USA is known as the biggest crypto market. It is predicted that in 2021, it was 1.6 billion USD and in 2026 it will be 2.2 billion, at the CAGR of 7.1%.
Major reasons for the growth of crypto market:
Distribute ledger technology and growth in venture capital is the major reasons for increasing the growth of the market.
The evolving adoption of crypto currencies in the US is predicted the favor of improving crypto market.
Factors that support crypto market growth :
The formation of various hardware and software companies i.e
• Bitmain Technologies ( China )
• NVIDIA Corporation (US)
• Xilinx (US)
• Intel Corporation (US)
• Advanced Micro Devices (US)
• BitGo (US)
• BitFury Group (US)
• Coin base (UK)
• Ltd (US)
• Ripple labs Inc (US)
Largest size of cryptocurrency market 2021 is hold by Hardware:
The huge system desires for the high computing power to encrypt the transactions, it includes the formation of hash codes. To generate hash codes, the miner wants high efficient hardware. Mining rigs are available in different sizes and shapes. The hardware for the crypto market has been segmented, of the base of processor into CPUs, ASICs and FPGAs.
Largest share of crypto market hold by mining process:
Mining is the main process of the generation, transmission and validation in cryptocurrency. It certifies safe, secure and stable formation of the currency, wherever the centralized authority regulates the transactions.
Highest CAGR for the growth of APAC in the forecast period:
This market in APAC has been studied for Japan, China, and South Korea.
Top crypto currencies by market:
Bitcoin (BTC)
Market cap: over $1.08 trillion
Bitcoin is the original cryptocurrency. The market capitalization of the world’s top digital currency is above $125 billion. The price of one coin is above $7,305. There are roughly 17.1 million bitcoins are in circulation. Five years ago the price of the Bitcoin was $500 and now in 2021 it is almost $57000. The growth value is 11,400%.Ethereum (ETH):
Market cap: over $557 billion
It has many potential applications I.e small contracts that automatically formulate when circumstances are non fungible tokens.
Ethereal has tremendous growth. In last five years the price improved from $ 11 to $ 4,700. The growth value is almost 42,000%. It is smaller than bitcoin. There are just over 100.7 million ethereum in circulation.Binance Coin (BNB):
Market cap: over $104 billion
In the largest crypto exchanges in the world the Finance is used in trading and pay fees. It was launched in 2017. It can also be exchanged in other forms pf cryptocurrency I.e Bit coin and Ethereum.
In 2017 it was $0.10 and now it is $628. The growth value is almost 627000%.Tether (USDT):
Market cap over $73 billion
Its value is consistent than other crypto currencies. It is favored by the investors.Solana (SOL):
Market cap: over $64 billion
DeFi, DApps and small contracts uses solana. Its native token, powers the platform.
It was launched in 2020, its price was $0.77, and now it is $213.42. the growth value is almost
26,500%.Cardano (ADA):
Market cap: over $52 billion
It is for proof -of-stake validation. This method involves expedited transaction time and minimizes usage of energy and impact of environment by eliminating competitive, problem-solving aspects of the verification of different transactions. It has a relatively modest growth as compare to other crypto coins.
In 2017, its price was $0.02 and now its price is $1.57. The growth value is almost 7,850%.
XRP (XRP):
Market cap: over $47 billion
It is created by the company named as Ripple, a payment processing company and with high digital technology. It is used to exchange different currency types.
In 2017, its price was $0.006 and now it is $ 1.00. The growth value is almost 16,666%.US dollar Coin (USDC):
Market cap: over $38 billion
It is a stable coin. Means it is backed in U.S dollars. It is powered by ethereum. It is used to complete global transactions.