Cryptocurrency is a technology theme that sparks intense debates and divides opinions. For proponents, crypto represents an opportunity for significant wealth accumulation through value appreciation or new services like decentralized lending. Some also view it as a way to express discontent with issues ranging from financial bailouts to privacy infringements.
Conversely, critics contend that the fundamental question of whether cryptocurrencies have any inherent value remains unanswered and that the volatility of many tokens undermines the proposition of crypto as a distinct asset class separate from traditional financial assets.
The cryptocurrency market is challenging to track. It is one of the world’s most polarizing technologies, contributing to endless debate. Crypto is also a nascent industry, subject to high volatility and primarily driven by speculation. The industry has, however, come a long way in just a couple of years, and the pace of innovation is extraordinary. Crypto adoption and institutional interest have grown rapidly, and governments are making progress on regulation. Despite this progress, crypto has a long way to go before it achieves mainstream adoption.
Conversely, critics contend that the fundamental question of whether cryptocurrencies have any inherent value remains unanswered and that the volatility of many tokens undermines the proposition of crypto as a distinct asset class separate from traditional financial assets.
Key Highlights
Despite the 2022 crypto winter, both institutional interest and the number of retail users have grown, with governments positioning themselves as crypto hubs. The regulatory narrative has shifted significantly in favor of cryptocurrencies, moving from calls for outright bans to a focus on proper regulation. The EU is leading the way with its Markets in Crypto-Assets (MiCA) bill, which will introduce tougher but more consistent rules for crypto companies across the EU. Additionally, the crypto space continues to experience rapid innovation, from new token types to scalability solutions.The cryptocurrency market is challenging to track. It is one of the world’s most polarizing technologies, contributing to endless debate. Crypto is also a nascent industry, subject to high volatility and primarily driven by speculation. The industry has, however, come a long way in just a couple of years, and the pace of innovation is extraordinary. Crypto adoption and institutional interest have grown rapidly, and governments are making progress on regulation. Despite this progress, crypto has a long way to go before it achieves mainstream adoption.
Scope
- This report provides an overview of the cryptocurrencies theme.
- It identifies the key trends impacting growth of the theme over the next 12 to 24 months, split into three categories: technology trends, macroeconomic trends, and regulatory trends.
- It includes a comprehensive industry analysis, including market size and growth forecasts for cryptocurrency revenues to 2030, and analysis of the key trends in the publisher's proprietary signals data, including M&A, venture financing, patent, company filing, hiring, and social media.
- The detailed value chain is divided into four layers: infrastructure, blockchain, application, and services.
Reasons to Buy
- The crypto market is immature and constantly evolving. The transformative possibilities of cryptocurrencies come with a host of challenges that must be addressed. High volatility, security concerns, and regulatory uncertainty, especially in the US with the enforcement actions taken by the Securities and Exchange Commission (SEC), are just some of the hurdles that cryptocurrencies face in their journey toward mainstream acceptance. Additionally, issues like the environmental impact of mining and the technology's association with illicit activities pose significant barriers.
- This report is the perfect introduction to the controversial and fast-moving cryptocurrencies theme. It will help readers make sense of the technology behind cryptocurrencies, understand the potential implications of the theme, avoid the pitfalls, and identify the leading players.
Table of Contents
- Executive Summary
- Players
- Technology Briefing
- Trends
- Industry Analysis
- Signals
- Value Chain
- Companies
- Sector Scorecard
- Glossary
- Further Reading
- Thematic Research Methodology
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 21shares
- Abra
- ACI Worldwide
- Adobe
- Alchemy
- Allnodes
- Alphapoint
- Amber
- Anchorage Digital
- Andreesen Horowitz
- AnexMiner
- AntPool
- Apfinity
- Applied Blockchain
- APY.vision
- Argo Blockchain
- Armory
- Atomic Wallet
- AvaTrade
- Awesome Miner
- B2BinPay
- B2Broker
- Baikal Miner
- Bakkt
- Bank of America
- BBVA
- BeInCrypto
- Big Commerce
- Billfodl
- Binance
- Binance.US
- BisonTrails
- Bit Digital
- BIT Mining
- BitAccess
- Bitcoin Depot
- Bitcoin Suisse
- Bitcoin.com
- Bitcoinist.net
- Bitdeer
- Bitfarms
- Bitfinex
- BitFuFu
- Bitfury
- Bitget
- BitGo
- Bithumb
- Bitmain
- BitMex
- BitPay
- Bitstamp
- Bitstop
- Bitwise
- Bleaumi
- Block
- Block.one
- Blockchain
- Blockpass
- Blockstream
- Bloomberg
- BNY Mellon
- Bolt
- BTC.com
- BTCM
- Bullish
- Bybit
- Bytefederal
- Caleb & Brown
- Canaan Creative
- Capital One
- Cash2Bitcoin
- Cathedra
- Celsius
- Certik
- Cex.io
- Chainalysis
- ChainUp
- Charles Schwab
- Checkout.com
- Chorus
- Cipher Mining
- Circle
- Cleanspark
- CNBC
- Coatue
- Coin Shares
- Coin360
- Coinbase
- CoinCloud
- CoinCodex
- Coindesk
- Coinfirm
- Coingate
- CoinGecko
- CoinHub
- Coinify
- Coinigy
- CoinLedger
- CoinMarketCal
- CoinMetrics
- Coinmint
- CoinPayments
- Coinplug
- CoinsBank
- CoinStats
- Cointelegraph
- CoinTracking
- Coinzoom
- Consensys
- CoolWallet
- Copper
- Core Scientific
- CryptAPI
- Crypto.com
- CryptoCompare
- Cryptonews
- Cryptopay
- CryptoQuant
- CryptoSlate
- Cryptowatch
- Cudo Miner
- Curv
- Dapp
- DAppRadar
- Decrypt
- DeepDAO
- DeFi Llama
- DeFi Pulse
- Delta
- Deribit
- Deutsche Börse Group
- Devexperts
- Dfinity
- Digital Currency Group
- Drupal
- Dune Analytics
- Ebang Communication
- Ebay
- ECO
- ECOS
- Ellipal
- Elliptic
- Etherscan
- Everstake
- Exodus
- F2Pool
- FalconX
- Fidelity Digital Assets
- Figment
- Financial Times
- Finoa
- Fireblocks
- FIS
- Flexa
- Forestminer
- Forte
- Foundry
- FTX
- Galaxy Digital
- Gate.io
- Gemini
- General Byts
- Genesis Coin
- Genesis Digital Assets
- Genesis Mining
- Glassnode
- Goldman Sachs
- Goldshell
- Graph Blockchain
- Grayscale
- Greenidge Generation
- Gryphon Digital Mining
- Guarda
- Happy Miner
- Haru
- HexTrust
- HIVE Blockchain Technologies
- Hive OS
- HollaEx
- Huboi
- Hut 8 Mining
- iBeLink
- IBM
- Idology
- iFinex
- IG
- InfStones
- Innosilicon
- Intel
- Interactive Brokers
- IQ Mining
- Iris Energy
- ITrustCapital
- Jaxx
- Kaiko
- Keepkey
- Keystone
- Kiln
- Koinly
- Kryptex Miner
- Kucoin
- KYC Chain
- Lancium
- Lbank
- Ledger
- Liquid Stack
- LMAX
- Localcoin
- Luno
- Luxor Mining
- Marathon Digital Holdings
- Mastercard
- Matrixport
- Mawson
- Mawson Infrastructure Group
- Merkle Science
- Merkle Standard
- Messari
- Metaco
- Metaps
- MEXC
- MicroBT
- Microstrategy
- MinerStat
- MoonPay
- Nansen
- Nasdaq
- Nash
- nChain
- NEA
- Near Protocol
- Nexo
- NiceHash
- Northern Data
- Notabene
- Now Payments
- Nuvei
- Nvidia
- Nydig
- OKX
- Opencart
- Openledger
- OpenSea
- Openware
- Osprey Funds
- P2P Validator
- Pantera
- Parafi Capital
- Paxos
- PayBito
- PayPal
- Payward (Kraken)
- Pionex
- Plus500
- Plutus
- Polychain Capital
- PoolIn
- Prime Trust
- PrimeBlock
- Revolut
- Ribbit Capital
- Riot Blockchain
- Ripple Labs
- Robinhood
- RockitCoin
- Routefirs
- Roxe
- SafePal
- Samsung
- Sardine
- SBI Holdings
- Scorechain
- Seba Bank
- Securitize
- Segwit
- Sequoia
- Shopify
- Siam Commercial Bank
- Silicon Valley Bank
- Silvergate
- SimpleMining OS
- Simplex
- Skalex
- Skew
- Soft-FX
- Solidius Labs
- Soluna
- SpectroCoin
- SpicePay
- Stake Fish
- Staked
- Stakewise
- Staking Rewards
- State of the dApps
- State Street
- Stripe
- Stronghold Digital Mining
- StrongU
- Sumsub
- Sunlune
- Swissquote
- Taurus
- TaxBit
- Terawulf
- Tesla
- Tether
- The Block
- The Daily HODL
- Three Arrows Capital
- Tiger Global
- TradeStation
- TradingView
- Trezor
- TRM
- tZero
- University of Cambridge
- UpBit
- US Bitcoin Corp
- Utrust
- Vauld
- Velmie
- Victory Park Capital
- Visa
- Voyager Digital
- Webull
- WhatToMine
- Whinstone
- Winklevoss Capital
- Wirex
- Wix
- WonderFi
- Woo Commerce
- Worldline
- Wyre
- XTB
- Youhodler
- Ziglu
- Zodia
