Market For Crypto Wallets Expected To Increase By $686 Million By 2026
Market for crypto wallets expected to increase by $686 million by 2026
The need for cryptocurrency has increased in recent years, and as more individuals start utilizing digital assets, the market for cryptocurrency wallets is also anticipated to develop.
Investors are more keen than ever to keep their money in a cryptocurrency wallet since lending companies and cryptocurrency brokers like Three Arrows Capital, Voyager Digital, and Celsius have either collapsed or suspended withdrawals.
Interestingly, a recent study named “Global Crypto Wallet Market 2022-2026” has found that the market for crypto wallets is expected to increase by $686.05 million from 2022 to 2026, growing at a compound annual growth rate (CAGR) of 24.19% throughout the projected period.
“The increasing availability of crypto wallets is one of the prime reasons driving the crypto wallet market growth during the next few years,” the study said.
The report also covers how users of crypto wallets may send and receive various cryptocurrencies as well as how significant demand for wallets will be generated by technology advancements and improvements in the cryptocurrency space.
SK Telecom, a major player in the technology industry in South Korea, revealed on July 11 that it would introduce a cryptocurrency wallet with the ability to store a variety of digital assets, including cryptocurrencies, NFTs, and other tokens based on blockchain technology that could be used for identity verification.
Given the expansion of the metaverse, there have been rumors that Meta will use Novi’s resources to create a digital wallet for the metaverse as those resources might still be used to create Meta’s metaverse initiatives.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Market For Crypto Wallets Expected To Increase By $686 Million By 2026
Market for crypto wallets expected to increase by $686 million by 2026
The need for cryptocurrency has increased in recent years, and as more individuals start utilizing digital assets, the market for cryptocurrency wallets is also anticipated to develop.
Investors are more keen than ever to keep their money in a cryptocurrency wallet since lending companies and cryptocurrency brokers like Three Arrows Capital, Voyager Digital, and Celsius have either collapsed or suspended withdrawals.
Interestingly, a recent study named “Global Crypto Wallet Market 2022-2026” has found that the market for crypto wallets is expected to increase by $686.05 million from 2022 to 2026, growing at a compound annual growth rate (CAGR) of 24.19% throughout the projected period.
“The increasing availability of crypto wallets is one of the prime reasons driving the crypto wallet market growth during the next few years,” the study said.
The report also covers how users of crypto wallets may send and receive various cryptocurrencies as well as how significant demand for wallets will be generated by technology advancements and improvements in the cryptocurrency space.
SK Telecom, a major player in the technology industry in South Korea, revealed on July 11 that it would introduce a cryptocurrency wallet with the ability to store a variety of digital assets, including cryptocurrencies, NFTs, and other tokens based on blockchain technology that could be used for identity verification.
Given the expansion of the metaverse, there have been rumors that Meta will use Novi’s resources to create a digital wallet for the metaverse as those resources might still be used to create Meta’s metaverse initiatives.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
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