Bitcoin leads the ways as the markets turn green; BTC is currently trading above $12900 at the time of writing. A total investment of $396 billion has been pumped into the markets. In the last 24hrs, a total of $105.49 billion has circulated the cryptocurrency markets. Bitcoin has a market cap of $241 billion and remains to be the dominant crypto asset.
Bitcoin After Halving Event
It is now five months after the BTC halving event. The number of crypto assets has an incredible performance since the May event. Bitcoin prices have been above $10000 over the last three months. BTC markets are currently on a bull run trend as traders and pundits remain bullish. Experienced traders like Teeka Tiwari are optimistic about BTC and have hinted at a possible $100000 price tag on Bitcoin. The markets have seen huge trades in recent months; Square’s $50 million investment early this month is a good example of this investment.
Crypto Markets Insights
QY Reports has recently published a comprehensive market insist on the global cryptocurrency market. The “Cryptocurrency Market 2020- 2027” report highlights and provides qualitative insight into important factors affecting the global cryptocurrency market’s growth during the forecast period.
This report focuses on defining the general market concerning sales behavior, price structure, shares, and market size. QY Reports used primary and secondary research as a key tool of study. This report answers the following questions:
- Who are the key sellers in the Global Cryptocurrency Market?
- What are the key factors driving the Global Cryptocurrency Market?
- What will be the market size and growth rate in the forecast year?
- What are the trending factors influencing the market shares?
Research and forecast the market size of the Global Cryptocurrency Market.
- Define, describe, and forecast markets by type, end-use, and region.
- Analyze market potential and benefits, opportunities and challenges, limitations and risks in global core regions
- Identify key trends and drivers that drive or stop Global Cryptocurrency Market growth.
Top Performing Sectors
The cryptocurrency market is segmented into several sectors. Blockchain protocols offer solutions to different industries. The most defined sector in the market includes Payment solutions, gaming, Finance, Trading & investments, etc. These are the sectors with an incredible performance in 2020:
Payment solutions are the most performing sector in the cryptocurrency markets. There are around 352 digital assets in this category. Bitcoin is leading other blockchains in the $24.3 billion industry. Focusing on the 24hrs volume, this sector records over $200 billion in daily transactions. Top performing cryptocurrencies include:
Scalable blockchain markets have a $1.4 billion investment recording of $10 billion in daily transactions. 28 blockchains are offering scalable solutions and XRP is at the peak of this sector. Other performing markets in this sector include:
Blockchains in this category offer banking solutions. Some are allowing users to borrow and lend. There are around 275 blockchains in this sector. Finance blockchains have a combined market cap of around $1.3 billion, recording a 24hrs transaction vol of $33.8 billion. Top performers in this sector include:
Insight Chain (INB)
We have seen big moves in this sector. Chain Link has recorded incredible price moves in 2020, booking an all-time high price of $19.13, LINK as $4.2 billion. There are nine blockchains offing off-chain solutions: top performers in this sector include:
Fusion (FSN) and
Raiden Network (RDN)
There are 127 digital assets in this category. BNB is leading this sector with a 4.8 billion dollars market cap and a total supply of 155.5 million BNB. Monetization sectors as a total investment of 611. 4 million dollars, booking a 24hr volume of $6.8 billion. It is important to note that a cryptocurrency might offer solutions in different sectors.