Cryptocurrency Exchanges Market 2020 Global Trend, Growth, Demand, Size, Segmentation and Opportunities Forecast To 2024 – Cole Reports
According to this study, over the next five years the Cryptocurrency Exchanges market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019. In particular, this report presents the global revenue market share of key companies in Cryptocurrency Exchanges business, shared in Chapter 3.
This report presents a comprehensive overview, market shares and growth opportunities of Cryptocurrency Exchanges market by product type, application, key companies and key regions.
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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
This study considers the Cryptocurrency Exchanges value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
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This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
Research objectives
Major Points from Table of Content:
1 Scope of the Report
2 Executive Summary
3 Global Cryptocurrency Exchanges by Players
4 Cryptocurrency Exchanges by Regions
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global Cryptocurrency Exchanges Market Forecast
11 Key Players Analysis
11.1 Binance
11.1.1 Company Details
11.1.2 Cryptocurrency Exchanges Product Offered
11.1.3 Binance Cryptocurrency Exchanges Revenue, Gross Margin and Market Share (2017-2019)
11.1.4 Main Business Overview
11.1.5 Binance News
11.2 Coinbase
11.2.1 Company Details
11.2.2 Cryptocurrency Exchanges Product Offered
11.2.3 Coinbase Cryptocurrency Exchanges Revenue, Gross Margin and Market Share (2017-2019)
11.2.4 Main Business Overview
11.2.5 Coinbase News
11.3 Poloniex
11.3.1 Company Details
11.3.2 Cryptocurrency Exchanges Product Offered
11.3.3 Poloniex Cryptocurrency Exchanges Revenue, Gross Margin and Market Share (2017-2019)
11.3.4 Main Business Overview
11.3.5 Poloniex News
Continue…
12 Research Findings and Conclusion
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Contents
- Covid-19 Impact on Cryptocurrency Exchanges Market 2020- Future Demands and Manufacturers Development Forecast
- April 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)
- 3 Reports Look at North Korea’s Lazarus Group, Iran’s Farhad Exchange, and the Crypto Ponzi Futurenet
- Council Post: Why Your Crypto Exchange Tax Documents Might Not Be Accurate
- Tether Held on Exchanges Could Help Forecast Bitcoin Bull Runs
Covid-19 Impact on Cryptocurrency Exchanges Market 2020- Future Demands and Manufacturers Development Forecast
Cryptocurrency Exchanges Industry 2020 Market Research Report” A new report added by DeepResearchReports.com to its research database. Cryptocurrency Exchanges Market is segmented by Regions/Countries. All the key market aspects that influence the Cryptocurrency Exchanges market currently and will have an impact on it have been assessed and propounded in the Cryptocurrency Exchanges market research status and development trends reviewed in the new report.
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Next, learn how to build the strategy and business case to implement. Learn about Cryptocurrency Exchanges market and how it can provide value to your business. In this market, you will find the competitive scenario of the major market players focusing on their sales revenue, customer demands, company profile, import/export scenario, business strategies that will help the emerging market segments in making major business decisions. This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.
About the report:
The new tactics of Cryptocurrency Exchanges market report offers a comprehensive market breakdown on the basis of value, volume, CAGR, and Y-o-Y growth. For business robust expansion, the report suggests new tools and technology development will drive to boom in the near future by 2026. The Cryptocurrency Exchanges market report provides a comprehensive outline of Invention, Industry Requirement, technology and production analysis considering major factors such as revenue, investments and business growth.
This report for Cryptocurrency Exchanges Market discovers diverse topics such as regional market scope, product-market various applications, market size according to a specific product, Cryptocurrency Exchanges sales and revenue by region, manufacturing cost analysis, industrial chain, market effect factors Analysis, and more.
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Table of Contents
Deep Research Reports is digital database of syndicated market reports for global and China industries. These reports offer competitive intelligence data for companies in varied market segments and for decision makers at multiple levels in these organizations.
This release was published on openPR.
Source: www.openpr.com
Author: DeepResearchReports
April 2020 Report Into Cryptocurrency Exchanges (From CryptoCompare)
April 30th Saw Historic Volumes Ahead of Bitcoin Halving
In April, crypto spot markets saw another historic daily volume record, totalling $66.2bn on April 30th – as Bitcoin soared above $9,000. While this doesn’t match the daily volumes seen on March 13th ($75.9bn), it still represents the second highest volumes experienced on record.
The majority of this figure came from Lower Tier exchanges ($48.3bn), with volume from Top Tier exchanges totalling $17.9bn. This figure once again represents one of the highest volume trading days in history for Top Tier exchanges.
Binance the Only Exchange to See Derivatives Growth in April
In contrast to all other derivatives exchanges, Binance’s derivatives market volumes increased 11.6% in April, to $108bn. Binance overtook BitMEX, which traded $69.3bn, a decrease of almost 40% since March.
Huobi was the largest derivatives exchange in April, and traded $133bn (down 10.5% since March). OKEx followed with $113bn (down 31.4%)
Top Tier Volumes Surged as Bitcoin Dipped Below $9K on the 30th April
As Bitcoin dipped below $9,000 on the morning of the 30th of April, Binance represented the majority of trading volume (BTC/USDT market), trading a total of $15mn at 11am BST. At this moment, it represented approximately 50% of trading volume among 7 of the largest top-tier exchanges.
Binance and OKEx Remained Top Players in terms of Volume
Binance and OKEx remained the top players in terms of volume in April relative to other Top Tier exchanges, capitalising once again on the volatility seen on the 29th and 30th. On the 30th, Binance and OKEx traded $3.6bn and $2.5bn respectively while the next largest exchange (Coinbase) traded $818mn.
CryptoCompare’s Exchange Benchmark aims to serve investors, regulators and crypto enthusiasts by scoring exchanges in terms of transparency, operational quality, regulatory standing, data provision, management team, and their ability to monitor trades and illicit activity effectively. Rather than drawing attention specifically to bad actors, we instead highlight those that behave in a manner that is conducive to maintaining an efficient and fair market, ensuring greater safety of investors. We have hence introduced the notion of “Top Tier” vs “Lower Tier” volumes.
In April, Top Tier volumes decreased 15% to $244bn, while Lower Tier volumes decreased only 4% to $857bn.
In April, spot markets saw another boost in daily volume totalling $66.2bn in a single day (30th April). While this doesn’t match the daily volumes seen on March 13th ($75.9bn), it still represents the second highest volumes experienced on record.
The majority of this figure came from Lower Tier exchanges ($48.3bn), with volume from Top Tier exchanges totalling $17.9bn. This figure once again represents one of the highest volume trading days in history.
Categorising exchanges by tier level based on our rigorous Exchange Benchmark methodology helps capture a more representative picture of where the market has moved.
Exchanges that charge traditional taker fees represented 78.1% of total exchange volume in April, while those that implement trans-fee mining (TFM) represented less than 22%. Last month, fee charging exchanges represented 80% of total spot volume.
Fee-charging exchanges traded a total of $860bn in April (down 9% since March), while those that implement TFM models traded $236bn (up 6% since March).
In April, volume from many of the largest Top Tier exchanges decreased 26% on average (vs March).
Binance was the largest Top Tier exchange by volume in April, trading $48.4bn (down 24%). This was followed by OKEx trading $41.4bn (down 13%), and Coinbase trading $9.1bn (down 31%).
Binance and OKEx remained the top players in terms of volume in April relative to other Top Tier exchanges, capitalising once again on the volatility seen on the 29th and 30th. On the 30th, Binance and OKEx traded $3.6bn and $2.5bn respectively while the next largest exchange (Coinbase) traded $818mn.
Top Tier Volumes Surge as Bitcoin Dips Below $9K on the 30th April
As Bitcoin dipped below $9,000 on the morning of the 30th of April, Binance represented the majority of trading volume (BTC/USDT market), trading a total of $15mn at 11am BST. At this moment, it represented approximately 50% of trading volume among 7 of the largest top-tier exchanges.
Bitfinex traded $6.1mn on its BTC/USD market (~20%), followed by OKEx at $3.2mn (~10%) on its BTC/USDT market.
Bitcoin to Fiat Volumes
BTC trading into USDT decreased 26% in April to 16.1mn BTC vs 21.6mn BTC in March. Trading into USD and JPY also dropped to 1.8mn BTC (down 35%) and 1.2mn BTC (down 35%) respectively. The BTC/USDT market now represents 74% of total BTC traded into fiat or stablecoin.
Stablecoins PAX and USDC followed in terms of total volume traded into BTC. BTC/PAX and BTC/USDC markets traded 0.85mn BTC (up 27%) and 0.82mn BTC (down 39%) respectively in April, beating the BTC/EUR and BTC/KRW markets in terms of volume.
USDC and PAX have maintained popularity in recent months, with both now representing approximately ~4% of BTC volume into stablecoins. Despite their growth, the BTC/USDT pair still represents the majority of BTC traded into stablecoins at ~90%.
Derivatives volume decreased 25% in April 2020, totalling $456bn. Meanwhile, total spot volumes have only decreased 13%. As a result, derivatives represented 27% of the market in April (vs 30% in March).
Huobi was the largest derivatives exchange in April, and traded $133bn (down 10.5% since March). OKEx followed with $113bn (down 31.4%)
In contrast to all other derivatives exchanges, Binance’s derivatives market volumes increased 11.6% in April, to $108bn. Binance overtook BitMEX, which traded $69.3bn, a decrease of almost 40% since March.
Institutional player CME saw futures volumes decline 11.1% to $4.5bn.
On the 30th of April, daily derivatives trading volume totalled $39.1bn. On this day, OKEx traded the greatest amount at $10.9bn followed by Binance with $10.3bn.
Binance has quickly become a major derivatives player in a short space of time, with volumes increasing steadily since the start of the year. The derivatives space has gradually developed in terms of the number of products available across all market players.
In terms of total futures products, OKEx led in April with an average of 97 products with positive volume, followed by FTX with 72 products. Huobi added perpetual swaps at the end of March and traded the third greatest number of products on average in April, at 35 products.
Derivatives exchange Deribit traded $168mn in options on the 30th of April. This represents the second highest volume of options traded since the BTC price crash on the 13th of March.
Despite the volume surge on the 30th of April, Deribit’s options volumes continued to decrease to $1.47bn in April overall (down 29% since March).
CME futures volumes have continued to decrease since the March 13th price crash. They have decreased a further 11.1% to $4.5bn in April.
Source: blog.bitmex.com
3 Reports Look at North Korea’s Lazarus Group, Iran’s Farhad Exchange, and the Crypto Ponzi Futurenet
On May 4, 2020, the blockchain surveillance firm Chainalysis published a three-part series covering a crypto Ponzi scheme, North Korea, and Iran’s use of digital currencies like bitcoin. The company’s research papers discuss the Poland-based crypto Ponzi called Futurenet, a hosting service allegedly tied to North Korea, and how Iran-based exchanges are bypassing OFAC sanctions through the use of digital currencies.
This week Chainalysis published some findings on cryptocurrency usage in Iran, North Korea, and a Ponzi scheme called Futurenet. Mainstream media has been watching North Korea closely, as the country’s supreme leader Kim Jong-un has recently been rumored to have passed away. Other rumors say Jong-un “vanished” because of the coronavirus outbreak. Not too long ago a United Nations report estimated that North Korea (NK) has stockpiled at least $670 million worth of cryptocurrencies like BTC.
The Chainalysis’ NK briefing highlights how an alleged anonymity host provider from Switzerland called Black Host has been accepting digital assets for goods and services. Black Host claims to offer anonymous email services, virtual private networks (VPN), and even SIM cards. Despite the fact that many people think Black Host is not doing anything wrong, Chainalysis believes the Black Host platform is connected with the criminal masterminds called the Lazarus Group. According to a myriad of reports, the Lazarus Group is North Korea’s cyber and crypto crime syndicate.
Lazarus Group has been accused of hacking cryptocurrency exchanges and looting bitcoin from the platforms. The Switzerland-based bullet-proof hosting provider Black Host allegedly shared an address with the syndicate gang, according to the Chainalysis findings. “Blockchain analysis suggests bullet-proof hosting provider Black Host received Bitcoin from an address linked to Lazarus Group exchange hack,” the firm disclosed.
North Korea is an OFAC sanctioned country, but not the only country accused of leveraging digital currencies to avoid sanctions. The second report published by the blockchain analysis firm, discusses the situation in Iran as far as cryptocurrencies are concerned. “Iran’s Central Bank [is] voicing its intention to pursue cryptocurrency projects aimed at getting around sanctions, many exchanges such as Localbitcoins have stopped offering service to Iranian users to limit their exposure to possible sanction violations,” Chainalysis notes.
The blockchain intelligence company provides a comprehensive overview of the Iranian crypto trading platform called the Farhad Exchange. “While Iran is cut off from many international exchanges, local exchanges continue to operate in the country, drawing scrutiny from U.S. and international regulators. For this reason, it’s crucial to understand how Iranian exchanges interact with the international cryptocurrency ecosystem, and especially their exposure to regulated exchanges,” the study’s introduction explains.
The final report from Chainalysis discusses the Futurenet Ponzi scheme, a project that was initiated in Poland. Chainalysis calls Futurenet a “cryptocurrency scam with purpose-built payment processors.”
“At first glance, Futurenet appears no different from any other cryptocurrency-based Ponzi scheme. Victims pay into the scam based on promises of large returns, and are told they can make even more money by recruiting their friends as well,” the company’s report reveals. The Chainalysis briefing on Futurenet adds:
Upon further investigation, Futurenet appears to have its own infrastructure of purpose-built shell companies to facilitate cryptocurrency payments to and from victims.
The three briefings give a comprehensive perspective of these subjects and how the operations work. The briefings also contain the company’s Reactor graphs that are tethered to each investigation.
What do you think about the three topics researched by Chainalysis? Let us know in the comments below.
Bitcoin, Black Host, BTC, Chainalysis, Crypto Ponzi, Cryptocurrency, Farhad Exchange, Futurenet, Iran, Iran’s central bank, Kim Jong-un, Lazarus Group, north korea, OFAC, Ponzi, report, Sanctions, Switzerland
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Source: news.bitcoin.com
Author: News by Jamie Redman
Council Post: Why Your Crypto Exchange Tax Documents Might Not Be Accurate
The tax documents you receive at the end of the year from your cryptocurrency exchange can be extremely misleading. Cryptocurrency investors need to report their capital gains and losses as well as any crypto earned as income to stay compliant with tax reporting requirements — here in the U.S. and in most countries around the world. Because cryptocurrency exchanges can’t report on the transactions that occur outside their exchange, their tax reports won’t be accurate if you use any exchanges, wallets or other crypto services outside the one sending you those documents.
All major exchanges face this reporting challenge. This tax reporting problem stems from one of cryptocurrency’s core features: transferability.
Sending Crypto From Wallet To Wallet
Being able to send crypto from one wallet to another without the need of a third-party validator is one of the greatest advancements that crypto brings. It allows for a true peer-to-peer mechanism for value transfer. I can send Bitcoin that I mined to a cold wallet for safekeeping. Later on, I can send it to my exchange of choice to sell or trade for different assets. Or I could send it to a friend’s wallet. Transfers in and out of exchanges and from one wallet to another happen all the time.
These transfers make it difficult for cryptocurrency exchanges to know the cost basis of your holdings. The term “cost basis” refers to the amount you paid or spent to acquire your crypto. If I purchase 0.1 Bitcoin for $500 on Gemini and then send it over to Kraken, Kraken has no way of knowing that the 0.1 Bitcoin that appeared in my Kraken wallet cost me $500 to obtain. Kraken does not know my cost basis. This information is essential for calculating your capital gains and losses, and doing your taxes.
Real-World Example
Let’s use Coinbase as an example, since it has such a large presence in the U.S. Coinbase issues a number of different reports to qualifying users: 1099-K, 1099-MISC and a complete Transaction History Report. As the co-founder and CEO of cryptocurrency-focused tax software, I deal with these forms on a daily basis. Each of them is restricted by the data Coinbase does and does not have, specifically cost basis data.
1099-K reports on your gross proceeds from Coinbase. To receive one, you must be a Pro or Prime user and have more than 200 transactions with a total value of $20,000 or more (or meet your state’s applicable reporting level). The form does not detail your gains, losses or the cost basis of your holdings. As a result, the form is not helpful from a tax reporting perspective. In addition, transfers to wallets outside Coinbase will be marked as proceeds on this form, inflating your numbers. This is troublesome for investors, because transfers between cryptocurrency exchanges and wallets are not taxable events and should not be marked as such. 1099-K does not help the taxpayer. It only serves as an indicator to the IRS that you have crypto-related activity that should be getting reported.
1099-MISC is sent to Coinbase users who have received at least $600 worth of cryptocurrency from its Earn service, rewards program and/or staking. This form is useful for tax reporting because it details the amount of crypto you earned as income in U.S. dollars. This income gets reported on your taxes.
Finally, the Transaction History Report details all of your buys, sells, trades, withdrawals and deposits that happened within your account. This is the report that investors should use to piece together their trade history and calculate their gains and losses from their investments. Of course, this transaction history needs to be reconciled with any other transaction history from other exchanges or cryptocurrency platforms.
Proper Reporting
If you are a user of multiple crypto platforms, exchanges or wallets, you should understand that the forms you receive from your crypto exchanges will not always be helpful for reporting. And some, such as the 1099-K, may even be misleading. To properly report, you should pull together all of your transaction history from all of your platforms into a single unit of record and then carry out the necessary capital gains and losses calculations. Transfer these gains and losses to IRS Form 8949 the same way you would if you were trading/investing in stocks.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
Source: www.forbes.com
Author: David Kemmerer
Tether Held on Exchanges Could Help Forecast Bitcoin Bull Runs
A crypto data firm rep explained how analysis of Tether’s on-chain data can be used to forecast Bitcoin’s bull runs.
A crypto data firm representative explained how Tether’s on chain data can potentially forecast Bitcoin’s (BTC) bull runs.
Marketing and social media director at Santiment, Brian Quinlivan, told Cointelegraph on May 7 that the percentage of USDT held on exchanges often anticipates Bitcoin’s bull runs. He explained the principles behind the analysis:
“Most USDT isn’t just being taken off exchanges to be stored in wallets or cashed out through a FIAT-based platform like Coinbase. When people aren’t using USDT, they most often put it in Bitcoin. And what’s cool is the fact that this USDT percentage often fluctuates a few hours or days in advance of BTC’s price reacting to it. So monitoring this metric in advance can end up producing a tremendous advantage by catching a sudden fluctuation early enough.”
Quinlivan pointed out that this correlation started a couple of years after USDT launched, once the stablecoin gained traction. Now, he explained that Tether is clearly utilized as the top price-stable token. He also states that he is confident this correlation will continue to manifest itself in the future. Quinlivan noted that the one year chart has shown a distinct and clear inverse correlation for the past 9-10 months.
Bitcoin price-portion of Tether’s USDT on crypto exchanges chart. Source: Santiment
Quinlivan also pointed out a relationship between the amount of decentralized stablecoin, DAI, on crypto exchanges and Ether (ETH) price. He explained:
“The amount of supply of DAI on exchanges often seems to lead the way in Ethereum’s price. However, this is a bit less consistent than the BTC-USDT tie, since ETH’s price is more reliant on what BTC is doing at any given time.”
Lastly, the data firm rep acknowledged that other metrics are worth looking at as well. He specifically mentioned an interest in social trends, such as keywords and topic mentions on various social platform conversations. He said that — over the past couple of months — the firm observed the fear related to COVID-19 has had a direct inverse correlation to the price of BTC.
After a major downturn in March, Bitcoin is now increasingly showing bullish signs. As Cointelegraph reported earlier today, institutional investors appear to expect a Bitcoin bull run, given that futures on the Chicago Mercantile Exchange recently broke records.
Renewed interest in the leading cryptocurrency is also often attributed to the upcoming halving of Bitcoin’s block reward halving. This interest is not equally distributed and Cointelegraph recently analyzed which countries are the most interested in the event.
Source: cointelegraph.com
Author: Adrian Zmudzinski
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