Market Analysis
The Crypto World 2020-2022
Mass adoption of cryptocurrency is continuing to expand and the crypto world is growing exponentially in tandem.
Only 66 cryptocurrencies existed in 2013, a tally which rose to 506 by 2014. Now in 2022, the market contains more than 10,000.
[1] Cryptocurrency trading volume reached several peaks in 2021, its highest being $4 billion on May 19. There are over 300 million crypto users globally and 18,000 businesses are now accepting the currency worldwide.
In 2021, investors across the globe accrued a total of $162.7 billion worth of crypto gains, a massive leap from the $32.5 billion generated in 2020. [2] Despite early 2022’s bearish market conditions, cryptocurrency market capitalization in the second quarter nevertheless equals $1.17 trillion. [3] Understandably, that figure is expected to climb in coming years as global markets—and interest rates—recover from the negative impact of COVID-19. Today in 2022, there are over 81 million wallet users, a 190% increase from 2018 to 2020. [4]In its decade of existence so far, the cryptocurrency sector has already distinguished itself with some remarkable accomplishments in terms of turnover and technological evolution. This young market is full to overflowing with opportunities for new companies and fresh innovations.
[2] Chainalysis
The Super App World 2022
Refresher: What is a super app?
Super apps essentially serve as a single point of access for a wide range of products and services. The premise is to have a single app, with one login and a seamless user experience across these products and services, allowing customers to have a ‘go-to’ place for whatever they need.
Most existing super apps started out with just one offering and have expanded their services and reach from there. For instance, WeChat, one of the best-known Chinese super apps, is often known as an ‘app for everything’. But it started out purely as a messaging app and built out the platform to include broader media and communications services and payments.
They now have more than a billion active users on a daily basis. Alipay, also based in China, enjoys a similar number of users, with over 90% market penetration. Unlike WeChat, Alipay has its roots in ecommerce and payments, building on that capability to become a lifestyle app that consumers can use for a broad range of day to day transactions.
Still an emerging trend in the West, super apps are a mainstay in Asia and Africa, with Europe and the U.S. eagerly eyeing these self-contained, all-encompassing web and mobile applications. From China’s WeChat to Latin America’s Rappi, super apps are the standard in many countries and have disrupted everything from digital financial services to online marketplaces. We explore the latest statistics on the topic and dive into where we believe super apps are headed beyond 2022.
Having all of these offerings in a single platform provides a frictionless experience for users when switching activities as they never need to leave the super app ecosystem.
Super app technology is anticipated to develop to support Internet of Things technologies, chatbots, and immersive experiences.
The Super App Shift: How Consumers Want Save, Shop And Spend In The Connected Economy, My NEO Group look at how consumer demand for streamlined payment experiences has created widespread interest in a super app to manage the complexity of modern life. The report is based on a census-balanced survey of 9,904 consumers in Australia, Germany, the United Kingdom and the United States conducted between Jan. 11 and Jan. 31 2022.
SEE REPORT Super-App-Shift-October-2022
THE SUPER APP SHIFT 2022
Last modified 3mo ago