Coronavirus (Covid-19) Business Impact Cryptocurrency Market-Global Competition Outlook By 2025

Coronavirus (Covid-19) Business Impact Cryptocurrency Market-Global Competition Outlook By 2025

According to a research report published by Azoth Analytics in August 2019, the Cryptocurrency Market was valued at USD 856.36 Billion in the year 2018. Key factors facilitating high demand of cryptocurrencies include high remittances in developed countries, increasing fluctuation in monetary regulations, and growth in venture capital investments coupled rising awareness among the investors especially in emerging nations. According to the research report, global cryptocurrency market is projected to display robust growth represented by a CAGR of 11.9% during 2019 – 2024.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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Bitcoin currency holds the major share in the market owing to the growing awareness among Asian investors coupled with availability of larger returns is proliferating the market growth. Moreover, growing usage of alternative currencies such as Ethereum, Ripple and Bitcoin Cash due to their captivating features and models has been major factors backing the growth in the industry. Amongst the regions, Europe accounts for the largest regional share in the global Cryptocurrency market. Key factors driving the robust growth rate in European region include presence of enormous consumer base, and legalization of cryptocurrencies as a medium of exchange in many countries coupled with growing internet penetration, supplementing the market growth of Cryptocurrencies in the region. 

A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of Global Cryptocurrency Market. The report analyzes the Cryptocurrency Market by Type (Bitcoin, Ethereum, Ripple, Litecoin and Others) and by Constituents (Exchanges, Mining, Wallets and Payments). The Cryptocurrency market has been analyzed By Region (North America, Europe, Asia Pacific and Rest of the World) and By Country (U.S, Germany and Japan) for the historical period of 2017-2018 and the forecast period of 2019-2024. 

Scope of the Report

Global Cryptocurrency Market (Actual Period: 2017-2018, Forecast Period: 2019-2024)
? Market Sizing, Growth, Forecast
? Analysis by Type – Bitcoin, Ethereum, Ripple, Litecoin, Others
? Analysis by Constituents – Exchanges, Mining, Wallet, Payments
? Competitive Landscape – Market Share Analysis

Regional Cryptocurrency Market – North America, Europe, Asia Pacific, ROW (Actual Period: 2017-2018, Forecast Period: 2019-2024)
? Market Sizing, Growth, Forecast
? Analysis by Type – Bitcoin, Ethereum, Ripple, Litecoin, Others
? Analysis by constituents – Exchanges, Mining, Wallet, Payments

Country Analysis – Cryptocurrency Market by Value – United States, Germany, Japan (Actual Period: 2017-2018, Forecast Period: 2019-2024)
? Market Sizing, Growth, Forecast
? Analysis by Type – Bitcoin, Ethereum, Ripple, Litecoin, Others

Other Report Highlights
? Strategic Recommendations
? Market Dynamics – Trends, Drivers, Challenges
? Company Analysis – Bitmain Technologies, BitGo, NVIDIA Corporation, Ripple Networks and Coinbase

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Customization of the Report
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research. 

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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The post Coronavirus (Covid-19) Business Impact Cryptocurrency Market-Global Competition Outlook By 2025 appeared first on America News Hour.


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INX Crypto Exchange to Launch $117M IPO Next Week

INX Crypto Exchange to Launch $117M IPO Next Week

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Author: erangadot

X Marks the DOT: Polkadot the Unlikely Victim of Centralized Exchanges

X Marks the DOT: Polkadot the Unlikely Victim of Centralized Exchanges


Do major crypto exchanges act in their best interest rather than respecting community-based project guidelines?

The billion-dollar cryptocurrency space is no stranger to hype, as it is considered a factor that increases crypto prices. While this may be, hype generated from major centralized crypto exchanges may actually be creating more harm than good for users involved with certain community-based projects.

For example, Web3 Foundation’s flagship project Polkadot aims to enable a decentralized web where users, rather than internet monopolies, are in control of applications, services and institutions. The project was started in 2017 by some leading names in the blockchain industry, including Ethereum co-founder Gavin Wood. 

On July 26, Wood published a Polkadot blog post stating that the first vote on the Polkadot network had taken place to determine the final “meaning” of Polkadot’s sought after DOT token. The DOT token is used for governance, staking and bonding on the Polkadot network. After two weeks of voting, the community decided on a “redenomination” of the DOT token to take place on Aug. 21. 

The redenomination is a tactic similar to a stock split in traditional equity markets. In this case, all DOT tokens exchanged for 100 new DOT tokens would be at a ratio of 1:100. According to Gavin’s post, the move “would result in a much more ergonomic DOT value.”

While the redenomination of the DOT token was clearly explained, some leading centralized exchanges like Binance and Kraken listed Polkadot’s DOT token on Aug. 18, three days before the agreed-upon redenomination. 

Binance has not returned a request for statement from Cointelegraph, while Kraken denied to comment on the situation.

Shortly after Binance and Kraken listed the DOT token, Wood fired out a series of tweets expressing his concern for the community as a result of the impulsive actions taken by the two exchanges.

What future awaits cryptocurrencies?

As forewarned, some unscrupulous exchanges listed 𝘕𝘦𝘸 𝘋𝘖𝘛 today rather than Friday – the Denomination Day agreed upon by the @Polkadot community.

While we can’t control these CEXs, we can urge them to stop.

Their actions are putting our community at risk.

As Wood noted, the actions taken by the exchanges have put the community at risk. While confusion among traders, speculators and community members has become apparent on CryptoTwitter. A post on the online image-sharing platform Imgur shows how the DOT price immediately shot up 10 times more than its determined value during the first trading hour.

Yet, because of the DOT redenomination period, uniformed community members who thought they were buying the DOT tokens at a very low rate were actually buying them at a much higher price. This will become evident on Aug. 21, Polkadot’s denomination day.

In the meantime, the Polkadot community has taken several actions to warn users against buying the DOT tokens currently listed on Binance and Kraken. For example, the Web3 Foundation sent an email to Polkadot members on Aug. 18 explaining the DOT denomination and how the redenomination will take place. The email also states:

“Unfortunately, some unscrupulous exchanges chose to enact the redenomination on August 18 rather than August 21, the Denomination Day that was agreed upon by the Polkadot community.”

The email further notes that the actions taken by Binance and Kraken were “irresponsible” and “deceptive,” and that they had not only put Polkadot stakeholders at risk but exposed themselves to liability.

While Kraken chose not to discuss the issue directly with Cointelegraph, Jesse Powell, co-founder and CEO of Kraken, sent out a tweet on Aug. 18 sharing his thoughts on the matter:

Regardless of the situation between the Polkadot community and the two exchanges, according to some commentators, this situation illustrates an even larger point: Major crypto exchanges may be toxic for community-based projects. 

Mati Greenspan, a crypto market analyst and founder of market analysis platform Quantum Economics, told Cointelegraph that he isn’t surprised by the actions taken by Kraken and Binance. “Exchanges and brokers are businesses at the end of the day and they’re compelled to do whatever is most profitable. This isn’t a uniquely crypto problem either,” he said. Greenspan elaborated that if the decentralized web is going to move forward, it must proceed without the use of centralized exchanges. 

In a recent interview, Daniel Wang, CEO and founder of the Loopring decentralized exchange and protocol, made a similar remark: “Risks include listing some bad tokens and bad trading behaviors like pump and dumps. So this kind of behavior cannot be solved by any technical solution. It’s a human behavior. And the other one includes market and information manipulation.”

Unfortunately, as Polkadot mentioned in its recent email to community members, there is little that a community-based project can do to counter what was done by the exchanges. “However, since Polkadot is now decentralized and permissionless, we can do little against a determined third party,” the email stated.

Moreover, Galia Benartzi, co-founder of Bancor, a decentralized crypto exchange, told Cointelegraph that it’s difficult to build a new economic paradigm without a bridge from the existing one. However, Benartzi mentioned that while centralized exchanges and marketplaces may be the norm now, it’s unlikely the crypto space will continue to operate this way:

“Currently, centralized exchanges are still a fundamental piece of the digital asset puzzle, while new technologies and mindsets take root, build momentum, face challenges and iterate. But certainly the arch of technology shows us that gatekeeper rents can be effectively decentralized, or at least more widely distributed.”

The post X Marks the DOT: Polkadot the Unlikely Victim of Centralized Exchanges appeared first on BTC Ethereum Crypto Currency Blog.


Author: By TeamMMG

Here’s Why This Surprising Crypto Just Flipped Bitcoin Trading Volume on Coinbase

Here’s Why This Surprising Crypto Just Flipped Bitcoin Trading Volume on Coinbase

The vast majority of the crypto tokens that have been seeing parabolic runs as of late are relatively new, being launched on platforms like Uniswap where traders are apt to throw money at projects related to the DeFi sector.

One surprising “old” token that was popular in 2017 is now seeing parabolic momentum as well, with the cryptocurrency flipping Bitcoin trading volume on Coinbase and Bitfinex.

After being somewhat dead for over a year, OmiseGo (OMG) is now going parabolic, with its price surging from multi-day lows of under $2.00 to highs of nearly $10.00 that were set yesterday.

This massive momentum has been driven by news of Tether (USDT) going live on the OMG network’s transport layer, which appears to have revived the cryptocurrency.

It is unclear as to whether or not this single piece of news will be enough to justify the ongoing uptrend, which may ultimately be followed by a sharp selloff.

At the time of writing, OmiseGo is trading up over 33% at its current price of $7.60.

Earlier this week, it was able to rally as high as $9.25 before it lost its momentum and plunged to lows of $6.00.

In the time since hitting these lows, bulls have stepped up and propelled it back up to its current price levels. It does appear that $8.00 is a new resistance level.

The piece of news that helped the crypto see this parabolic rise from its sub-$2.00 weekly lows was from stablecoin Tether, which has now launched on OmiseGo’s transport layer.

One popular crypto-focused economist spoke about this news in a recent tweet, saying:

“OMG +70% on this news and 2.5x in five days. Some traders knew and acted beforehand. Impressive turnaround for what used to be a total shitcoin.”

This intense parabolic rally appears to have been driven primarily by a massive influx of trading volume across exchanges, with the sheer magnitude of buying pressure on Coinbase allowing the crypto’s trading volume to flip that of Bitcoin.

One analyst spoke about this, noting that it also flipped that on Bitfinex, and was on par with that seen on Binance.

“OMG has now flippened BTC volume on Coinbase, Binance, and Bitfinex. 4x on Coinbase, 2x on Bitfinex, and at par on Binance.”

Image Courtesy of Hsaka.

Unless Tether’s launch on the OmiseGo network drives massive traffic to the blockchain, this may end up being a “sell the news” event.


Author: admin

Leading Cryptocurrency Exchange PayBito to Add More Altcoins to the Platform

Leading Cryptocurrency Exchange PayBito to Add More Altcoins to the Platform

Global cryptocurrency exchange PayBito is expanding its portfolio of crypto assets by planning to add more prominent altcoins to the platform to offer diversification of trading options for the users.

PALO ALTO, Calif., Aug. 22, 2020 /PRNewswire-PRWeb/ — Leading cryptocurrency exchange PayBito has revealed its plans to add more prominent crypto assets and altcoins to its coin portfolio by the end of 2020. The platform is globally recognized for its extensive coin listing, which comprises major cryptocurrencies from around the world. It’s been a while since the crypto exchange has been on expansion mode. It was fast to launch the trading platform in India, which got its ban on crypto trading lifted a few months ago. PayBito is the only among cryptocurrency exchanges in India to offer such a diverse portfolio of crypto assets.

“PayBito keeps novelty as a constant within the platform through the inclusion of new assets or advanced features to offer the best trading experience to the users. Expansion of the coin listing is our strategic move to diversify the trading options, especially in emerging markets like India and enable the users to profit more from the trading activities”, commented Raj Chowdhury, Managing Director of PayBito.

At the beginning of the year, PayBito added several prominent crypto assets to the platform, to diversify the trading options for its global users. This time the exchange also wants to focus on the emerging assets that have shown promising growth in the industry. Overall the expansion of the crypto portfolio will offer varied trading prospects to PayBito’s global user base.

  • About PayBito:
  • PayBito is a leading cryptocurrency asset trading platform operating globally. The platform is designed and managed by a team with rich experience in Banking security systems, Cryptocurrency trading, and Blockchain technology. It is available in the web version as well as in iOS and Android stores. PayBito services include white label cryptocurrency exchange, white-label payment gateway, exchange affiliate, and coin listing. PayBito offers some of the best rates and top-notch security in the crypto world.

    SOURCE PayBito


    Hawaii: 12 crypto exchanges allowed to operate without license

    Hawaii: 12 crypto exchanges allowed to operate without license

    Yesterday, the HTDC (Hawaii Tech Dev Corp), a structure set up for digital currency innovation, announced that 12 crypto exchanges participating in the pilot program will benefit from a special facility and will therefore be able to operate without a license.

    The program, which will start in the State of Hawaii, was created in collaboration with the Digital Currency Innovation Lab (DCIL), the Department of Commerce and Consumer Affairs, the Division of Financial Institutions (DFI) and the Hawaii Technology Development Corporation (HTDC), and will be the first in the country to carry out a project of this magnitude.

    This is about freedom from constraints in order to be able to operate in the territory without having obtained a license to transfer money and currencies. 

    Obviously, in any case, the crypto exchanges will have to be compliant with all the regulations of the state.

    The programme will last for two years and will end on December 31st, 2022. Of the 19 companies that applied for it, only 12 were found to be eligible to participate in the program and these are: 

  • Apex Crypto, 
  • bitFlyer USA, 
  • BlockFi Trading, 
  • CEX.IO, 
  • Cloud Nalu, 
  • Coinme, ErisX, 
  • Flexa Network, 
  • Gemini Trust Company, 
  • Novi Financial, 
  • River Financial,
  • Robinhood Crypto.
  • Hawaiian users will now have the opportunity to choose the solution that suits them best, said the Commissioner of Financial Institutions, Iris Ikeda:

    “We are excited to welcome our inaugural batch of participants into the DCIL. Hawaii-based consumers can look forward to a variety of options for services offered by digital currency companies in the state. I anticipate leveraging this opportunity for our state to develop a robust understanding of one of the most exciting areas in fintech. States across the nation are starting to review their laws to determine whether the digital currency companies should be regulated for the benefit of consumers”.

    Interestingly, there is also the name of Novi Financial, which is essentially the former Calibra, of Facebook, which will thus be able to test its system. Other attractive names are surely Gemini and Robinhood.

    The participation was high despite the pandemic, continued the acting executive director of HTDC, Len Higashi:

    “The response we have received from participating companies and the community is testament to the value of our program in advancing the potential adoption of digital currencies in the state. Through the DCIL, we hope to identify opportunities for economic development through this effort and very optimistic that we will be able to do so.”


    Author: By Alfredo de Candia
    – 21 Aug 2020

    Coronavirus (Covid-19) Business Impact Cryptocurrency Market-Global Competition Outlook By 2025

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