Cryptocurrency Market to grow at a CAGR of 12.8 percent to reach USD 4.88 Bn by 2029

(IT-NEWSWIRE.COM, January 04, 2024 ) As per Maximize Market research, the total global market for Cryptocurrency was USD 2.10 Bn in 2022 and is expected to grow at a CAGR of 12.8 percent over the forecast period to reach USD 4.88 Bn by 2029.

Cryptocurrency Market Report Scope and Research Methodology

The report includes a Cryptocurrency Market size estimation and the growth rate along with existing and future trends in the market. The data for the report is collected by using primary and secondary collection methods which is then analysed using both qualitative and quantitative methods. A bottom-up approach is used to estimate the Cryptocurrency Market size.

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Cryptocurrency Market Dynamics

The evolution of decentralized finance (defi), institutional interest and investment and technological Innovation are the growth drivers of the Cryptocurrency Market. exploration and potential adoption of central bank digital currencies by governments and tokenization of real-world assets like real estate, art, and commodities into digital tokens are the opportunities for Market growth.

Cryptocurrency Market Regional Insights

Asia Pacific dominated the largest Cryptocurrency Market share in 2022. The increasing interest in adopting blockchain technology beyond cryptocurrencies and the development of new products and services that leverage blockchain and digital assets Startups and established financial institutions are the regional Cryptocurrency Market growth drivers.

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Cryptocurrency Market Segmentation

By Component

Hardware

FPGA

ASIC

GPU

Software

Mining Software

Exchange Software

Wallet

Payment

By Type

Litecoin

Bitcoin

Dogecoin

Monero

Cardano

Ripple

Tether

Others

By End Use

Trading

E-Commerce & Retail

Peer-to-Peer Payment

Remittance

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Cryptocurrency Key Competitors include:

Binance

Kraken

Bitfinex

Gemini

Bitstamp

Coinbase

HTX

OKEx

eToro

BitPay

Celsius Network

Cardano

ByBit

Polkadot

Uniswap

Maximize Market Research is leading Information Technology and Telecommunication research firm, has also published the following reports:

Decentralized Finance Market - The market size is expected to reach USD 229.60 Bn by 2029 at a CAGR of 44.6 percent during the forecast period.

Blockchain Gaming Market - The market size is expected to reach USD 181.12 Bn by 2029 at a CAGR of 69.1 percent during the forecast period.

About Maximize Market Research:

Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

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Dnyaneshwari Yevale

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akash.r@maximizemarketresearch.com

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Cryptocurrency Market to grow at a CAGR of 12.8 percent to reach USD 4.88 Bn by 2029