- The global cryptocurrency market is projected to more than triple to $4.94B by 2030, from an estimated $1.49B in 2020, with a compounded annual growth rate of 12.8% between 2021 and 2030, according to a report from Allied Market Research.
- International crypto transactions and improved transparency in global payment systems will support the increased demand, Allied Market Research said.
- Although the transaction segment will see the fastest growth, crypto mining made up two-thirds of the industry’s 2020 size, and it’s expected to remain dominant through 2030.
- By region, the Asia-Pacific crypto industry will be the fastest growing due to increased competition from a growing number of exchanges, Allied Market highlights.
- Key publicly traded companies supplying the crypto industry include Intel (NASDAQ:INTC), Nvidia (NASDAQ:NVDA), Advanced Micro Devices (NASDAQ:AMD), and Xilinx (NASDAQ:XLNX).
- Another study from Allied Market projects the crypto asset-management market will grow to $9.4B in 2030 from $670M in 2020, Coindesk reports; Asia-Pacific will also see the most growth as there are many crypto mining operations in the area.
- In the crypto market, Bitcoin (BTC-USD) continues to consolidate under $22-K resistance.
- Bitcoin on a Key reversal could higher than $100,000 by year-end
Have a prosperous weekend, Keep the Faith!