A new study from the UK-based Juniper Research has found that the value of cryptocurrency transactions is expected to surpass $1 trillion in 2017, Finance Magnates reported.
The new research, The Future of Blockchain: Key Vertical Opportunities & Deployment Strategies 2017-2022, states that transaction values in H1 2017 surpassed $325 billion, driven by the dramatic increase in Ethereum’s (ETH/USD) price which saw it account for two-thirds of cryptocurrency transaction values in that time.
Cryptocurrency is now usually seeing daily trades well in excess of $2 billion.
Meanwhile, the research found that Litecoin (LTC/USD) experienced a surge in volume and value; if current levels are maintained it should exceed $100 billion in transactions this year.
“There is no resolution in sight to the continuing and fundamental disagreements between many Bitcoin (Bitcoin) miners and Bitcoin Core developers over the future of the cryptocurrency. This in turn could lead to uncertainty about Bitcoin’s future and downward pressure on its valuation,” research author Dr Windsor Holden explained.