ASSESSMENT OF THE KEY DOMINANT CRYPTOCURRENCY DEVELOPMENT

The article is devoted to the study of key dominants of cryptocurrency development. Attention is focused on the assessment of such key indicators of the development of cryptocurrencies as the level of capitalization, trade volume, cost, and etc. This allows to identify and critically evaluate the current state of the cryptocurrency market, find out the existing obstacles to development and future prospects. The approaches to the content of the concept of «cryptocurrency» are explored. The author's interpretation of the concept of «cryptocurrency» is formulated. Cryptocurrency is a digital financial asset that exists in the form of software code, has a market value and provides for obtaining certain financial benefits. Highlighted key indicators for evaluating the development of cryptocurrency, on the basis of which the corresponding analysis was carried out. It has been established that in terms of capitalization level, trade volumes and cost, the leading place remains behind Bitcoin cryptocurrency. To date, one of the first national cryptocurrency has become «Ruble» (Karbo), which was launched in May 2016. The estimation of the national cryptocurrency Karbo capitalization index is an order of magnitude lower than the world cryptocurrency. As a result, key dominants of cryptocurrency development at the present stage have been identified, namely: the dynamic development of this sphere, which is manifested in the annual growth of cryptocurrency varieties and the qualitative indicators of their functioning; the lack of a clear legislative framework for carrying out operations with cryptocurrencies partially hinders their use in various areas of the national economy.