Cryptocurrency Market Analysis 2021-26 Size, Share, Growth, Trends and Forecast Report
According to the latest report by IMARC Group, titled “Cryptocurrency Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” The global cryptocurrency market size reached a value of US$ 364.5 Billion in 2020 and expects the market to grow at a CAGR of 60.8% during 2021-2026.
Cryptocurrency represents the digital or virtual money secured by cryptography to monitor transactions and prevent counterfeit. It is distributed over a vast network of computers connected to a virtual environment and does not have any physical representation. Cryptocurrency operates through decentralized networks that are based on blockchain technology. The money transfers can be secured through private or public keys and are directly connected to the user’s digital wallet. Cryptocurrency has minimal interference or manipulation from government bodies as it is not issued by any centralized authority. It also offers numerous advantages, including enhanced portability, divisibility, transparency, inflation resistance, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Cryptocurrency Market Trends:
The elevating digitalization across various industries represents one of the primary factors driving the cryptocurrency market. Additionally, the increasing penetration of high-speed internet connectivity across the globe is also propelling the product demand. Moreover, the accelerating trend of the legalization and approval of digital currencies for the purchase, sale, or trade of goods and services across countries and organizations is further augmenting the global market. Apart from this, the growing awareness about the benefits of these currencies, such as increased transparency, reduced risk of unwanted or fraudulent transactions, easy accessibility to online trading platforms that are used through smartphones, etc., is acting as another growth-inducing factor. Furthermore, the advent of bitcoin cash and bitcoin lite, coupled with the expanding market capitalization of popular virtual currencies, is expected to fuel the cryptocurrency market in the coming years.
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Global Cryptocurrency Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Advanced Micro Devices Inc., Alphapoint Corporation, Bitfury Holding B.V., Coinbase Inc., Cryptomove Inc., Intel Corporation, Microsoft Corporation, Quantstamp Inc., Ripple Labs Inc. and Xilinx Inc.
The report has segmented the market on the basis of region, type, component, process and application.
Breakup by Type:
Bitcoin
Ethereum
Bitcoin Cash
Ripple
Litecoin
Dashcoin
Others
Breakup by Component:
Hardware
Software
Breakup by Process:
Mining
Transaction
Breakup by Application:
Trading
Remittance
Payment
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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This release was published on openPR.
Text source: MCC.EXCHANGE
