Chainlink [LINK] can aim for near-term recovery with these metrics
Kusama traders can apply change in polarity principle at this level
Dogecoin: Is ‘the longer, the better’ strategy profitable for traders
Short-term scenario of the cryptocurrency market remains bleak: Reports
Is Uniswap [UNI]’s new NFT component enough to drive it out of bear claws?
Bitcoin [BTC] manages to float above $20K despite recent liquidations and heavy outflows
Can Bitcoin [BTC]’s movement above realized price fizzle out based on market sentiment?
Will Bitcoin [BTC] rise above its $23,000 level over weekend
For Bitcoin [BTC] traders, next resistance level could be at…
Bitcoin: Everything latest you need to know before taking long position
Ethereum: Are investors preparing for ETH 2.0 as exchange balances hit four-year lows?
This is why Ethereum 2.0 stands to be the greatest HODL incentive for ETH investors
From ETH’s Merge to ‘surge, verge, purge, splurge’- Making sense of it all
ETH derivative traders take neutral stance amid recovery- Here’s why
Shoutout to Ethereum LTH, target for 2030 could be $15…
Published
on
By
The crypto market incurred one of the worst quarter performances over Q2 of 2022. All major cryptocurrencies fell hard during this period. Bitcoin [BTC] and Ethereum [ETH] headlined the steep decline of the state of the crypto market. The fall in asset prices has also resulted in a change in wealth distribution patterns across investors.
The Boston Consulting Group released a report on the future of crypto exchanges with Bitget and Foresight Ventures. The report attempts to capture the various aspects of crypto trading across the crypto market. Increasing crypto adoption and macro trends have led to a sharp rise in global crypto trading volume.
As per the report, the global centralized exchange volume reached $54 trillion in 2021. Historically speaking, spot trading volume strongly correlates with overall crypto market cap and volatility. The massive increase in volume is further reflects the growing interest in crypto assets. According to Goldman Sachs, cryptocurrencies currently account for roughly 20% of the global “store of value” market. With the emergence of institutional investors, there is a growing demand for hedging and generating yields. The report expects organized players to enter centralized options to support the growing demand. FTX’s acquisition of LedgerX is a signal for the growing trend.
Some regions have posted tremendous numbers for crypto trading in recent times. The Middle East is one lucrative region bolstering crypto growth. The region accounts for 4% of global spot and derivatives trading value in 2021. Israel remains an attractive platform with its “mature financial market”. The report also highlights Turkey, UAE, and Saudi Arabia for their contribution to crypto trading in the region.
Moving over to Southern Asia, the region accounts for about 2-3 % of global crypto trading. India, Thailand, and Vietnam remain the largest contributors in terms of trading value. India represents the highest growth potential in the region with a high number of retail traders. It is expected that growth will boost in the region with increasing regulation clarity.
Problems exist in the current crypto economy and will continue to plague development if left unchecked. Coupled with the intensifying macro conditions, the short-term crypto scenario remains bleak right now. However, the report ends on a positive note as senior members of BSG remain optimistic about the crypto industry.
“Despite the recent market disruption, we believe the market has opportunities for growth ahead. With competition intensifying, crypto exchanges must adapt to the dynamic market situation and transform their strategy to beat the competition.” – Tjun Tang, Managing Director & Senior Partner, BSG.
Dogecoin: Is ‘the longer, the better’ strategy profitable for traders
Is Uniswap [UNI]’s new NFT component enough to drive it out of bear claws?
Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.
Crypto winter update: Will the disaster of Q2 continue to cripple Q3 of 2022?
Ethereum: Are investors preparing for ETH 2.0 as exchange balances hit four-year lows?
Bitcoin [BTC] manages to float above $20K despite recent liquidations and heavy outflows
Can Bitcoin [BTC]’s movement above realized price fizzle out based on market sentiment?
This is why Ethereum 2.0 stands to be the greatest HODL incentive for ETH investors
FLOW rides on a strong bullish wave as the alt attempts recovery to May support levels
Your email address will not be published.
document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
