“Cryptocurrency market to be valued at USD 8 billion by the end 2028, driven by increasing adoption by business and governments”

Numerous initiatives and companies offer goods and services that make it easier for ordinary people to use cryptocurrencies and develop the software framework to run on public blockchains, which will further boost the global cryptocurrency market.

Wilmington, Del., July 24, 2023 (GLOBE NEWSWIRE) -- According to rational state analysis, world cryptocurrency market is estimated at USD 5.8 billion in 2022 and is expected to grow at a significant rate CAGR of more than 14% during the forecast period of 2023-2028

Numerous initiatives and companies offer goods and services that make it easier for ordinary people to use cryptocurrencies and develop the software framework to run on public blockchains, which will further boost the global cryptocurrency market.

Cryptocurrencies can reduce or eliminate a variety of transaction fees and exchange rates because they are effectively globalized by being online and not tied to particular national or corporate organizations. Strong perceptions of the potential for 'revolutionary' development in the cryptocurrency sector are anticipated to be influenced by avoiding fees associated with established financial institutions.

Market Scope and Report Overview

According to a deep-dive market assessment by RationalStat, the global cryptocurrency market has been analyzed on the basis of market segments, including type, product type, end use, and geography/regions. (including North India, West and Central India, East India and South India). The report also offers the global and regional market size for the historical period of 2019-2022 and the forecast period of 2023-2028.

Market intelligence for the global cryptocurrency market covers market sizes on the basis of market value (USD/EUR million) for various products/services/equipment, demand assessment in key regions, customer reviews, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key industry developments, import and export data, trade overview, market for components by leading companies, etc.

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Also, the 10-year outlook for the industry and long-term products/services and their implications for the global cryptocurrency market. It also includes the current state of the industry: production levels, capacity utilization, technology quotient, etc. The key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data and outlook, etc.

Explore the insights in the report: Sample Request and Study Scope

The period covered includes data for 2019-2028 along with demand estimates by year.

The cryptocurrency market report analyzes the market on the basis of global economic situations, regional geopolitics, import and export scenarios, trade tariffs, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity additions, technological advances, R&D investments and new market entry, replacement rates, penetration rates, fleet size/installed base, production capacity global and regional, among others.

RationalStat provides market analysis and consulting studies based on robust and dedicated desktop/secondary research backed by a robust internal data repository. In addition, the research takes advantage of real-time insight-based data collected from primary interviews. Market insights and estimates are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.

The Global Cryptocurrency Market report also covers supply chain and value chain analysis providing detailed insights into value chain margins and the role of various stakeholders throughout the value chain. The market dynamics provided in the market study includes market drivers, restraints/challenges, trends, and their impact on the market during the analysis period.

In the competition analysis section, Global Cryptocurrency Market provides detailed competitor benchmarking analysis based on market share of top companies/brands/producers/suppliers, market structure overview with detailed company profiles of 25+ players with their financials, product/service offerings, important developments, business models, etc. This enables clients and report buyers to make sound, accurate and timely decisions.

Macroeconomic scenario and the impact of COVID-19 on the regional economic sentiment of the global cryptocurrency market- request a sample

Analysis of the competition and market structure

These players adopt various strategies to bolster their market share and gain a competitive advantage over other competitors in the global cryptocurrency market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global cryptocurrency market include,

• In June 2023, cryptocurrency exchange Kraken announced that it had acquired cryptocurrency derivatives exchange Crypto Facilities for $160 million.

• In June 2023, the Binance cryptocurrency exchange announced that it had launched a new product called Binance Pay, which allows users to make cryptocurrency payments.

Some of the prominent players contributing significantly to the growth of the cryptocurrency market include Bitmain Technologies Ltd, Intel Corporation, Ripple Labs, Inc., BitGo Inc., Coinbase, CoinDesk.com, Ethereum Foundation, Bitfury Group Limited, Nvidia Corporation, among others.

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RationalStat has segmented the global cryptocurrency market based on type, product type, end use, and region.

• global cryptocurrency Analysis of market value (USD million) and market share (2023-2028) by type

  • Hardware

    • ASIC (Application Specific Integrated Circuit)

    • GPU (Graphical Programming Units)

    • FGPA (Field Programmable Gate Arrays)

  • Software

    • Payments

    • portfolios

    • exchanges

    • Mining

• global cryptocurrency Market value (USD million) and market share analysis (2023-2028) by product type

  • altcoins

  • records

    • IOTA (MIOTA)

    • EOS (EOS)

    • Exchange Union (XUC)

    • TRUE

    • Ontology (ONT)

• global cryptocurrency Analysis of market value (USD million) and market share (2023-2028) by end use

  • Trade

  • E-commerce and retail

  • peer-to-peer payment

  • Banking

  • Consignment

• global cryptocurrency Analysis of market value (USD million) and market share (2023-2028) by region

  • North America

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Eastern Europe

    • Germany

    • United Kingdom

    • France

    • Spain

    • Italy

    • Benelux

    • Nordic

    • Rest of Western Europe

  • Eastern Europe

    • Russia

    • Poland

    • Rest of Eastern Europe

  • Pacific Asia

    • Porcelain

    • Japan

    • India

    • South Korea

    • Australia

    • ASEAN (Indonesia, Vietnam, Malaysia, etc.)

    • Rest of Asia Pacific

  • Middle East and Africa

To learn more about this report and its market players https://store.rationalstat.com/store/global-cryptocurrency-market/

Key questions answered in cryptocurrency Report:

• What will be the market value of the global cryptocurrency market by 2028?

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

• What are the drivers of the global cryptocurrency market?

• What are the key trends in the global cryptocurrency market?

• What is the leading region in the global cryptocurrency market?

• What are the main companies operating in the global cryptocurrency market?

• What are the market shares by key segments in the global cryptocurrency market?

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About RationalStat LLC

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