Cryptocurrency Growth Factors that Matter

Cryptocurrency Growth Factors that Matter

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Cryptocurrency is increasingly gaining popularity. The blockchain concept is relatively new and the future holds endless opportunities. As of now, Bitcoin has the largest market share, followed by Ethereum. Altcoins’ market share has increased from 3% in 2015 to 6% in 2017. But there are some hurdles on the way that are hindering the growth of blockchain. The major issues are transaction costs, cross-chain transfers, scalability, and speed.

The rise in the number of cryptocurrencies and their market cap will also lead to increased need and demand for cross-chain transfers. There are a few key factors on which the growth of cryptocurrencies depends. These are discussed in brief as follows:

 

  • Investors’ perception

 

Blockchain advantages are changing the way people look at cryptocurrency. More investors are now becoming aware of the benefits of using cryptocurrency. Earlier, it was thought of as an unsafe and insecure option. However, now they have realized that cryptocurrency is, in fact, safer, more secure, and easier to use. It is likely that investors will considerably increase the investment in the cryptocurrency market.

 

  • Increasing entrants into cryptocurrency

 

Hedge funds being invested into cryptocurrency are increasing over the time. At present, the number of hedge funds investing in blockchain has grown to 50. It is a good indicator of the growth of the cryptocurrency market. Thanks to the blockchain advantages that make it a safe and secure alternative.

 

  • ICOs popularity

 

The most important reason behind the growth of the cryptocurrencies is the popularity of ICOs. ICOs are used as means to raise funds. Over $5.6 billion was raised by the startups in 2017 alone through the ICOs.

 

  • Acceptance of cryptocurrency

 

People are increasingly becoming familiar with the concept of cryptocurrency. It doesn’t seem something too complicated anymore. Businesses are also adopting cryptocurrencies and in the near future, the cryptocurrency is expected to surge beyond the expectations.

QuickX is an innovative and decentralized platform that, through off-chain technology and pooling facilitators, solves all the major challenges that blockchain is experiencing at the moment. This makes it a must-have for any person who holds crypto assets or interacts with them in some way. The current total addressable market (TAM) of QuickX is worth $ 735 billion, which is almost as much as the total market cap of all cryptocurrencies.

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