- Bitcoin is expected to grow its trading volume by 50 percent in 2019.
- Bitcoin retains the highest percentage of the global trading volume of all cryptocurrencies.
- Tether and Ethreum follow behind in global trading volume.
Cryptocurrency trading volume is about to grow significantly over the next few years. This is according to a study called Crypto Asset Market Coverage Initiation: Trading & Custody.
Trading volume is expected to grow by half this year and then maintain a Compound Annual Growth Rate (CAGR) of 9 percent for the next 10 years.
Besides the increase in trading volume, the study also predicts that cryptocurrency trading volume will overtake US corporate Debt trading volume this year and will eventually make up 10 percent of US Equity Trading Volume.
Bitcoin’s and Co.
Bitcoin has long been seen as the most dominant cryptocurrency with many referring to the crypto market as Bitcoin and everyone else (or altcoin).
Its status has been confirmed by this paper which states that Bitcoin acts as the base pair for over a third of the global trading volume. Bitcoin also holds 52 percent of the global cryptocurrency market capitalization.
The second most powerful currency appears to be Tether which enjoys 22 percent of the global trading volume followed by Ethereum which enjoys 12 percent.
Despite the number of cryptocurrencies in the market increased weekly, Bitcoin has maintained its lead in the market which it has held since the early 2010s.
There had been a bit of worry after Bitcoin suffered a significant decline after its peak in December 2018 but it seems those fears are unnecessary and Bitcoin’s future is stable.
Bitcoin maintaining dominance in the market comes as no surprise as it has enjoyed the most visibility out of every cryptocurrency and is the most talked about in mainstream media. Even most people who know little about cryptocurrency probably have heard the name Bitcoin before.
A Growing Market
For a good amount of time, skeptics of cryptocurrency have looked at the market as an unstable fad of the internet that would die out soon enough.
With its increased acceptance in mainstream business and its increased use all around the world, cryptocurrency continues to prove the critics wrong and this new study goes to show that rather than die out, it will only get bigger on the world stage.