Pune, Nov. 05, 2022 (GLOBE NEWSWIRE) — According to a report by JC Market Research, the global cryptocurrency market is worth $1.41 trillion. The report shows that the market has seen a significant increase in value over the past year, with a total market capitalization of $1.4 trillion. This is a significant increase from the $0.81 trillion market cap in 2020.
The global cryptocurrency market has been growing at an exponential rate in recent years, with more and more people investing in digital currencies. Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control. The most well-known cryptocurrency is Bitcoin, which was created in 2009. Bitcoin is currently the largest cryptocurrency by market capitalization, with a market cap of over $60 billion. Other popular cryptocurrencies include Ethereum, Ripple, Litecoin, and Monero.
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Ethereum is second most known cryptocurrency. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is used to build decentralized applications (DApps) on its platform. The advantage of Ethereum over Bitcoin, or other blockchain technologies, is that Ethereum can support more complex applications. The most popular DApp built on Ethereum is Cryptokitties, a game that allows players to breed and trade digital cats.
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The global cryptocurrency market is still in its early stages, and it is highly volatile. Prices of cryptocurrencies can fluctuate greatly, and the market is often subject to sudden crashes. However, the market has shown great potential for growth, and many experts believe that the cryptocurrency market will continue to grow in the years to come.
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Restraints:
1. Lack of knowledge: Many people are still unaware of cryptocurrencies.
2. Lack of trust: Cryptocurrencies are still a new concept and not everyone is ready to trust them yet.
3. Lack of regulation: Cryptocurrencies are not regulated by any government or financial institution.
4. Volatility: The prices of cryptocurrencies are very volatile and can change rapidly. 5. Fraud: There have been several cases of fraud involving cryptocurrencies.
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Segmentation:
Type of currency:
- Bitcoin
- Ethereum
- Ripple
- Bitcoin Cash
- Litecoin
- others
Type of exchange:
By Process:
By Offering:
Geographical region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East Africa
Key Players:
- Bitmain (China)
- NVIDIA (US)
- Xilinx (US)
- Intel (US)
- Advanced Micro Devices (US)
- Ripple Labs (US)
- Ethereum Foundation (Switzerland)
- Bitfury Group (Netherlands)
- Coinbase (US)
- BitGo (US)
- Binance Holdings (China) Canaan Creative (China). Bitstamp (Luxemburg)
- Ifinex (Hong Kong)
- Ledger SAS (France)
- Xapo (Hong Kong)
- Alcheminer (US)
