Market Analysis
Mass adoption of cryptocurrency is continuing to expand and the crypto world is growing exponentially in tandem. Only 66 cryptocurrencies existed in 2013, a tally which rose to 506 by 2014. Now in 2022, the market contains more than 10,000. [1] Cryptocurrency trading volume reached several peaks in 2021, its highest being $4 billion on May 19. There are over 300 million crypto users globally and 18,000 businesses are now accepting the currency worldwide.
In 2021, investors across the globe accrued a total of $162.7 billion worth of crypto gains, a massive leap from the $32.5 billion generated in 2020. [2] Despite early 2022’s bearish market conditions, cryptocurrency market capitalization in the second quarter nevertheless equals $1.17 trillion. [3] Understandably, that figure is expected to climb in coming years as global markets—and interest rates—recover from the negative impact of COVID-19. Today in 2022, there are over 81 million wallet users, a 190% increase from 2018 to 2020. [4]
In its decade of existence so far, the cryptocurrency sector has already distinguished itself with some remarkable accomplishments in terms of turnover and technological evolution. This young market is full to overflowing with opportunities for new companies and fresh innovations.
[2] Chainalysis
Last modified 7mo ago