Top exchange CEO — Virtual currencies market will be worth $1 trillion this year
The crypto market will continue to see an “acceleration” of growth, founder and CEO of the exchange Jesse Powell told CNBC.
“You’ve got a lot more kids graduating from crypto programs at universities now. I think we’re just going to see it continue exponentially from here,” Powell said.
Powell’s Kraken is currently ranked 8th by trading volume on cryptocurrency website CoinMarketCap, trading at around $300 million over a 24-hour period.
The market value of all the world’s virtual currencies currently stands at around $432 billion, according to CoinMarketCap. It managed to reach an all-time high of nearly $800 billion at the beginning of the year before a massive sell-off that dragged digital currencies down. Bitcoin, the world’s first cryptocurrency, lost about two-thirds of its value at the time.
Do you agree? Let us know in the comments section below.
* You will receive the latest news and updates.