The Global Cryptocurrency Market Continues to Grow


According to data compiled by Bekryl, the global cryptocurrency market is projected to grow at a CAGR of 43.7%. The market is being propelled by the backend technology of blockchain which allows for safe and secure transactions. The technology behind cryptocurrency is still continually evolving. Most cryptocurrencies are backed by two mechanisms; the first publishes every transaction in a public database and the second protects the ledger cryptographically. Notably, bitcoin has become one of the most common digital coins after its prominent rise last year.

The coin was one of the first decentralized alternate currencies offered to consumers. The cryptocurrency market is being heavily driven by new emerging solutions used in different markets such as healthcare, retail, IT services, media and logistics. Netcoins Holdings Inc. (OTC: GARLF), Intel Corporation (NASDAQ: INTC), TD Ameritrade Holding Corporation (NASDAQ: AMTD), Nokia Corporation (NYSE: NOK), Ideanomics, Inc. (NASDAQ: SSC)

Despite the prominence of cryptocurrencies, it has received backlash from official regulators because it is not a form of a recognized currency. Nevertheless, many financial institutions and firms are still using and recognizing cryptocurrencies because of its technology.

“Legislative changes regarding financial products are bringing in more transparency and legitimacy to the crypto-trading space,” said Hayato Terai, Co-Chief Executive Officer of G8C token-issuing GanaEight Coin Ltd., a Ganapati Group company, according to a Forbes article.

“The ICO space will soon undergo similar changes as well. With better regulations and security mechanisms such as tokenized securities and stablecoins already being introduced, we should expect more interest and participation from institutional investors.”

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