Ever since Satoshi Nakamoto floated the idea of alternate digital currency, the world has never been the same. His idea of a cryptocurrency was realized through the Bitcoin which promised mobility, immutability, and most importantly, the elimination of third-party regulators. As people recognized the advantages of Bitcoin, many more cryptocurrencies emerged.

Cryptocurrency first entered the mainstream in 2017 when the Bitcoin entered a phenomenal bull run phase. During this period, Bitcoin’s value went from just under $1000 in January 2017 to approximately $20000 in December 2017. Interestingly, it had a positive ripple effect on the remaining cryptocurrency market and benefitted other coins as well. Here are some statistics asserting the same:

During the Bitcoin bull run, the number of cryptocurrencies available in the market grew to 1,800 by August 2018. Today, that number is still expanding and currently stands at 2,479.

At the beginning of 2017, the total cryptocurrency market capitalization rested at $18 billion, while daily trading volumes were a meager $115 million. Fasttrack to 2018, these figures blew out of proportion and created a record of sorts! The market cap grew by an unbelievable 4500% to $830 billion, and the daily trading volumes expanded by over 39000% to $45 billion!

Just recently, in June 2019, the market is experiencing some movement as the Bitcoin grew from $8500 to $12900 in a matter of weeks!

Check: View Pricing for Create Your Own Exchange Platform

Some pundits have predicted that it will not take long for the crypto market to surpass the market cap of all the companies listed on the Dow Jones! This goes on to show the great untapped potential of this industry. Now is a good time for budding entrepreneurs to invest in their own cryptocurrency exchange software and reap rich rewards as many existing platforms reports daily trading volumes that run into the millions if not the billions.

Today, it is very easy to set up your own exchange. Simply approach a development company like Blockchain App Factory and get started. They provide completely white-label solutions that are easy to customize and deploy. Their team of expert developers can help you create effective solutions that integrate all your requirements and give you a competitive advantage.