Crypto exchanges have spiked in demand for their trading amenities since 2019, translating to a significant increase in trading volumes. The number of transactions and clients dealing with crypto is as well through the roof. With such a change, where will the crypto market be in the coming years?
Robust growth in the DeFi sector
As the crypto market has been growing, although it has affected other areas, decentralized finance (DeFi) has had a similar market result. In early 2019, $275 million was stored in DeFi. Currently, there is at least $8.9 billion showing how much the sector is blossoming.
Crypto is a technology formed as an alternative to the traditional monetary system. The industry brings forth competition to other sectors as professionals predict that the program will compete with banking and financial institutions. In this, there is only one winner, crypto. Some view this unfair competition as disruptive.
According to Forbes, it is reported that the adoption of cryptocurrency in the US is around 5%. This digit is even though the first crypto, Bitcoin, is only 11 years old. If bitcoin growth follows the pattern of internet growth experienced in the US in the late 1990s to 2000, it is approximated that Bitcoin adoption would be at 20-50% by the year 2030.
As per Messari’s “Real 10” exchanges volume data set, the average trade volume in exchanges as of 2019 was over $227 billion. In 2015, it was estimated at around $1.3 billion, translating to a CAGR of 17.7% annually.
Kraken’s fees schedule approximated average exchange revenues on trade charges at $956 million in 2019. Therefore, as per the adoption rate, it is estimated that it would reach between $1.9 billion to $9.6 billion in 2029.
Challenges arising from growth in the crypto market
As a result, the influx of DeFi in the market has caused the transaction charges on the Ethereum network to reach new heights.
Now, there are more fraud and scam cases of unaware users where they lose lots of funds.
To be part of this growing crypto community, one needs to join an exchange. Currently, there are many exchanges in the market, and one outstanding is Zeabit, an exchange with great potential. It was created to connect the crypto market globally, fill gaps, and correct other exchanges’ challenges. Unfolded Crypto advises that Zeabit is one of the top three exchanges to watch in 2021.
Zeabit supports the trade of Bitcoin and altcoins such as Dashcoin, Monero, Ethereum, and Litecoin.
Some of the features that make Zeabit outstanding include: 24/7 trading, security of funds, universality, and user-friendliness. Safeguard your future by joining Zeabit today.