Cryptocurrency Market
The cryptocurrency market was estimated to be worth USD 1179.34 million in 2023. The market’s projected CAGR over the forecast period is 11.5%, growing from USD 1314.02 million in 2024 to USD 3141.32 million by 2032.
What Is Cryptocurrency?
Cryptocurrency, also known as crypto or digital currency, is a virtual currency that is recorded on a public ledger called a blockchain. Crypto- is a prefix that means “hidden” or “secret.” It comes from the Greek word kryptós. It is a decentralized currency, which means it is not governed by a central bank. Cryptocurrencies are digital assets that are bought and sold using real money and are verified and recorded on a blockchain, which is a public ledger that tracks all transactions. Blockchain encryption makes it difficult to tamper with or counterfeit transactions. Cryptocurrencies are not backed by any material change, so their value can be unpredictable and can be very volatile, with prices fluctuating based on popularity.
Download Free Sample PDF Copy of the Report:
https://www.polarismarketresearch.com/industry-analysis/cryptocurrency-market/request-for-sample
Market Growth Drivers:
• As different types of digital assets, such as cryptocurrencies and NFTs, become more popular, the market is growing swiftly.
• Technological advancements play a crucial role in propelling the growth of the cryptocurrency market.
• Recent advancements in artificial intelligence (AI) are anticipated to propel the market expansion.
• Numerous key participants in the sector are launching innovative offerings like Exchange Traded Funds (ETFs) and NFTs, which are expected to enhance market development.
Market Competition:
• BITMAIN Technologies Holding Company
• NVIDIA Corporation
• Bitfury Group Limited
• Kraken
• BitGo
• BlockFi
• Xilinx (AMD)
• Gemini Trust Company
• LLC
• Ledger SAS
• Intel Corporation
• AirSwap
• Binance Holdings Ltd.
• Ripple
• and Coinbase Global Inc.
Request for a Discount on this Report Before Purchase:
https://www.polarismarketresearch.com/industry-analysis/cryptocurrency-market/request-for-discount-pricing
Recent Developments
• January 2023: BITMAIN Technologies Holding Company introduced the ANTMINER S19j Pro+, a next-generation mining device designed for enhanced voltage compatibility in data centers, reducing the need for additional voltage-specific equipment.
• February 2023: Binance launched Binance Tax, a free tool that simplifies tax reporting for crypto traders. This tool enables users to access and download detailed tax summaries of their trading activities, helping them track gains and losses efficiently.
• December 2023: Bitfinex Securities Ltd successfully raised $5.2 million USDt through one of the world’s first tokenized bond issuances. The funding was conducted by ALTERNATIVE, a securitization fund in Luxembourg managed by Mikro Kapital.
Regional Summary:
• In 2022, North America led the global market because of the growing use of cryptocurrencies in NFTs and their recognition as a form of wealth storage.
• The market for cryptocurrency in Asia Pacific is expanding steadily, fueled by the demand for safer transactions and greater acceptance of cryptocurrencies and blockchain technology in the region.
Explore The Complete Comprehensive Report Here:
https://www.polarismarketresearch.com/industry-analysis/cryptocurrency-market
Segmental Analysis:
• The cryptocurrency market is basically segmented based on type, component, end-use, and region.
• The market for cryptocurrency, based on component, is segmented as software and hardware.
• The hardware segment held the largest market share in 2022 and is expected to maintain its status throughout the projected period.
Cryptocurrency Market, Component Outlook (Revenue – USD Million, 2019-2032)
• Hardware
• Software
Cryptocurrency Market, Type Outlook (Revenue – USD Million, 2019-2032)
• Bitcoin
• Ethereum
• Tether
• Binance Coin
• XRP
• Other
Cryptocurrency Market, End-Use Outlook (Revenue – USD Million, 2019-2032)
• Banking
• Gaming
• Government
• Healthcare
• Retail & E-Commerce
• Trading
• Other
Browse More Research Reports:
Security Solutions Market:
https://www.polarismarketresearch.com/industry-analysis/security-solutions-market
Kuwait Crowdfunding Platform Market:
https://www.polarismarketresearch.com/industry-analysis/kuwait-crowdfunding-platform-market
Digital Identity Verification Blockchain Solutions Market:
https://www.polarismarketresearch.com/industry-analysis/digital-identity-verification-blockchain-solutions-market
AI System Debugging Market:
https://www.polarismarketresearch.com/industry-analysis/ai-system-debugging-market
Digital Art Authentication Blockchain Platforms Market:
https://www.polarismarketresearch.com/industry-analysis/digital-art-authentication-blockchain-platforms-market
Contact:
Likhil G
8 The Green Ste 19824,
Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
This release was published on openPR.