A new joint report between Boston Consulting Group, Bitget and Foresight Ventures states that the total number of crypto users worldwide will reach 1 billion by 2030.
As per the report, “What does the future hold for Crypto Exchanges”, it is estimated that about 0.3 percent of individual wealth is currently held in crypto assets, compared to 25 percent in equities. As such going by the current adoption trends, the total number of crypto users is likely to reach 1 billion by 2030.
In addition while institutional interest in crypto assets is growing, individual investors are currently the biggest holders of crypto. Hedge funds and venture capital firms are most willing to invest the report adds.
Southern Asia accounts for about two to three percent of global crypto trading value. India, Thailand, Vietnam are the largest markets.
The report also noted that the global crypto spot trading volume grew three fold in past two years to $3.2 trillion by first quarter of 2022, while crypto derivatives trading expanded 12 fold to $6.3 trillion in same timeframe.
There are also now 10,000 Web3 applications utilising blockchain technology from just 800 in 2017.
In terms of Africa, crypto centralised exchanges’ trading accounts for less than one percent of global spot and derivatives trading, while Middle East accounted for four percent. Africa is seeing growth in South Africa and Nigeria, while Turkey takes the lead in Middle East followed by Saudi Arabia and the UAE.
Binance dominates the markets in Turkey and UAE in spots and derivative trading, while regional crypto exchanges such as BitOasis, Rain, and CoinMENA have limited crypto asset coverage and focus solely on spot trading.
