A new report by Allied Market Research stated that the global Cryptocurrency market generated over $1.49 billion in 2020 and is anticipated to reach $4.94 billion by 2030, growing at a CAGR of 12.8% from 2021 to 2030. The report also detailed that increase in demand for transparency in the payment system and surge in flow of remittance from foreign countries boosted the growth of the global cryptocurrency market.