Crypto ATM Market To Reach $472-mln by 2027; Uruguay Summons Binance Over Product Offerings – Outlook India
The global cryptocurrency ATM market is expected to grow by 59 percent over the next five years to more than $472 million, although the unpredictable regulatory environment remains a key hurdle
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The cryptocurrency ATM market is anticipated to reach US$400 million in less than five years. The current projected value of the global cryptocurrency ATM market is US$46.45 million.
By 2027, it is expected to reach $472.18 million, representing a 59 percent rise based on the compound annual growth rate.
The regulatory framework is another major aspect that frequently impedes the development of the cryptocurrency market. Unpredictable regulatory environments, a lack of knowledge of cryptocurrencies and their uses, and a lack of technical expertise have had a highly negative impact on the crypto space.
In other news, the Central Bank of Uruguay has summoned Binance, one of the largest crypto exchanges in the world, concerning the crypto-based savings products they are offering in the country. These products, according to the bank, can only be offered through banking institutions or by fintech companies that issue equity in the national stock market. Uruguay still has no cryptocurrency-specific regulation.
The Central Bank of Uruguay said in a statement: "The call to the general public for the application of their savings can only be done through financial intermediation institutions authorized to collect deposits in the market or as an issuer registered in the stock market registry."
The global crypto market capitalisation went down by 3.16 per cent to $1.07 trillion as of 4:50 pm. The global crypto volume was down by 2.7 per cent to $72.67 billion, according to Coinmarketcap data. Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $23,088, lower by 3.03 per cent in the last 24 hours. Ethereum (ETH) was down by 1.17 per cent to $1,654.69.
Among other significant coins, Cardano (ADA) was down by 3.91 per cent at $0.5109, Algorand (ALGO) was trading with a loss of 3.93 per cent at $0.3365, Solana (SOL) was trading with a loss of 5.77 per cent at $41.89, Polkadot (DOT) rose 1.47 per cent at $8.45 and Binance Coin (BNB) was down by 2.75 per cent at $284.73.
Today’s top gainer was Filecoin (FIL), which was up by 12.62 per cent at $9.43. The top loser was Bitcoin Gold (BTG), which was down by 11.56 per cent at $29.30.
Dogecoin (DOGE) was down by 3.56 per cent at $0.06807. Rival Shiba Inu (SHIB) rose 1.38 per cent at $0.00001188.
Dogelon Mars (ELON) was down by 3.93 per cent to trade at $0.0000003486, Floki Inu (FLOKI) rose 3.88 per cent at $0.00001501, and Samoyed Coin (SAMO) rose 2.29per cent at $0.01222.
In the DeFi segment, YFI (yearn.finance) was down by 6.78 per cent at $11,197.65. Terra Classic (LUNC) was trading with a gain of 8.10 per cent at $0.00001057, Avalanche (AVAX) was down by 6.18 per cent at $23.33, Uniswap (UNI) was trading with a loss of 9.31 per cent at $8.18, and Aave (AAVE) rose by 9.83 per cent at $96.24.
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August 3, 2022 at 11:38PM