In the past two weeks the market for bitcoin and other cryptocurrencies have been down over the last two weeks, however the market has been skyrocketing in the past year. Bitcoin struggling to go over $50,000 while other cryptocurrency like Litcoin and Ethereum has increased dramatically
Day trading of Cryptocurrency exchanges has been booming in growing transactions. New Websites and apps have involved themselves into crypto over the last couple of years hoping to earn billions in assets with cryptocurrency.
Currently, the largest world cryptocurrency exchange is Binance, the company is approximately $31 billion in assets trading on its platform. Backstory of Binance, founded in 2017 with headquarters in Malta, built for a safe buy and trading cryptocurrencies. Recent news, the company plant itelf in India, WazirX, for $10 million
Many crypto exchances have billions in trade volume but that is just not enough of Binance’s sovereignty. Including HBTC with $13 billion, DSADAQ with $11 billion, and Hydax with $10 billion.
Now we speculate the industry of cryptocurrency will reach over $1 trillion in future years. With trading being a large fraction of this production, cyrpto miners, blockchain companies, ETFs, and blockchain companies proving a strong legitimate theory of growth in this industry.
Many experts are very certain the crypto is in a blob. With bitcoin overcoming $50,000, some investigate the short-term usefulness of the digital money contrast to fiat money like Euros and the U.S dollar.
Manifesting why cryptocurrency is in a blob could be determine by the distribution of crypto ATMs across the globe. Just like regulars ATMs, cryptocurrency ATMs offer easy transaction with purchase of crypto with a credit/debit card without authorizing a bank with cryptocurrency. With the correct crypto wallet code, ATMs transactions from a purchase will convert into a cryptocurrency wallet.
The market of bitcoin money and number of people obtaining crypto in the U.S and countries like Turkey, Brazil, Canada, etc. ATMs have become a popular trend within these countires. According to data collected by Coin ATM Radar, there are over 12,000 ATMs across the U.S as of March 2021. Proving again the cryptocurrency industry is surging. Second on the list of the highest owners of cryptocurrency is Canada, Third, we move towards the east in Europe with 100 crypto ATMs.
A good confirmation that cryptocurrency industry will be thurst by investors in the U.S while other countries catch up. Big NO for cyprto, since the idea of both is for a global, disperse transaction option easily obtainable to anyone around the globe.
What does this mean? Basiaclly cryptocurrencies will go a long way to prove their worth contrast to fiat currencies for many people.
Majority(U.S) are still conducting cryptocurrency as an investment asset rather than a new paradigm in currency, finding a way for traditionally currencies. Whether cryptocurrency truly is in a blob really bets on if continuing to break through the chains of a high-risk investment for people across the globe.