Cryptocurrency ATM market to reach USD 472 million by 2027

Avatar James Lochner 2 years ago

Research and Markets has published a new report, which estimates a compound annual growth rate of 59% for the industry from 2022 to 2027. Currently, it values the cryptocurrency ATM market at $46.4 million. This value is expected to increase to $472 million over a five-year period.

The global cryptocurrency ATM market is predicted to grow at a rapid pace over the next five years. Since market studies predict that the space will be worth half a trillion dollars by 2027.

The prospects are based on in-depth qualitative analysis and verifiable data that provide projections on the target market. The primary research included interviews, surveys and observations of market participants.

The IMF’s global outlook suggests that black clouds are looming for cryptocurrencies

Investors are warning of increased volatility in the digital asset markets. At the same time, the International Monetary Fund (IMF) forecasts a slowdown in global economic growth.

The IMF’s July update on the Global Economic Outlook, titled “Gloomy and More Uncertain,” points to “higher-than-expected inflation” and a contraction in global output as indicators of the weak economic growth ahead.

The report succinctly states that an economic slowdown is likely:

«Risks to the outlook are overwhelmingly tilted to the downside».

Likewise, the IMF believes that the crypto market could be threatened by great selling pressure.

Harmony proposes to mint 4.97 billion tokens to reimburse victims

The team behind the Harmony blockchain project has proposed the minting of up to 4,970 million of its native ONE token. This, to compensate the victims of the $100 million Horizon Bridge hack in June.

The proposal has been met with a large number of reactions from community members, with many of them highlighting the concern that such a large issuance of new tokens could cause inflationary pressure on the asset and cause its value to drop.

The Harmony team noted that 65,000 wallets from 14 different assets were affected by the hack and that they have “worked tirelessly to brainstorm and develop ways to realize the reimbursement” of victims.

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