As the cryptocurrency sector is relatively fresh, there is a way for cryptocurrency startups to tap into market markets in which there exists a high demand. An excellent niche is a financial market. While cryptocurrencies have already started to replace a few aspects of the conventional banking program, many people still make use of fiat cash to transact and exchange. A crypto startup company can take good thing about this lack of regulation to the market with lower barriers to entry and larger growth rates.
The Dydx cryptocurrency exchange is a single case. It permits traders to get and sell cryptocurrency in an international market. They have already highly processed more trades than Coinbase, the most popular cryptocurrency exchange inside the U. Nasiums. As of the final of 2017, Dydx acquired processed much more than $18 billion dollars in deals. The cryptocurrency exchange is on target to pull in $75 mil in earnings this year which is on track going to $125 million by the end of this year, in respect to their executives. Furthermore to generating revenue, Dydx is definitely projected to make $81 million in net profit with regards to 2019.
When Coinbase is the leading cryptocurrency exchange in the world, there is continue to a great deal of bedroom for new entrants. While Coinbase processes $15 billion in transactions daily, rival exchange Binance processes $90 billion in transactions daily. this link Furthermore to Coinbase, other startups are looking at the future of crypto.