In recent times, financial disaster is one of the primary issues that occurs in the conventional banking system. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration that contribute in boosting the market.įocus on Mitigating Financial Crisis and Regional Instability Drives the Demand for Virtual Currency Additionally, the report provides insights into the regional analysis of different regions. The market report offers in depth analysis of various factors, which are influencing the market growth. Lastly, in terms of geography, the market is divided into North America, Europe, Asia Pacific, the Middle East & Africa and Latin America. By end-use, it is divided into trading, E-commerce and retail, peer-to-peer payment, and remittance.īased on end use, the trading segment held the market share of 42.8% in 2020, because it focuses on crypto solutions that are used for trading such as Pionex, Cryptohopper, Bitsgap, Coinrule, and others. By type, it is divided into bitcoin, ether, litecoin, ripple, ether classic, and others. Thus, as the Initial Coin Offering (ICO) market crashed, blockchain companies are emerging as major alternative to raise investment capital.Ĭlick here to get the short-term and long-term impact of COVID-19 on this Market.īy component, the market is bifurcated into hardware, and software. For example, in March 2020, the price of Bitcoin declined and went below USD 4,000 after a decline in the S&P Index in the U.S. However, the relationship between Bitcoin and the equity market expanded amid pandemic. The COVID-19 pandemic adversely affected the world economy. With this collaboration, AWS will be able to help its users in using Amazon Machine Images (AMI) to develop and publish smart contracts easily and efficiently. For instance, In October 2018, Qtum Chain Foundation made a partnership with Amazon Web Services (AWS) China to use blockchain systems on the AWS cloud. Thus, advantages such as these are also encouraging people to invest in crypto. Furthermore, it has been seen that the digital currency is also used in the integration of blockchain technology to get decentralization and control efficient transactions. Additionally, the increasing popularity of digital assets such as bitcoin and litecoin is likely to accelerate the market in upcoming years. The demand for crypto has increased due to rising investments in venture capital. Intel Corporation (California, United States).
List of Key Players in Cryptocurrency Market: In its report titled “Cryptocurrency Market,” Fortune Business Insight mentions that the market stood at USD 826.6 million in 2020. 23, 2021 (GLOBE NEWSWIRE) - The global cryptocurrency market size is expected to gain momentum by reaching USD 1,902.5 million by 2028 while exhibiting a CAGR of 11.1% between 2021 to 2028.
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