Hong Kong Source: Blockchain News
Aug 31, 2024 02:15
Hong Kong Monetary Authority Reports 0.6% Increase in Total Deposits for July 2024
The Hong Kong Monetary Authority reported a 0.6% increase in total deposits in July 2024, with notable changes in various deposit categories. (Read More)
Hong Kong Source: Blockchain News
Aug 01, 2024 02:15
Hong Kong Monetary Authority Releases June 2024 Monetary Statistics
The Hong Kong Monetary Authority reports stable total deposits and a slight increase in Hong Kong dollar deposits for June 2024. (Read More)
Hong Kong Source: Blockchain News
Jun 29, 2024 02:15
Hong Kong Monetary Authority Reports 1.1% Increase in May 2024 Deposits
The Hong Kong Monetary Authority reported a 1.1% increase in total deposits for May 2024, with notable rises in both Hong Kong dollar and foreign currency deposits. (Read More)
Author: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Mar 30, 2023 10:30
Stablecoin Supply Shift: TUSD Jumps 110% While Others Experience Reductions
Four stablecoins have reduced their supplies this month, while the stablecoin token TrueUSD (TUSD) has seen its supply jump 110% higher over the last 30 days. TUSD resides natively on four different blockchains. The number of Ethereum-based TUSD rose 27%, while the number of Tron-based TUSD stablecoins increased by 218%. TUSD Supply Swells, Tron-Issued Stablecoins [...]
View DetailsAuthor: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Mar 28, 2023 05:50
Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025
Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. [...]
View DetailsAuthor: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Mar 26, 2023 11:30
Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply
According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. [...]
View DetailsAuthor: Damian Chmiel
Israel Source: CryptoCurrency – Finance Magnates | Financial and
Apr 25, 2023 05:15
UK Crypto Revenue Growing Faster than US, Projected 125% in 2023
The UK cryptocurrency market is not only one of the largest in the world, but also the fastest growing. According to data presented by Statista, it is expected to be worth $1.89 billion in 2023, rebounding more than 125% from cyclical lows that the broad digital asset industry recorded last year.
US Remains Crypto Leader, but the UK Grows Faster
Current forecasts project that revenue generated by the US cryptocurrency market will reach $17.36 billion in 2023, making it the largest in the world. In 2023, the industry saw its first-ever decline in revenue, including in the United States, sliding from $12.93 billion in 2021 to $8.63 billion reported in 2022.
However, the end of the cryptocurrency winter, a prolonged decline in the valuations of major digital assets, has meant that miners, investors, and crypto entrepreneurs can again look forward to sizable gains in 2023.
The UK is in second place after the United States, as mentioned in the introduction, with a projected revenue of $1.89 billion and the highest year-on-year (YoY) growth rate among the five largest cryptocurrency economies. Third place goes to Germany with a YoY growth rate of 72% and projected revenue of $1.61 billion, followed by Canada in fourth place (projected revenue of $1.42 billion, which is up 107.5% YoY), and Japan in fifth place (projected revenue of $1.37 billion, which is up 108.7% YoY).
The global cryptocurrency industry's total revenue was $18.52 billion in 2022, after a sharp decline from the record $31.91 billion in 2021. However, the crypto sector is projected to earn nearly $38 billion in 2023 and profit around $65 billion in 2027.
The Dominance of Crypto Is Growing
According to Statista, in 2022, the dominant cryptocurrency exchange globally was Binance, which accounted for 28% of the total market share (12% belonged to Huobi, 9% to Coinbase, and 7% to Kucoin). A number of smaller platforms from different parts of the world held an 18% share.
This information was confirmed by an independent report presented by CryptoCompare in February 2023 on spot market share. According to the data, Binance's dominance was even more significant at 61.8%. The controversy and problems surrounding the BUSD stablecoin have hardly affected the results realized by the trading platforms.
The number of cryptocurrency users has also grown rapidly over the past few years. In 2020, there were 74 million users, 2021, 300 million, 2022, 430 million. And, in 2023, the value is projected to reach 673 million and exceed the one billion milestone in 2027.
The market's continued growth is evidenced by the increase in the amount of money that goes into lobbying activities. According to the Money Mongers report, their value has increased by 922% over the past six years to $25 million. However, in this case, the leader was not Binance but the Coinbase exchange. It spent the most funds on lobbying in 2022, as much as $3.4 million.
It does not change the fact that the industry's rapid growth may be blocked by troubling moves from the US, where regulators and politicians are taking more legislative steps that could adversely affect the digital assets niche. Democrat Senator Elizabeth Warren has stated that she is "building an anti-crypto army." Meanwhile, the CFTC, has sued Binance, claiming that the derivatives offered by the exchange are illegal in the US.
This article was written by Damian Chmiel at www.financemagnates.com. View DetailsAuthor: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Mar 25, 2023 10:30
NFT Sales Drop 5.4% to $193M, Ethereum Dominates with $107M in Sales: Weekly Recap
Over the past week, statistics show non-fungible token (NFT) sales totaled $193.08 million, down 5.44% from the previous week. Ethereum dominated NFT sales with more than $107 million or 55% of all sales, while Solana-centric NFT sales recorded $26.3 million or 13% of sales in the same period. NFT Market Shows Signs of Slowdown With [...]
View DetailsAuthor: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Mar 25, 2023 10:30
Arbitrum’s Governance Token ARB Ranks Within Top 40 Market Capitalizations Following Airdrop
Following the Arbitrum token airdrop, ARB has become a top 40 cryptocurrency as it currently holds the 37th largest market valuation out of more than 23,000 listed digital currencies. Currently, there is a circulating supply of 1,275,000,000 ARB, and the Arbitrum Foundation’s DAO Treasury holds 3.52 million or 35.27% of the airdropped supply. Over the [...]
View DetailsAuthor: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Jun 24, 2023 10:30
Bored Ape Yacht Club’s Market Reign Crumbles as Rivals Take Center Stage
The Bored Ape Yacht Club (BAYC), a prominent non-fungible token (NFT) collection, has been experiencing a decline in its dominance. In the past 90 days, the minimum value of BAYC NFTs has plummeted from 64 ETH to just above 37 ETH. Furthermore, the floor value of the Cryptopunks NFT collection has been higher than BAYC’s [...]
View DetailsAuthor: admin
United States Source: CCNC
May 24, 2023 11:10
Crypto credit cards spending statistics 2023
Digital Asset Service Providers like crypto exchanges around the world have partnered with popular payment providers like Visa Inc. (NYSE:V), Swipe, and MasterCard (NYSE: MA) to issue crypto credit cards and crypto debit cards to allow users to pay for services and products using their crypto holdings. Crypto credit cards function just like traditional credit …
<p>The post Crypto credit cards spending statistics 2023 first appeared on CCNC | Cryptocurrency Newscast.</p>
View DetailsAuthor: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Jul 23, 2023 02:10
Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study
Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. The burden of government debt for every American is 10 times heavier than that for a Chinese citizen, according to the study. U.S. Ranks Second in the World by Debt per [...]
View DetailsAuthor: Crypto Breaking News
United Kingdom Source: Crypto Breaking News
Mar 14, 2023 10:30
US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision
The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central [...]
View DetailsAuthor: Nath Cajuday
Philippines Source: BitPinas
Nov 21, 2022 11:10
Twala Introduces Blockchain-Based Digital Self-Sovereign ID
Twala's digital self-sovereign ID can be used to log in to different apps and websites.
View DetailsAuthor: Akriti Seth
United States Source: DailyCoin.com
Sep 12, 2022 07:50
South Korea Identifies Over $1 Billion Worth of Fraudulent Crypto-Related Transactions in 2022
In the past five years, four trillion Korean won worth of fraudulent crypto transactions have been caught in South Korea.
Continue reading South Korea Identifies Over $1 Billion Worth of Fraudulent Crypto-Related Transactions in 2022 at DailyCoin.com.
View DetailsAuthor: Cointelegraph By Jesse Coghlan
United States Source: Cointelegraph.com News
Jun 13, 2022 08:25
NFT flipping not so profitable for more than half of buyers: Survey
Though a majority are down on their NFT purchases, there are signs which point to a healthy and robust market in the long term.
View DetailsHong Kong Source: Blockchain News
Apr 04, 2022 10:40
Institutional Crypto Exposure Hits 51%, Goldman Sachs Study Shows
Out of 172 institutional clients surveyed, leading global investment bank Goldman Sachs found out that 51% of them had crypto exposure. (Read More)
Author: Agne Cimermanaite
United States Source: DailyCoin.com
Jan 02, 2022 08:00
Cryptocurrency World Map Statistics: Which Coins Received the Most Attention in 2021?
2021 was full of key moments that fuelled cryptocurrency growth, increasing global interest in various crypto assets.
Continue reading Cryptocurrency World Map Statistics: Which Coins Received the Most Attention in 2021? at DailyCoin.com.
View DetailsAuthor: DailyCoin
United States Source: DailyCoin.com
Oct 19, 2021 08:05
Crypto Flipsider News – US Treasury to Modernize for Cryptos, ETH Supply Shock, $639M BNB Burn, Polkadot $774M Development Fund, Crypto Fraud Statistics
Read Tuesday's breaking news in the daily digest!
Continue reading Crypto Flipsider News – US Treasury to Modernize for Cryptos, ETH Supply Shock, $639M BNB Burn, Polkadot $774M Development Fund, Crypto Fraud Statistics at DailyCoin.com.
View DetailsHong Kong Source: Blockchain News
Sep 29, 2021 10:35
Institutional Investors Turning Bullish on Crypto: Survey Suggests
A new survey has highlighted the increasing bullish stance of institutional investors in the ecosystem.
(Read More)