Cryptocurrency Trading Volume to Grow 50% in 2019, New Study Says
A new study on cryptocurrency trading and custody trends holds that digital currency trading is going to grow by 50 percent in 2019 while overtaking the US Corporate Debt trading volume in 2018.
A study called Crypto Asset Market Coverage Initiation: Trading & Custody reveals that cryptocurrency trading volume is about to grow further.
The research shows that digital currency trading volume will overtake the US Corporate Debt trading in 2018. It’s also on track to comprise about 10 percent of US Equity trading volume. The paper also indicates that the overall trading volume is going to grow by 50 percent in 2019, providing an overall Compound Annual Growth Rate (CAGR) of 9 percent through 2028.
It’s also worth noting that 75 percent of the cryptocurrency market trading volume takes place on the top 20 exchange accounts.
Bitcoin a Key Component
The paper also shows that Bitcoin (BTC) is the de facto reserve currency for all cryptocurrencies, serving as the base pair for roughly one-third of the entire global trading volume.
Tether (USDT) occupies the second place with 22 percent while ETH 00 brings up the rear with 12 percent.
The findings are somewhat expected as Bitcoin is the predominant market leader, accounting for over 52 percent of the entire capitalization of all cryptocurrencies, according to data from CoinMarketCap.
Despite the fact that new altcoins are popping up constantly, Bitcoin’s dominance continues to increase. Interestingly, some suggest that this not only shows its strength but is also a historic sign that price is consolidating.
Bitcoin (BTC) 00 marks a slight increase of about 2 percent in the last week. It’s also trading in the green on the monthly chart, with a 1 percent increase over the past 30 days.
What do you think of the new study on cryptocurrency trading? Don’t hesitate to let us know in the comments below!
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