With 16.2% CAGR, Cryptocurrency Market Growth to Surpass USD 5,103.72 billion by the year 2028

Market Overview:
Global Cryptocurrency Market was valued at USD 1,784.20 billion in 2021 and is expected to reach USD 5,103.72 billion by the year 2028, at a CAGR of 16.2%.

Cryptocurrency is a digital payment system that doesn't rely on banks for transaction verification. This system is peer-to-peer which means it enables anyone anywhere to send and receive payments. Cryptocurrency payments exist completely in the form of digital entries in an online database describing specific transactions and it doesn't exist in a real physical form. When One transfers cryptocurrency funds, the transactions are recorded in a public ledger and the cryptocurrency is stored in digital wallets.

Cryptocurrency involves encryption to verify transactions which involve advanced coding for storing and transmitting cryptocurrency data between wallets and to public ledgers, such encryption is to done to provide security and safety to the transactions. Today, Cryptocurrency comes with unique opportunities in the history of finance which is due to the application of the power of the internet and blockchain technology with the help of crypto it's even now possible to easily send direct and secure payments globally.

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Market Dynamics:
Driver:
The primary factor driving the demand for cryptocurrency is the several benefits offered by it. Along with the security, Cryptocurrency charges are comparatively low. Even the cryptocurrencies felt increased investments during the market crash. Investors see low prices to be a better entry point in such situations, which in conclusion leads to greater growth of such currencies. Hence, such benefits of cryptocurrencies that go far beyond their borderless and decentralized nature and high-end technology base blockchain acting as its distributed public ledger is driving the growth of the market.

Opportunities:
Increasing Adoption of Cryptocurrencies is expected to result in exponential demand for the overall crypto market in the upcoming days. Presently, cryptocurrencies can be easily bought from crypto exchanges, and investors have lots of options to choose from. For traders to short-term investors to long-term investors, there is a cryptocurrency for everyone, even, if an investor doesn't want to buy the most expensive cryptocurrencies like Bitcoin and Ethereum.

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Market Segmentation
By Type
• Bitcoin (BTC)
• Ether (ETH)
• Litecoin (LTC)
• Others

By Application
• Transaction
• Investment
• Others

By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

Players Covered in Cryptocurrency Market are :
• ZEB IT Service
• Coinsecure
• Coinbase
• Bitstamp
• Litecoin
• Poloniex
• BitFury Group
• Unocoin Technologies Private
• Ripple
• OKEX Fintech Company
• Bitfinex and other major players.

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Key Developments Observed in the Market
• In September 2018, Intel added a new Intel Programmable Acceleration Card (PAC) and the Intel Stratix 10 SX FPGA, Intel's most powerful FPGA, to its field-programmable gate array (FPGA) acceleration platform range. This high-bandwidth card takes advantage of the Intel Xeon CPU acceleration stack with FPGAs, giving data center developers a stable forum to deploy FPGA-based accelerated workloads.

• In June 2018, Bitfury extended its global activities to Dubai, United Arab Emirates. The Dubai office reaffirms the company's dedication to developing a blockchain-based solution for governments, businesses, and organizations in the area.

• In March 2018, NVIDIA unveiled a range of new innovations and collaborations that would extend its future inference market to 30 million hyper-scale servers around the world while lowering the cost of providing deep learning-powered services significantly.

An in-depth analysis of demand forecasts, market tendencies, and key micro and macro variables is included in the research. The factors that are driving and inhibiting the growth of the Cryptocurrency market are also revealed in the report. Using analytical tools like Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Cryptocurrency market, the study provides insights into the industry. Further, it examines current market trends and gives predictions from 2022-2028. We have also highlighted upcoming market trends that will have an impact on demand within the anticipated time frame. In addition, the competition analysis included in each regional market sheds light on the market share of the major players. Experts in the industry-validated the accuracy of the information we gathered from Cryptocurrency manufacturers, suppliers, consumers, trade groups, government agencies, trade journals, external databases, and our internal databases.

Key Market Deliverables
1. Accurate growth rate of the global cryptocurrency market over the forecast period
2. Leading manufacturing and software companies involved in the Market industry
3. Key current cryptocurrency industry trends will shape the market in the future
4. Major driving factors and opportunities in the target industry
5. Key niches at which players profiling with systematic plans, financials, and also recent advancements
6. Leading segments flourishing at the maximum growth rate while delivers experience a steady growth

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