According to a new study by Sanford C. Bernstein & Co., the income of the сryptocurrency exchanges this year could grow by more than 2 times and reach the level of $4 billion, reports Bloomberg.
The authors of the report under the title “Trade in cryptocurrencies – a new phenomenon is already here?” Argue that the decline in the market of the cryptocurrency is unlikely to affect the index of profitability of trading floors.
Moreover, “as the class of digital assets and institutional demand grow,” firms in the traditional finance sector, including storage and asset managers, will find “too much opportunity” to join this sector.
Analysts say that in 2017, the purchase and sale of cryptocurrencies brought the exchanges $1.8 billion only at the expense of commission fees, which is equivalent to 8% of the earnings of traditional exchanges. Based on this data, Bloomberg concludes that “in the context of segments, only the global business of common shares has bypassed trading in cryptocurrencies.”
The authors of the report also note that participants in the broader financial sector have so far avoided entering into transactions in the cryptocurrency market due to regulatory uncertainty and high volatility. However, they acknowledge that the risks that deter firms from Wall Street can be significantly mitigated by the decisions of the American exchange Coinbase, which is increasingly based on an “unshakable competitive position.” They also suggest that Coinbase may account for about 50% of the total stock of stock exchanges from the processing of transactions.
Recently, Coinbase CEO Brian Armstrong said that in 2017, his company registered 50,000 users a day and helped them to carry out transactions with cryptocurrencies for $150 billion.