Global crypto market will more than triple by 2030
#crypto #cryptocurrency #market
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
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