The global cryptocurrency market is expected to reach $6.7bn by 2025, according to TMR

Various technological applications are responsible for rapid growth in the cryptocurrency market

17Jul

The global cryptocurrency market is predicted to be worth $6.7bn by 2025, according to a report by Transparency Market Research (TMR). The report found that the growth of the market was due to the increase in venture capital investment, the demand for secure and rapid processing of transactions and the benefits of low remittance cost.

The report split the market into two portions: software and hardware. The software market included blockchain, coin wallet, exchange, and mining platforms, while the hardware market was divided into application-specific integrated circuit (ASIC), graphics processing unit (GPU), field-programmable gate array (FPGA) and wallet across six cryptocurrency applications.


Visit Innovation Enterprise's Big Data & Analytics for Banking Summit in New York on December 12–13, 2018.


The report also found that interest in cryptocurrency trading has continued to increase. For example, TMR cited the stock trading app, Robinhood, which announced on July 12, 2018 its decision to expand its crypto offerings and allowed the trading of two new cryptocurrencies: Bitcoin Cash and Litecoin. Robinhood stated: "Since we launched Robinhood Crypto in February, our customers have voiced interest in buying and selling other cryptocurrencies beyond Bitcoin and Ethereum."

The six applications were: AppSwarm Inc. (OTC: SWRM), Black Cactus Global Inc. (OTC: BLGI), GD Entertainment & Technology Inc (OTC: GDET), MGT Capital Investments Inc. (OTC: MGTI) and HashChain Technology Inc. (OTC: HSSHF).

4 types of innovation

Read next:

Why it is important to understand the four types of innovation

i