February 23, 2022
According to the research report titled ‘Global Crypto Trading Platforms Market Size study, by Type (Bitcoin, Ethereum, Cardano, Solana, Others) by End Use (Banks, Fintech Companies, Credit unions, Others) and Regional Forecasts 2021-2027’, available with the MarketStudyReport, global crypto trading platforms market is expected to register considerable growth during 2021-2027.
Significant growth opportunities in emerging and developed countries and the transparency offered by distributed ledger technology are majorly driving the growth of global crypto trading platforms market. Growing acceptance of crypto trading platforms owing to booming population is also boosting the overall market growth over the forecast period.
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According to Tech Jury, Bitcoin market valuation was worth USD 1072.21 billion in February last year and is expected to grow by USD 23.3 billion by the year 2023.
Crypto trading platforms is basically a blockchain technology that includes distributed data storage, peer-to-peer transmission, a consensus process, encryption methods, and smart contracts. However, lack of standardized regulatory framework could hinder the market's growth during the forecast period.
Moving on to the segmental analysis, the marketplace is fragmented based on the type and end-user landscape. Speaking of type, the market is categorized into Solana, Cardano, Ethereum, Bitcoin and others. The end-user landscape of this industry involves credit unions, fintech companies, banks, and others.
The geographical analysis of the worldwide crypto trading platforms industry includes Latin America (Mexico, Brazil), North America (the U.S., Canada), Asia-Pacific (Japan, China, South Korea, India, Australia), Europe (the U.K., France, Spain, Italy, Germany) and the rest of the world. Among these, Europe is likely to capture the majority of the market share by 2027, owing to growing support for digital currency.
On the other hand, North America market is expected to showcase the fastest growth rate between 2021 and 2027. Factors such as the existence of developed countries such as the United States and Canada and rapid digitization are complementing the business dynamics in North American.
Prominent players profiled in the global crypto trading platforms market are FTX, AirSwap, Bitstamp USA Inc., Coincheck Inc., Kraken, Binance, Coinbase Global Inc., eToro Ltd., Coinmama, and BlockFi Lending LLC.