Strategic Intelligence: Cryptocurrencies

Cryptocurrency is now widely accepted as an established and investible mid-sized asset class, with growing institutional adoption and improving regulatory clarity in major markets. The second Trump presidency ushered in a more pro-crypto regime in the US and helped the total market capitalization hit a record $4.2 trillion in June 2025. The market value has since retrenched, falling to $2.5 trillion by the end of May 2026. This largely reflected broader geopolitical concerns, a move that, in turn, has raised questions about bitcoin’s status as a safe-haven asset.

Crypto remains a magnet for bad actors, whether they engage in cybercrime or illicit transactions. Cybersecurity breaches remain a persistent challenge for the crypto market, with the volume of stolen funds increasing to over $3.4 billion in 2025. The first few months of 2026 have been notable for several high-value attacks on decentralized exchanges, which have eroded confidence in the decentralized finance (DeFi) market. Addressing coding errors and cybersecurity in general will be key to regaining consumer confidence.

Scope

• This report provides an overview of the cryptocurrencies theme.
• It includes a comprehensive industry overview and analysis of the key trends shaping this theme.
• The detailed value chain is divided into four layers: infrastructure, software, application, and services.

Reasons to Buy

• The crypto market is immature and constantly evolving. This report is the perfect introduction to a controversial and fast-moving theme. It will help readers make sense of the technology behind cryptocurrencies, understand the potential implications of the theme, avoid the pitfalls, and identify the leading players.