Social Networks Like Facebook May Lend Legitimacy To Cryptocurrency Market, Says GlobalData

By Staff Writer

Despite hogging headlines everyday the cryptocurrency market is yet to make much progress towards becoming a mainstream currency. However, the foray of social networks/messaging providers may give some legitimacy to this market, says leading data and analytics company GlobalData.

With subscriber growth and active users continuing to be a cornerstone of monetization, social networks/messaging providers are finding that the traditional road to growth and revenue is bumpy due to geographical preferences and lack of scale compared to a behemoth like Facebook.

As a result, social networks/messaging providers are embarking on some very non-traditional strategies including cryptocurrencies for revenue and product enhancements. They …read more

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