Report Overview

United States Cryptocurrency Market – Industry Trends & Forecast Report, 2030

United States Cryptocurrency Market size by value was estimated at USD 1.4 billion in 2023. During the forecast period between 2024 and 2030, United States Cryptocurrency Market size is expected to expand at a CAGR of 8% reaching a value of USD 2.3 billion by 2030. United States Cryptocurrency Market is driven by mainstream adoption, institutional investments, technological advancements, and regulatory developments. Increasing consumer awareness and ease of use are boosting adoption, while major financial institutions are investing heavily in cryptocurrencies. Technological innovations and clearer regulatory frameworks are also contributing to market growth.

Cryptocurrency – Overview

Cryptocurrency is a digital or virtual currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which ensures transparency and reduces the risk of fraud. Cryptocurrencies enable peer-to-peer transactions without the need for intermediaries like banks. Popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin. The market is driven by factors such as the potential for high returns, increasing adoption for payments, and innovations in blockchain technology.

United States Cryptocurrency Market

Growth Drivers

Increasing Adoption of Blockchain Technology

United States Cryptocurrency Market is experiencing significant growth driven by the increasing adoption of blockchain technology. As more businesses and financial institutions recognize the benefits of blockchain for secure and transparent transactions, the demand for cryptocurrencies that utilize this technology rises. This trend is fostering innovation and attracting more investors to United States Cryptocurrency Market.

Challenges

High Volatility in Prices

United States Cryptocurrency Market faces a significant restraint due to high volatility in prices. The frequent and unpredictable fluctuations in cryptocurrency values can deter potential investors and businesses from entering the market. The volatility creates financial risk and uncertainty, making it challenging for the market to achieve stable growth.

Impact of Escalating Geopolitical Tensions on United States Cryptocurrency Market

Intensifying geopolitical tensions among countries and further spreading across the major regions could significantly impact United States Cryptocurrency Market. Economic, political, and trade tensions disrupt global supply chains, leading to shortages of essential components for cryptocurrency mining and trading infrastructure. Increased costs of imported materials may raise operational expenses, making it more challenging for businesses to invest in United States Cryptocurrency Market. Additionally, political instability can deter foreign investments and affect consumer confidence, resulting in reduced spending on cryptocurrencies. Trade restrictions and sanctions can further complicate the import of advanced technologies, hindering market growth.

United States Cryptocurrency Market

Segmental Coverage

United States Cryptocurrency Market – By Component

By component, United States Cryptocurrency Market is divided into Hardware and Software segments. Software is a larger component segment in United States Cryptocurrency Market. The segment’s dominance is driven by the growing adoption of cryptocurrency exchanges, wallets, and blockchain-based applications. This segment benefits from increased investment in decentralized finance (DeFi), enhanced security solutions, and the rising popularity of non-fungible tokens (NFTs). The demand for user-friendly software platforms that facilitate trading, storage, and management of cryptocurrencies is a key growth driver. Additionally, software solutions offer scalability and adaptability, which cater to both individual and institutional investors.

United States Cryptocurrency Market – By Type

Based on type, United States Cryptocurrency Market is divided into Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and other segments. Bitcoin is the largest segment in United States Cryptocurrency Market by type, primarily due to its first-mover advantage, widespread recognition, and robust network effects. Bitcoin dominates market capitalization and trading volumes, often viewed as a digital gold standard. Institutional adoption and increasing acceptance as a payment method further solidify its leadership. While Ethereum shows significant growth driven by decentralized applications and smart contracts, Bitcoin's status as the most prominent cryptocurrency remains unchallenged, ensuring its leading position in the market.

United States Cryptocurrency Market – By Process

On the basis of process, United States Cryptocurrency Market is divided into Mining and Transaction segments. The transaction segment emerges as a larger process in United States Cryptocurrency Market, due to the widespread adoption of cryptocurrencies for payments, trading, and remittances, driven by increasing awareness, the growth of blockchain technology, and institutional participation. The mining segment, while significant, faces challenges like regulatory scrutiny and high energy costs, which limit its growth compared to transactions. The transactional use of cryptocurrencies aligns with the market's push for scalability, accessibility, and seamless digital financial services.

United States Cryptocurrency Market – By End User

Based on end user, United States Cryptocurrency Market is divided into Banking, Gaming, Government, Healthcare, Retail & E-commerce, Trading, and other segments. The trading segment holds the largest share of United States Cryptocurrency Market by end user. The segment’s dominance stems from the extensive use of cryptocurrencies for speculative investments and trading activities on exchanges. High volatility and the potential for significant returns attract both institutional and retail investors. Moreover, advancements in trading platforms, increasing acceptance of cryptocurrency derivatives, and regulatory clarity contribute to this segment's leadership. Its prominence underscores the growing mainstream interest in cryptocurrencies as a financial instrument.

Competitive Landscape

Key players in the highly competitive United States Cryptocurrency Market include Advanced Micro Devices, Inc., Coinbase, Inc., Robinhood, Kraken, Intel Corporation, Ripple, Bit Digital, Inc., BitGo, NVIDIA Corporation, and Anchorage Digital. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Component

• Hardware

• Software

By Type

• Bitcoin

• Bitcoin Cash

• Ethereum

• Litecoin

• Ripple

• Others

By Process

• Mining

• Transaction

By End User

• Banking

• Gaming

• Government

• Healthcare

• Retail & E-commerce

• Trading

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. United States Cryptocurrency Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing adoption of blockchain technology
         2. Growing investments by institutional players
         3. Rising inflation and economic uncertainty
      2. Restraints
         1. Regulatory uncertainty
         2. High volatility in prices
         3. Limited adoption in traditional commerce
      3. Opportunities
         1. Growing interest in CBDCs
         2. Integration with traditional financial systems
         3. Increased retail investor participation
      4. Challenges
         1. Increasing security concerns
         2. Consumer awareness and education
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. United States Cryptocurrency Market: Marketing Strategies
5. United States Cryptocurrency Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Component
         1. Hardware
         2. Software
      2. By Type
         1. Bitcoin
         2. Bitcoin Cash
         3. Ethereum
         4. Litecoin
         5. Ripple
         6. Others
      3. By Process
         1. Mining
         2. Transaction
      4. By End User
         1. Banking
         2. Gaming
         3. Government
         4. Healthcare
         5. Retail & E-commerce
         6. Trading
         7. Others
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. United States Cryptocurrency Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operation Channel Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Escalating Geopolitical Tensions on United States Cryptocurrency Market
8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Advanced Micro Devices, Inc.
   2. Coinbase, Inc.
   3. Robinhood
   4. Kraken
   5. Intel Corporation
   6. Ripple
   7. Bit Digital, Inc.
   8. BitGo
   9. NVIDIA Corporation
   10. Anchorage Digital
   11. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents
    5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1       United States Cryptocurrency Market Segmentation         

Figure 2       United States Cryptocurrency Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023                                               

Figure 4       United States Cryptocurrency Market Size, By Value (USD Billion), 2019–2030

Figure 5       United States Cryptocurrency Market Share, By Component, By Value (USD Billion) 2019–2030

Figure 6       United States Cryptocurrency Market Share, By Type, By Value (USD Billion) 2019–2030

Figure 7       United States Cryptocurrency Market Share, By Process, By Value (USD Billion) 2019–2030

Figure 8       United States Cryptocurrency Market Share, By End User, By Value (USD Billion) 2019–2030

List of Tables     

Table 1        United States Cryptocurrency Market Size, By Value (USD Billion), 2019–2030

Table 2        United States Cryptocurrency Market Share, By Component, By Value (USD Billion) 2019–2030

Table 3        United States Cryptocurrency Market Share, By Type, By Value (USD Billion) 2019–2030

Table 4        United States Cryptocurrency Market Share, By Process, By Value (USD Billion) 2019–2030

Table 5        United States Cryptocurrency Market Share, By End User, By Value (USD Billion) 2019–2030

Table 6        Advanced Micro Devices, Inc. Company Overview

Table 7        Advanced Micro Devices, Inc. Financial Overview

Table 8        Coinbase, Inc. Company Overview

Table 9        Coinbase, Inc. Financial Overview

Table 10      Robinhood Company Overview

Table 11      Robinhood Financial Overview

Table 12      Kraken Company Overview

Table 13      Kraken Financial Overview

Table 14      Intel Corporation Company Overview

Table 15      Intel Corporation Financial Overview

Table 16      Ripple Company Overview

Table 17      Ripple Financial Overview

Table 18      Bit Digital, Inc. Company Overview

Table 19      Bit Digital, Inc. Financial Overview

Table 20      BitGo Company Overview

Table 21      BitGo Financial Overview

Table 22      NVIDIA Corporation Company Overview

Table 23      NVIDIA Corporation Financial Overview

Table 24      Anchorage Digital Company Overview

Table 25      Anchorage Digital Financial Overview