Blockchain Press Releases
Online/Virtual Fitness Market Exhibit 34.6% CAGR and Generate $2,04,359.4 Million by 2031 | Research Dive
NEW YORK, June 23, 2023 /PRNewswire/ — The online/virtual fitness market is expected to observe significant growth by 2031, owing to the increasing demand for progressive fitness assemblies to acquire physical fitness. The North America region was the most dominant in 2021.
Global Online/Virtual Fitness Market Forecast Analysis:
As per the report published by Research Dive, the global online/virtual fitness market is projected to garner a revenue of $2,04,359.4 million and rise at a stunning CAGR of 34.6% over the analysis timeframe from 2022 to 2031.
Segments of the Online/Virtual Fitness Market
The report has divided the online/virtual fitness market into the following segments:
- Streaming Type: live and on-demand
- On-Demand – Held the highest market share in 2021
The increasing adoption of on-demand virtual fitness among customers owing to the ease of choosing training sessions and reaching many exercisers of all fitness levels to provide a wide range of coaching techniques is predicted to boost the growth of the market sub-segment further. - Session Type: group and solo
- Group – Generated the largest revenue in 2021
The increasing popularity of group workouts among individuals as the class mainly focuses on developing postural alignment to boost strength and balance, and freedom of movement among individuals is predicted to augment the growth of the market sub-segment forward. - Revenue Model: subscription, advertisement, and hybrid
- Subscription – Held the maximum market share in 2021
The subscription model helps individuals provide customers with on-demand access to a variety of exercise courses that can be watched on laptops, televisions, and cell phones, which is expected to amplify the growth of the market sub-segment in the coming period. - Device Type: smart tv, smartphone, laptops desktops and tablets, and others
- Laptops, Desktops, and Tablets – Registered the biggest market share in 2021
The increasing use of laptops, desktops, and tablets among individuals to access virtual fitness programs in their comfort and allow them to work out in their busy schedules is expected to fuel the growth of the market sub-segment further. - End User: professional gyms, sport institutes, defense institutes, educational institution, corporate institution, individuals, and others
- Professional Gyms – Garnered the dominant revenue in 2021
Unlike traditional gyms, professional gyms can identify the benefits of virtual fitness programs such as the ability to reach a wider audience and offer a wide variety of workers and trainers which is expected to uplift the growth of the market sub-segment forward. - Region: North America, Europe, Asia-Pacific, and LAMEA
- North America – Held the largest market share in 2021
The rising popularity of inventive fitness solutions with health awareness campaigns across the region and the growing need for novel fitness platforms are the major factors expected to drive the regional growth of the market during the forecast period.
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Dynamics of the Global Online/Virtual Fitness Market
The increasing preference of individuals for choosing healthier lifestyles such as good diets, flexible activities, and better healthcare is expected to fortify the growth of the online/virtual fitness market over the analysis timeframe. Besides, the increasing demand for progressive fitness assemblies to acquire physical fitness and the rising demand for innovative and convenient fitness solutions among individuals are expected to propel the growth of the market during the forecast period. However, the high cost associated with advanced virtual fitness programs may hamper the growth of the market in the coming period.
The rising trend of exergaming platforms among individuals to develop their self-confidence, strength, and health is further expected to create extensive growth opportunities for the market during the forecast timeframe. In addition, virtual fitness platforms deliver a range of progressive fitness assemblies such as high-intensity interval training, strength training, and others which are expected to fuel the growth of the market over the estimated period.
Covid-19 Impact on the Global Online/Virtual Fitness Market
Though the outbreak of the Covid-19 pandemic has devastated several other industries, it has positively driven the online/virtual fitness market. This is mainly due to the increasing demand for virtual/online fitness platforms among individuals to maintain physical distancing and control the spread of the deadly virus. Moreover, many people have started adopting new technology to stay healthy and connected during the pandemic due to lockdowns and social distancing guidelines. All these factors have increased the growth of the market throughout the crisis.
Key Players of the Global Online/Virtual Fitness Market
The major players of the online/virtual fitness market include
- Navigate Wellbeing Solutions Peloton
- Les Mills International Ltd.
- REH-FITSworkit
- FitnessOnDemand
- Viva Leisure
- Fitbit Inc.
- Wellbeats Inc.
- ClassPass Inc.
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
For instance, in May 2022, Dyaco, Inc., one of the leading designers, marketers, and manufacturers in both home and commercial fitness equipment industries launched its new product namely, XTERRA Fitness TRX5500 Folding Treadmill. This product is specifically designed for people who want to work out in an entertaining way.
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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Blockchain Press Releases
GRVT Launches Biggest Ever Trading Competition for Retail Traders, Offering Up to 175,000 USDT in Prizes
SINGAPORE, May 7, 2025 /PRNewswire/ — GRVT (pronounced “gravity”), the world’s first licensed onchain exchange – is excited to announce its largest trading competition to date, running from May 7 to June 5, 2025. The competition offers retail traders the chance to win a share of up to 175,000 USDT and 85 million Trader Points.
The event is open to all KYC-verified GRVT users and features a volume-based rewards system with nine reward bands and 15 prize levels. Participants will be rewarded based on their total trading volume during the competition period. The total reward pool will expand as the overall trading volume increases.
Early participants can also take advantage of special bonus rewards, and lucky traders will receive exclusive GRVT-branded merchandise.
Hong Yea, co-founder and CEO of GRVT, commented, “This trading competition marks the biggest event for our retail traders since our Mainnet launch at the end of last year. I am incredibly proud of what the team has delivered since Mainnet, and I’m grateful for the enthusiasm and support from our global community. We are committed to continuous improvement and look forward to bringing even more exciting opportunities to our users.”
For full details about the GRVT Trading Competition, including the complete rules and reward structure, please visit: https://help.grvt.io/en/articles/11168184-grvt-trading-rush
Disclaimer: Perpetuals trading of cryptocurrencies is subject to high market risk and price volatility and you may be called upon at short notice to commit further margin deposits or risk being liquidated. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our Risk Disclosure and Disclaimer in full.
Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.
About GRVT
GRVT (pronounced “gravity”) is a blockchain-based platform that is democratizing how wealth is created and shared. It allows everyday people to trade, invest, and grow their wealth by providing direct access to top industry traders and investors. As the world’s first licensed onchaindecentralized exchange, GRVT is where traditional banking meets decentralized innovation on one regulated, compliant, trustless financial market place.
GRVT official website: https://grvt.io/
For media inquiries, contact: [email protected]
Social and Community: X | LinkedIn | Telegram | Discord
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Blockchain Press Releases
Pharos Network Unveils High-Performance Layer 1 Testnet to Unlock RWA Adoption
HONG KONG, May 7, 2025 /PRNewswire/ — Pharos Network, a high-performance blockchain built for real-world assets (RWAs), announced the launch of its Testnet today. Designed for institutional-grade RWAs and enterprise-scale DeFi, Pharos offers a next-generation, modular infrastructure that addresses the key bottlenecks preventing institutions from entering Web3. The platform powers scalable deployment of decentralized applications, enables efficient payment solutions, and unlocks new use cases for tokenized assets.
The Pharos Testnet achieves up to 30,000 transactions per second with one-second finality, setting a new benchmark for Layer 1 blockchain performance. Its GPU-like architecture could support billions of users and reduce storage usage by 80%. The network also features built-in support for decentralized AI and privacy preserving SPN. With ZK-based KYC/AML capabilities, Pharos ensures enterprise-ready security and compliance. It remains fully EVM-compatible, offering faster and cheaper transactions, while enabling flexible, on-chain innovation.
Pharos’s product stack directly addresses the core bottlenecks in RWA adoption—scalability, compliance, and flexibility—unlocking new use cases across sectors such as renewable energy industry finance, payment, supply chain finance, and tokenized real estate. Its modular, high-throughput infrastructure enables secure deployment of RWA at scale, while meeting the regulatory and performance demands of the financial industry.
A growing ecosystem is already emerging on the Pharos Testnet, enabling innovative Defi use cases for RWAs. As an early collaborator of Pharos, OKX Wallet will support Pharos Testnet natively at launch. Early Pharos ecosystem projects include Zenith Swap, ELFi, Buzzing Club, Nextmate.AI, Faroswap, R2, OpenFi, Hemera, Blocksense, Supra, and more.
Founded by former AntChain and Alibaba blockchain leaders, the Pharos team brings deep enterprise experience, uniquely positioning it to deliver enterprise-grade solutions for institutions exploring green finance, payments, and new forms of programmable ownership and asset tokenization.
“The Pharos Testnet represents a significant milestone in our mission to unlock the true potential of RWAs. By providing a high-performance, scalable, and adaptable platform, Pharos meet the needs of bringing real world assets on a chain and bringing utilities to these assets.” said Alex Zhang, CEO of Pharos Network. “We’re excited to watch innovation flourish on Pharos and accelerate the convergence of traditional finance and decentralized technology.
Developers and users can access and experience the Testnet by visiting testnet.pharosnetwork.xyz.
About Pharos
Pharos Network is a revolutionary Layer 1 blockchain platform that sets new benchmarks in decentralized technology with its extreme performance and scalability. Founded by ex-blockchain leaders from Ant Financial and Alibaba, Pharos aims to build the best chain for RWAs and enterprise-grade DeFi, achieving the highest EVM Layer-1 performance with 50K TPS and being the first to reach 2 gigagas/sec. In addition, Pharos is a co-developer of SmartCogent, an AI toolkit for large language models (LLMs), and the core development team of DTVM technology. For more information, please visit https://pharosnetwork.xyz.
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Blockchain Press Releases
Cango Inc. Maintains Strong Mining Efficiency and Expands Bitcoin Holdings Amidst April Production Shift
SHANGHAI, May 7, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG), a leading bitcoin mining company, recently released its April 2025 production update for its crypto mining operations.
In April 2025, Cango mined a total of 470.0 Bitcoins, an 11.3% decrease compared to 530.1 Bitcoins mined in March 2025. The average daily Bitcoin production was 15.7 in April, compared to 17.1 in March.
Despite the month-over-month production dip, Cango increased its total Bitcoin holdings, reaching 2,944.8 as of April 30, 2025, up from 2,474.8 at the end of March. The Company’s deployed hashrate remained consistent at 32 EH/s, while the average operating hashrate was 29.9 EH/s, compared to 30.3 EH/s in March 2025.
“The production decline in April was mainly due to a significant surge in the global hashrate, marking its second-largest monthly increase ever recorded. Consequently, the mining difficulty rose by 8% compared to March,” said Jiayuan Lin, Chief Executive Officer of Cango, “Despite this short-term fluctuation in production volume, we remain firmly committed to our Bitcoin holding strategy. With the current value of our Bitcoin holdings at $279 million, we are confident that our strategic initiatives and ongoing operational enhancements will continue to generate long-term value for our stakeholders.”
About Cango Inc.
Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.
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