OFR Data Analysis Shows High Growth, High Concentration in Digital Asset Market

Office of Financial Research sent this bulletin at 05/30/2023 10:02 AM EDT

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May 30, 2023

OFR Data Analysis Shows High Growth, High Concentration in Digital Asset Market

Authors: Francisco Ilabaca and Vy Nguyen

Trading in digital assets is highly concentrated and expanding rapidly, according to a recently published brief authored by OFR Researcher Francisco Ilabaca and the Treasury Department's Vy Nguyen. Crypto market capitalization–the total value of the crypto market–surged to roughly $2 trillion in 2021, up from $100 billion three years ago, according to CoinMarketCap. Analysis of a portion of this market shows that the number of companies in this space has also been growing.

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