By 2030, the cryptocurrency market will have more than tripled in size

According to a recent research, the worldwide cryptocurrency industry will reach $4.94 billion by 2030, more than tripling its projected value of $1.49 billion in 2020.

  • Between 2021 and 2030, Allied Market Research forecasts a compound annual growth rate of 12.8 percent, according to a study released Tuesday.
  • According to Allied Market, the primary drivers will be increasing demand for international remittances and more openness in global financial networks.
  • The mining sector accounted for more than two-thirds of the industry's size in 2020, and it is projected to maintain its dominance through 2030.
  • The transaction sector, on the other hand, will expand at the highest rate, according to the study.
  • Due to increasing competition from a growing number of exchanges, Allied Market predicts that the Asia-Pacific crypto sector will expand at the highest rate.
  • The research closely mirrors a previous study by the same firm into the crypto asset management industry, which it predicts will rise from $670 million in 2020 to $9.4 billion in 2030. Due to the high number of crypto mining businesses in Asia Pacific, demand for asset-management solutions to assist manage their business operations was also recognized as the area with the most significant growth.

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