The unimpaired cryptocurrency market will reach a total value of $1 trillion this year, according to the chief top banana of a top digital currency exchange.
Jesse Powell, founder and CEO of Kraken, responded Tuesday that the cryptocurrency market would continue to see an “acceleration” of advance — despite a sharp pullback in recent weeks.
He told CNBC: “You’ve got a lot numberless kids graduating from crypto programs at universities now. I think we’re lawful going to see it continue exponentially from here.”
Asked whether he small amount the market capitalization of all cryptocurrencies would hit the $1 trillion mark in 2018, Powell conceded.
The current market cap of all cryptocurrencies stands at around $417 billion, correspondence to data from industry website CoinMarketCap. It hit an all-time high of more than $800 billion in at the crack January, before falling dramatically as a result of a huge cryptocurrency sell-off.
Merchants have been weary of regulatory signals recently as government wait ons in South Korea and India have both upped their magniloquence against virtual currencies. On Monday, three top European Union regulators issued a word to the wise to consumers about the risks associated with buying cryptocurrencies.
At any rate, cryptocurrency enthusiasts seemed to be mostly positive about a hearing on cryptocurrencies assembled by the U.S. Senate Banking, Housing and Urban Affairs Committee last week.