As the cryptocurrency market is relatively new, there is the possibility for cryptocurrency startups to tap into niche markets where there exists a high demand. One niche may be the financial industry. While cryptocurrencies have already begun to replace some aspects of the regular banking program, many persons still apply fiat money to transact and exchange. A crypto startup can take good thing about this lack of regulation to enter the market with lower obstacles to connection and bigger growth costs.
The Dydx cryptocurrency exchange is a single case. It enables traders to acquire and sell cryptocurrency in an foreign market. They have already highly processed more orders than Coinbase, the most popular cryptocurrency exchange in the U. S. As of the bottom of 2017, Dydx experienced processed a lot more than $18 billion in financial transactions. The cryptocurrency exchange is on target to pull in $75 million in earnings this year and is on track to kick $125 mil by the end on the year, in respect to the executives. Additionally to generating revenue, Dydx is usually projected to make $81 mil in net profit with respect to 2019.
Whilst Coinbase is the leading cryptocurrency exchange on the globe, there is still a great deal of area for new entrants. While Coinbase processes $15 billion in transactions daily, rival www.technoprobiz.com/industry-transformation-process-step-by-step-check-list/ exchange Binance processes $90 billion in transactions daily. Additionally to Coinbase, other online companies are looking at the continuing future of crypto.