Friday, December 8, 2023

Crypto prices drive interest – ideas, activity and innovation: Report.

Cryptocurrency – the digital asset class is in its early days, says a report “What Does The Future Hold For Crypto Exchanges?” that has been published by the Boston Consulting Group in partnership with Bitget, and Foresight Ventures. It emphasizes the growth of digital assets in the long term despite the recent downside price action.

The cryptocurrency industry has seen a massive expansion in the last five years. According to the report, there were only 800 crypto-based applications in 2017. These have now expanded over 10-fold at registered 10,000 today – backed by a surge in institutional capital which stands at 68% of the total trading volume in the crypto market compared to 2020, recorded in 2018. It acknowledges that crypto prices drive interest, which in turn drives ideas and activity and pushes for innovation. The report highlighted that the 2017 initial coin offering (ICO) boom led to the emergence of crypto exchanges that are leading the crypto market today.

The crypto industry, in terms of adoption, is still quite early. Only 0.3% of individual wealth, as per the report, has been injected into digital assets in comparison to 25% of individual wealth invested in traditional assets like equities. It stated that shallow penetration indicates that there is headroom for growth and highlighted North America with an average holding of around $18,000 among crypto holders. This accounts for 0.4% of total individual wealth.

The report predicts crypto holders to grow up to 1 billion by 2030, that is if the nascent asset class follows a similar trajectory to that of the internet.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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