Cryptocurrency Market Planned to Grow Even More
The cryptocurrency market is projected to grow even more, according to a press release from Digital Asset Markets.
This group defines Digital Asset Markets as:
“A cryptographically-derived digital instrument available on a public, private or permissioned blockchain or other form of distributed ledger, including without limitation instruments that represent, or facilitate the exchange of or access to, any digital or real-world asset, or any set of rights, protocols, or rules; or (ii) any option, futures contract, swap or other instrument or index, the value of which is derived wholly or principally from the value of underlying instruments meeting the description in clause (i). Digital Assets may be categorized in many different ways and may be subject to varying legal and regulatory regimes depending on their features or the manner in which they are issued or exchanged. This definition is intended to be construed broadly to include all instruments generally meeting the descriptions in clauses (i) and (ii) above.”
It is expected that the industry will expand to over $1 trillion. On top of this, the World Economic Forum predicts over $24 trillion by 2027.
“Probably the most consequential development responsible for driving the adoption of digital assets is that financial and regulatory institutions worldwide are acknowledging the appeal of blockchain technology and an increasing number are at some stage of the design – implementation phase on some level,” the release states.