The cryptocurrency market will surpass $13.19 billion by 2031

SkyQuest Technology Consulting Pvt. Ltd.

Westford, USA, May 21, 2024 (GLOBE NEWSWIRE) — SkyQuest predicts that Global Cryptocurrency market will reach a value of $13.19 billion by 2031, with a CAGR of 12.5% ​​over the forecast period (2024-2031). The growing popularity and rising demand for transparency and efficiency in financial payment systems are considered primary factors increasing the growth of this market. This growing need coincides with the rise of the Internet in various regions of the world. Additionally, the emergence of technology companies offering marketing channels accessible via smartphones and computers has become a priority in recent years.

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Browse the in-depth summary on the “Global Cryptocurrency Market”

• Pages – 157

• Tables – 119

• Figures – 77

Global Cryptocurrency Market Overview:

The hardware segment will dominate due to high performance

The hardware segment is further divided based on platforms such as graphics processing units (GPU), field programmable gate array (FPGA), application specific integrated circuit (ASIC), etc. The segment contains hardware that has been implemented for mining and trading cryptocurrencies. Bitmain Antminer S9i, Halong Mining DragonMint T1, Pangolin Whatsminer M3X, Avalon6, etc. ASIC mining hardware is expected to hold a major share mainly due to the high performance and high hash rate when mining a specific amount.
Crypto wallet Segment to lead the market due to the high cost of digital applications

In the crypto wallet segment, the software wallet exchange has increased due to the growing popularity of cryptocurrencies across the world. This is also expected to support the growth of the segment, as it provides users with online tools to safely manage and store blockchain assets and cryptocurrencies. It also creates the opportunity to trade and store different cryptocurrencies such as Ethereum, Litecoin, and Bitcoin. A staggering increase of almost 190% has been observed in the adoption of crypto wallets globally. This increase is driven by the high cost of digital applications and software wallets that allow users to store and manage their cryptocurrencies. Their specialized services dedicated to providing accessibility, security and user-friendly connectivity have been instrumental in realizing this significant market growth.

North America is dominant due to the growing demand for digital payment systems

North America is estimated to contribute 48% of the global market growth during the forecast period. North America holds the largest share of the cryptocurrency market thanks to industry innovations and numerous market players. The growing demand for digital payments has further strengthened the global cryptocurrency market. Investments by vendors to expand their operations in North America are expected to spur the growth of the cryptocurrency market in the region over the forecast period.

The story continues

Additionally, further technology upgrades for some platforms in Japan and Taiwan and the adoption of virtual currency are expected to further boost the Asia-Pacific-backed market. For example, in January 2020, Z Corporation, Inc. will have 100,000 shares, (NASDAQ: ZC) reported $1.5 billion, and TaoTao, Inc. confirmed compliance in the Japanese market and announced cooperation with financial institutions for expand the cryptocurrency market. Similarly, the Securities and Exchange Commission in Malaysia has legally allowed digital currency exchange operators to operate in the country despite the country’s lockdown due to the coronavirus outbreak.

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Insights into the global cryptocurrency market:

Drivers

Restrictions

Prominent players in the global cryptocurrency market

• Solana

• Dogemoneta

• Polka dot

• Earth

• Chain shirt

• Internet calculator

• Bitcoin Cash

• Litecoin

• Uniswap

• Polygon (MATIC)

• Cosmos

• VeChain

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Key questions answered in the global cryptocurrency market report

• – What is the current size of the global cryptocurrency market?

• What years does this global cryptocurrency market cover?

• What is the fastest growing region in the global cryptocurrency market?

• Which region has the largest share in the global cryptocurrency market?

This report provides the following information:

• Analysis of key drivers (growing demand for transparency and efficiency in financial payment systems, growing Internet penetration), restrictions (absence of regulations governing the creation and valuation of digital assets, lack of supervision or standardized regulations), opportunities (growing popularity of digital assets), influencing the growth of the global cryptocurrency market.

• Market Dynamics: Comprehensive information on various products offered by the dominant players in the global cryptocurrency market.

• Product Development/Innovation: An overview of emerging trends, research and development activities, and product launches in the global cryptocurrency market.

• Market Growth: Detailed information on profitable growth industries.

• Market Trends: Comprehensive information on new products, emerging geographies and recent developments in the market.

• Competitive Analysis: An in-depth analysis of market segments, growth strategies, revenue analysis, and products of key market players.

Related reports:

Global blockchain market
Global blockchain as a services market
Global blockchain IoT market
Global fintech blockchain market
Global Blockchain in Manufacturing Market

Who we are:

SkyQuest is an intellectual property-focused research and investment bank and a technology and resources accelerator. We provide access to technologies, markets and financing across all sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information and Communication Technologies.

We work closely with innovators, inventors, innovation researchers, entrepreneurs, companies and investors to leverage external sources of research and development. Furthermore, we help them optimize the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr Jagraj Singh

Skyquest technology

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Westford,

Massachusetts 01886

United States (+1) 351-333-4748

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