Report: Blockchain Could Become an $8 Billion Global Industry By 2024
The next eight years could see the blockchain marketplace grow to almost $8bn in value, according to a new research report. The report, prepared by Grand View Research, points to a combination of industry investments, enterprise interest in blockchain solutions and growing use of digital currencies among consumers as the lead driver of expected growth. Overall, the market could be as valuable as $7.74bn by 2024, the firm estimated. As for where geographically that growth is anticipated to take place, Grand View suggests that most is going to emerge from financial sectors in the both the....
Related News
Crypto investors and platforms are facing a growing threat as the value of crypto hacks has nearly doubled in the first seven months of 2024, reaching a staggering $1.6 billion, according to a new report from blockchain analytics firm Chainalysis. Crypto Theft Skyrockets In 2024 While the monetary value of stolen funds has skyrocketed, the […]
The worldwide blockchain technology market is forecast to reach $7.74 billion by 2024, with the financial services sector accounting for the majority of the future market growth, predicts a new report. “Blockchain technology is one of the most promising upcoming technological trends in the information technology domain,” according to Grand View Research, a San Francisco-based market research and forecasting company which authored the report. The report predicts continued growth in the U.S. and Canadian markets (40.9 percent of the market). Meanwhile, China and India will see a compound....
According to the latest report from blockchain security firm Immunefi, the cryptocurrency sector will face persistent challenges with hacks and scams in 2024. The report highlights that although exploit losses have decreased monthly, the industry has seen more than $1.4 billion lost to 179 hacks and scams this year. In October alone, losses amounted to […]
According to a report published today by blockchain security firm Hacken, decentralized finance (DeFi) protocols witnessed a steep decline in exploits in 2024, while centralized finance (CeFi) platforms more than doubled their losses due to security breaches. DeFi Platforms Show Better Security Mechanisms In its annual “Web3 Security Report,” Hacken outlined the general trends in the cryptocurrency industry with regard to scams and security infrastructure. The report notes that total losses arising from security failure in 2024 stood at $2.91 billion. Related Reading: WazirX Exchange....
In a recent research report from JPMorgan, the financial firm has predicted a harsh drop for one Bitcoin metric, forecasting a potential decline of the Bitcoin Network Hash Rate by 20% leading up to the Bitcoin halving in April 2024. JPMorgan Expects Bitcoin Hash Rate To Drop In the report, JPMorgan stated that the Bitcoin mining industry is at a crucible stage leading all the way to the Bitcoin halving in April 2024 and beyond. This is because the approval of a Spot BTC exchange-traded fund (ETF) could spark a rally against the backdrop of record hash rates and the impending block reward....