Competition in the Cryptocurrency Market
How do cryptocurrency exchanges compete with each other?
Specifically, we look at two aspects:
- Competition among different currencies
- Competition among exchanges
We analyze how network effects affect competition in the nascent cryptocurrency market.
Conclusion:
The cryptocurrency market is a rapidly evolving and competitive landscape. Exchanges are constantly vying for market share, and new currencies are emerging all the time. In order to succeed, exchanges must be able to offer a competitive product and service that meets the needs of their users. Those that are able to do so will be well-positioned to thrive in this dynamic and growing market.
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