Industry Background:
Growth in Venture Capital Investments will help to boost the global Cryptocurrency market. The advent of Bitcoin marked the birth of cryptocurrency. Developed in 2008 and launched in 2009, Bitcoin was the first cryptocurrency creating a class of its own. Cryptocurrency is not merely money that exists in the digital space; it relies on a decentralized form of control, meaning that it is not regulated by banks, governments, or any intermediating entity with a higher power. Instead, ownership, security, and verification are based on a system of cryptography, which works as the medium of storing the currency and processing it. The U.S. Dollar has lost more than 80% of its purchasing power in the last 40 years. à The cryptocurrency market hit USD 350 million in total currencies as of April 2018. On August 22, 2018, the entire crypto sphere amassed USD12 billion in one day for the top 100 altcoins and Bitcoin. Cryptocurrency market shares (aside from Bitcoin) have grown rapidly in the past year. Bitcoin remains the dominant crypto coin by market share, though in recent years, altcoins have reduced Bitcoin’s stature through their own rising market shares. The following graph displays the market shares of Bitcoin and major altcoins between April 2013 and June 2018.
According to AMA, the market for Cryptocurrency is expected to register a CAGR of 6.25% during the forecast period to 2027. This growth is primarily driven by High Remittances in Developing Countries and High Cost of Cross-Border Remittance.
Globally, a noticeable market trend is evident Fluctuations in Monetary Regulations
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Bitmain (China), Robinhood Crypto (United States), NVIDIA (United States), Xilinx (United States), Intel (United States), Advanced Micro Devices (AMD) (United States), Ripple (United States), Bitfury (Netherlands), Ethereum Foundation (Switzerland), CoinBase (United States), BitGo (United States) and Cryptowire (United Kingdom) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 3rd January 2022, Cryptowire launched India's first global index of cryptocurrencies. IC15 is a rule-based broad market index by market capitalization, which tracks and measures the performance of the top 15 widely traded liquid cryptocurrencies, in terms of market capitalization, listed on leading crypto exchanges of the world.
On 13th April 2022, Robinhood Adds 4 Crypto Tokens to Its Platform, Stablecoin Issuer Circle Raises USD 400M, Dallas Cowboys Strike NFL’s First-Ever Crypto Deal. There continues to be extra volatility in the crypto market, and experts predict the ups and downs to continue as investors wrestle with rising inflation, geopolitical tensions, and potential changes in U.S. monetary policy.
Regulatory Insights:
"The US Treasury has emphasized an urgent need for crypto regulations to combat global and domestic criminal activities. In December 2020, FINCEN proposed a new cryptocurrency regulation to impose data collection requirements on cryptocurrency exchanges and wallets. The rule is expected to be implemented by Fall 2022, and would require exchanges to submit suspicious activity reports (SAR) for transactions over USD10,000 and require wallet owners to identify themselves when sending more than USD3,000 in a single transaction."
Market Drivers
- High Remittances in Developing Countries
- High Cost of Cross-Border Remittance
Market Trend
- Fluctuations in Monetary Regulations
- Transparency of Distributed Ledger Technology
Restraints
- Lack of Awareness and Technical Understanding Regarding Cryptocurrency
- Uncertain Regulatory Status
Opportunities
Significant Growth Opportunities in Emerging and Developed Markets and Acceptance of Cryptocurrency Across Various Industries
Challenges
Concern Regarding Security, Privacy, and Control and Technical Challenges Pertaining to Scalability
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cryptocurrency Study Sheds Light on
The Cryptocurrency Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Cryptocurrency industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cryptocurrency industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.