Crypto Economy Here To Stay: Report
A new report says that the crypto economy is here to stay despite the recent crypto market disruptions. The report also said crypto is still at the beginning of the adoption curve.
In a report by Bitget, it was revealed that crypto economy is here to stay despite the recent crypto market disruptions. The 'What Does the Future Hold for Crypto Exchanges' report explores the competitive landscape of crypto exchanges and delves into trends in crypto trading markets.
The report suggests that 0.3 per cent of individual wealth is held in crypto assets value-wise, while 25 per cent of it is held in equities. Also, the report says that crypto users could reach one billion by 2030 as adoption is currently at the beginning of the adoption curve.
“Crypto exchanges are key to enable the Web3 ecosystem by providing liquidity. In some cases, centralised exchanges can also take on the responsibility of providing infrastructure for crypto custody via exchange custodial wallets”, said the report.
According to the report, emerging markets and advanced APAC countries accounted for 1/3rd of global spot trading volumes and around 40 per cent of global derivative trading volumes in 2021.
Another interesting insight shared by the report is that crypto penetration in some emerging markets is higher than in developed countries. “For example, crypto penetration in Nigeria is over 40 per cent, even higher than traditional banking penetration in the country”, said the report.
“According to the findings of the report, crypto trading volume still has large headroom to grow, while LATAM and APAC remain the two most attractive regions for global players to expand into, due to higher market potential and progressive crypto regulations. This is the same view echoing our developing strategy, as these two regions are among those of our primary focus. Meanwhile, we will continue to enhance our products with creativity and innovation, boost adoption of crypto trading and social trading, with the vision to increase financial independence for the rest of the world", said Managing Director of Bitget, Gracy Chen.
