest Developments in the Cryptocurrency Market
4.5 Market Drivers
4.6 Market Restraints
4.7 Qualitative Analysis of Cryptocurrency market from design goals perspective - Digital Cash coins, payment infrastructure coins, security tokens, utility tokens, general platform tokens, others
5.1.1 Americas (US, Canada, Latin America and Caribbean)
5.1.5 Middle East & Africa
5.2 By Market Capitalization
5.2.4 Bitcoin Cash
6.2 Mergers & Acquisitions
6.3 Segments and Company Profiles
6.3.1 Coin Product Developers
6.3.2 Mining Services
6.3.3 Cloud for Bitcoin
6.3.4 Cryptocurrency Exchanges
6.3.5 Wallet Companies
6.3.6 Payment and Trading Solution Providers
A selection of companies mentioned in this report includes:
- Coin Product Developers
- Mining Services
- Cloud for Bitcoin
- Cryptocurrency Exchanges
- Wallet Companies
- Payment and Trading Solution Providers