Global crypto revenue to hit $1.1 trillion by 2030 amid increased crypto adoption: report
The global crypto revenue is projected to reach $1.1 trillion in the next seven years, according to a new report on the industry’s growth.
In its recently published report dubbed “Thematic Intelligence: Cryptocurrencies,” GlobalData, key trends likely to impact the growth of crypto over the next few years will be macroeconomic trends and crypto regulation.
Amid the bear market of 2022, the global cryptocurrency profit fell to about $33 billion, with the major implosions of Terra and FTX catalysing the crypto winter. However, while headwinds around the highlighted trends remain, GlobalData estimates the overall growth trajectory for the asset class will see total revenue surpass the $1 trillion mark by 2030.
Crypto casinos on the rise, spurred by clear regulations
GlobalData says the regulatory environment that continues to evolve, with several jurisdictions shifting the narrative towards more crypto-friendly laws, is going to be key to this outlook.
The EU’s Markets in Crypto-Assets (MiCA) bill offers the most comprehensive framework. The UK is seeking to establish itself as a crypto hub and just passed the Financial Services Markets Bill (FSMB), which could become law by early next year.
Specifically, adoption of crypto is expected to benefit from more clarity favouring cryptocurrency businesses. The streamlining of gambling regulation across the globe is also encouraging people to venture into the online casino world. Access to foreign casinos that operate with licences from some of the world’s most reputable regulatory regimes is seeing a significant bump. And the impact of this scenario is the increased adoption of more payment methods, with cryptocurrency use on the rise as people begin to tap into its benefits.
While GlobalData predicts the metaverse will be a $627 billion market by 2030, estimates for the online gambling market size forecast a compound annual growth rate (CAGR) of 11.7% from 2023 to 2030.
Driving this, the report notes, will be an increase in market share for sports betting and casino platforms, sections of the market currently seeing an influx of capital as the use of cryptocurrencies increase.
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