A new study on crypto trading and consumer trends has established that cryptocurrency trading will grow by almost 50% in 2019. The study also suggests that crypto trading is going to surpass the US Corporate Debt Trading Volume by the end of 2018.
Further Details of the Study
The study was labelled Crypto Asset Market Coverage Initiation: Trading and Custody. Its key finding is that crypto trading volume is going to swell by 50% in 2019.
The study findings indicate that cryptocurrency trading volume will exceed the US Corporate Debt Trading within the next three months. The crypto trading volume is also on the verge of comprising about 10% of the US Equity Trading Volume.
The study further shows that the whole crypto trading volume will grow by 50% in 2019, presenting a general Compound Annual Growth Rate (CAGR) of 9%through 2028.
The researchers also found out that 75% of the crypto market trading volume is carried out by the top 20 crypto exchange firms.
Bitcoin (BTC) is still the Major Cryptocurrency
The study further indicates that BTC is still the major reserve cryptocurrency, acting as the base pair for almost a third of the whole global crypto trading volume. The second one is Tether (USDT) with 22% while Ethereum (ETH) comes third with roughly 12% of global trading volume.
The Reliability of the Study
The research findings are to a large extent true since BTC is the principal crypto market currency, comprising almost 52% of the whole capitalization of the digital currencies, in line with data from CoinMarketCap.com.
Regardless of the regular invention of altcoins into the crypto space, Bitcoin’s supremacy is increasing daily. Remarkably, some crypto experts strongly believe that this not only depicts its strength but is also a key indicator that its value is ripe for another market surge.
The current BTC price of $6431.61 (25th September 2018) is a slight gain of almost 2% in the last seven days. The coin is also trading in the green on the monthly chart, with a 1% gain for the last one month.