Dublin, 07 January 2022–(BUSINESS WIRE)–The report “Global Cryptocurrency Report 2021: Implications for COVID-19 and Growth” has been added to ResearchAndMarkets.com Show.
The global cryptocurrency market is expected to grow from $1.44 billion in 2020 to $1.63 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The market is expected to reach $2.73 billion in 2025 with a compound annual growth rate of 13.8%.
The major players in the cryptocurrency market are Advanced Micro Devices Inc. and BitFury Group Limited and BTL Group Ltd. and Coincheck Inc. and Intel Corporation, Ledger SAS, Nvidia Corporation, Ripple, and Xilinx Inc. and Xapo, BitGo, Binance, and Coinbase Global Inc. and CoinDesk and Bitmain Technologies Ltd.
The cryptocurrency market consists of sales of digital or virtual currencies by entities (institutions, sole traders, partnerships) that operate independently of the Central Bank and use cryptographic techniques to organize the formation of their units and verify the transfer of payments.
The main types of cryptocurrencies are Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dash Coin, Litecoin, and others. Bitcoin is a digital currency that uses peer-to-peer technology to facilitate instant payments. Various operations include mining, transactions, and offerings include hardware and software. Cryptocurrencies are used in commerce, retail, e-commerce, banking, and more.
Stable coins are gaining in popularity in the cryptocurrency market. Stable coins are cryptocurrencies that are tied to a physical asset, such as a government-issued currency or a commodity to reduce the volatility of a cryptocurrency. For example, in 2020, the trading volume of stablecoins increased by 500%.
Additionally, in March 2021, India-based financial services firm Techemynt introduced a stablecoin backed by the New Zealand dollar, combining the flexibility of the cryptocurrency with the stability of the New Zealand dollar.
In March 2021, PayPal Holdings Inc, a US-based financial technology company, acquired Curv for an undisclosed amount. With this acquisition, PayPal Holdings, Inc is strengthening and developing its initiatives to support cryptocurrencies and digital assets. Curv is an Israel-based cryptocurrency security company.
Transparency in financial payments is expected to drive the growth of the cryptocurrency market in the coming years. Digital currencies are created using blockchain technology, which allows multiple entities to keep copies of historical transactions, meaning they are not under the control of a single central source.
Centralized systems and human gatekeepers reduce the speed and complexity of transactions while reducing users’ direct control over their funds. There are no intermediaries in cryptocurrency transactions and consumers have the power to stop or pause transactions and record them in their own ledger.
For example, in July 2021, Tesla, a US-based electric car manufacturer, began accepting bitcoin as a payment method due to its transparency and unique value. Therefore, transparency in financial payment is driving the cryptocurrency market.
Main topics covered:
1. Executive Summary
2. Characteristics of the cryptocurrency market
3. Cryptocurrency market trends and strategies
4. Impact of COVID-19 on Cryptocurrencies
5. Cryptocurrency market size and growth
5.1 Global Historic Cryptocurrency Market, 2015-2020, $1 Billion
5.1.1. market drivers
5.1.2. market restrictions
5.2 Global Cryptocurrency Market Outlook 2020-2025F 2030F $1 Billion
5.2.1. market drivers
5.2.2. market restrictions
6. Cryptocurrency market segmentation
6.1 Global cryptocurrency market segmentation by type, date and forecast, 2015-2020, 2020-2025F, 2030F, billion dollars
6.2 Global cryptocurrency market segmentation by process, history and forecast, 2015-2020, 2020-2025F, 2030F, billion dollars
6.3 Global Crypto Market Segmentation by Supply, History and Forecast, 2015-2020, 2020-2025F, 2030F, $1 billion
6.4 Global cryptocurrency market, segmentation by end user, history and forecast, 2015-2020, 2020-2025F, 2030F, billion dollars
Retail and e-commerce
7. Regional and Country Analysis of the Cryptocurrency Market
7.1 Global cryptocurrency market, segmented by region, history and forecast, 2015-2020, 2020-2025F, 2030F, billion dollars
7.2 Global cryptocurrency market, by country, history and forecast, 2015-2020, 2020-2025F, 2030F, billion dollars
For more information on this report, visit https://www.researchandmarkets.com/r/rmq9h9
View the source version on businesswire.com: https://www.businesswire.com/news/home/20220107005338/en/
Laura Wood, Senior Director of Press
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