Predictions for the success of crypto still continues, and now a CEO of top exchange said the crypto market could reach $1 trillion valuation this 2018.
According to the founder and CEO of Kraken, Jesse Powell, the cryptocurrency market would continue to see an “acceleration” of growth.
He said the market capitalization of all cryptocurrencies would hit the $1 trillion mark in 2018.
“You’ve got a lot more kids graduating from crypto programs at universities now. I think we’re just going to see it continue exponentially from here,” Powell said.
As of posting and as per the data from industry website CoinMarketCap, the current market cap of all cryptocurrencies stands at around $417 billion.
It hit an all-time high of more than $800 billion in early January, before falling dramatically as a result of a huge cryptocurrency sell-off.
Traders have been weary of regulatory signals recently as government ministers in South Korea and India have both upped their rhetoric against virtual currencies.
Also, early this week, three top European Union regulators issued a warning to consumers about the risks associated with buying cryptocurrencies.
However, cryptocurrency enthusiasts seemed to be mostly positive about a hearing on cryptocurrencies held by the U.S. Senate Banking, Housing and Urban Affairs Committee last week.