Cryptocurrency Market 2019 -2024|Market players, Research, Growth

Cryptocurrency Market 2019 -2024|Market players, Research, Growth

May 20, 2020 (AmericaNewsHour) —
Executive Summary According to a research report published by Azoth Analytics in August 2019, the Cryptocurrency Market was… Customers with at least five purchases, roughly 60% of them buy bitcoin first but only 24% remain exclusively loyal to the digital asset Since the release of Bitcoin in 2009, the cryptocurrency industry has continued to evolve to the extent that major banks like JP Morgan Chase have started supporting crypto businesses. This trend h

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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Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’ | Altcoins Bitcoin News

Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’ | Altcoins Bitcoin News

Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’

On May 13, the San Francisco-based cryptocurrency exchange, Coinbase published a report that shows digital currency investors are investing in alternative cryptocurrencies despite bitcoin’s 67% market dominance. Data from Coinbase shows that customers with at least five crypto purchases, roughly 60% of them buy bitcoin first but only 24% remain exclusively loyal to the digital asset.

Coinbase has recently released interesting data on the purchasing of bitcoin (BTC) and alternative digital assets. The company that started in 2012 is one of the most popular cryptocurrency exchanges and is the largest worldwide by reserves held. The recent report dubbed “Bitcoin’s dominance alongside Coinbase customer behavior” indicates that customers who leverage the exchange still enjoy purchasing altcoins other than BTC.

“Among customers with at least 5 purchases, 60% start with Bitcoin but just 24% stick exclusively to Bitcoin. In total, over 75% eventually buy other assets,” the Coinbase report notes.

Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’

Coinbase says that in general, BTC is a “blue-chip asset [that] has remained unchallenged.” But the company also sees a trend where alternative digital currencies are increasingly gaining traction. “This could be for a variety of reasons, but one is largely psychological. As people feel good about their initial crypto investments (into Bitcoin), they branch out to find other possible categorical winners (as evident in the 2017 bull run),” the report highlights. “The converse is also possible, as prices drop and fear grips the market (2018–2019), a flight to crypto safety drove Bitcoin back to the forefront,” the San Francisco company’s report further stressed.

Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’

In 2017, Coinbase said it became evident that BTC’s dominance was threatened in 2017 but regained a higher dominance in 2019. At one point in 2017, BTC’s dominance was below the 40% threshold but jumped as high as 72% in 2019.

Today the average for the last few months is around 65%. “Retail volume on Coinbase shows an increased proclivity to purchase and trade alternative assets,” Coinbase detailed. The exchange added:

This increasing drive is in part due to Coinbase’s continued addition of new assets, but a deeper cut shows that price volatility significantly swings consumer behavior toward non-BTC assets. This trend first appeared in 2017 and is now evident in large spikes. Notably in late 2019 (with Tezos, Chainlink, BAT, 0x, and Stellar) and again in early 2020 (driven by Ethereum, Tezos, and Chainlink).

Retail Investors Branch to Altcoins: ‘60% of Coinbase Customers Start With Bitcoin, Only 24% Stick Exclusively’

These days only 60% of first purchases on Coinbase are BTC, 40% is another coin for first-time buyers. “The retail preference to branch into other assets shows that new users come to crypto through Bitcoin, but generally begin to look for alternative assets and use-cases. In this sense, Bitcoin is also top of the funnel for broader crypto growth,” the Coinbase study highlights.

What do you think about the findings from Coinbase’s recent report? Let us know in the comments section below.

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Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.

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: Altcoins by Jamie Redman


CoinCodex and CoinGecko Break CoinMarketCap's Monopoly on Cryptocurrency Rankings and Price Tracking

CoinCodex and CoinGecko Break CoinMarketCap’s Monopoly on Cryptocurrency Rankings and Price Tracking

Since the release of Bitcoin in 2009, the cryptocurrency industry has continued to evolve to the extent that major banks like JP Morgan Chase have started supporting crypto businesses. This trend has created avenues for various cryptocurrency comparison sites that list prices, market cap, trading volume, and coins in real-time. Nevertheless, this field is no longer a one-stop shop because CoinGecko and CoinCodex have come up, and they are giving CoinMarketCap a run for its money.

CoinMarketCap

CoinMarketCap has crafted a name for itself as the leading crypto price tracker since its inception in May 2013, having been created by Brandon Chez. Last month, CoinMarketCap made the airwaves after it was acquired by Binance, one of the world’s major crypto exchanges, for an undisclosed amount. However, this gesture raised eyebrows in the crypto community about the centralization of notable services like coin tracking, which seems to create room for other cryptocurrency data sites, such as CoinCodex and CoinGecko. 

Nevertheless, Carylyne Chan, the Interim CEO of CoinMarketCap, addressed these concerns by stipulating that the site would run as an independent entity from Binance.

Apart from listing more than 5,000 cryptocurrencies, the website intends to solidify its grip in the crypto space by presenting a platform dubbed CoinMarketCap interest to aid the comparison of lending and borrowing products in DeFi.

Ranking of the top 100 cryptocurrencies is founded on total market capitalization. Each coin comprises metrics, such as price, circulation supply, and a 7-day price graph. Additionally, 24-hour changes and trade volumes, as well as perpetual swaps markets in derivatives are availed. 

CoinCodex

CoinCodex is a cryptocurrency listings website that offers comprehensive overviews and crypto prices of at least 5,000 coins in real-time. The platform has an action metric that enables users to compare a specific cryptocurrency with another for more insights.  

 

With CoinCodex, you can gather data from at least 200 crypto exchanges enabling you to develop portfolios based on your investments. The platform offers a user-friendly interface and comprises an ICO calendar that features information about active, upcoming, and completed token sales in the crypto space. Additionally, a detailed summary of every coin is presented. 

CoinGecko

CoinGecko is another reputable cryptocurrency tracking site based on distinctive metrics. For instance, it has a “Gecko” score measure made up of social and developers estimates. Precisely, the social score shows the community activity on social media platforms, such as Reddit, Twitter, and Facebook, whereas the developer measure indicates the crypto assets’ development venture.

CoinGecko lists more than 7,000 coins and tracks various activities like major events and open-source code development. 

It also has an informative parameter because it shows the ranks of coins based on interest or value level based on factors like public likeability, market capitalization, and liquidity.

If you are interested in the crypto mining space, CoinGecko is a useful resource because it has a mining calculator segment enabling you to know whether mining a certain coin is profitable and how long it will take to break even or make some revenue. 

Bottom Line 

Whether you are a crypto investor, enthusiast, trader, miner, or want to keep track of price movement, CoinCodex, CoinGecko, and CoinMarketCap are ideal resources because they offer unique insights based on your tastes, needs, and preferences. Additionally, you should not put all your eggs in one basket by depending on only CoinMarketCap concerning cryptocurrency price tracking endeavors because CoinGecko and CoinCodex are notable alternatives. Over-relying on one website can be dangerous as witnessed in 2018 after CoinMarketCap decided to shut out data from South Korean exchanges, which triggered a price crash in the crypto market because of panic selling. 

Source: blockchain.news

Author: Brian Njuguna


Cryptocurrency Market 2019 -2024|Market players, Research, Growth

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