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(Kitco News) – Widespread devastation in crypto prices as the market tumbled into the crypto winter hasn’t dampened Americans’ interest in the crypto sector, according to the Crypto Pulse. investigation for Q2 released by cryptocurrency exchange Bitstamp.
The survey, conducted by an independent research firm that surveyed 28,000 institutional and retail investors in 23 countries, said that “it is undeniable that many investors are using this winter to build a solid foundation for the next bull run in crypto”.
Overall, retailers surveyed in the Americas “continued to have more confidence in cryptocurrencies in the second quarter,” with the sole exception of Canada, which “saw confidence in cryptocurrencies drop slightly below 50% in the second quarter compared to the first quarter among the retailers surveyed”.
“All other countries in the Americas saw trust in cryptocurrency remain high at or above 68% with countries like Brazil at 77%, Chile at 69%, and Mexico at 70%,” the report details. report.
In the US, 61% of retail respondents reported investing in crypto in Q2 2022, representing a 44% increase in active investors from Q1, where 42% of US respondents bought crypto. This cohort also experienced “the largest increase in confidence, going from 61% in the first quarter to 73% in the second quarter”.
The main area of concern for respondents in the United States and Canada is education, with 44% of retail respondents indicating that they don’t know enough to start investing in crypto.
At the institutional level, 69% of respondents in the United States indicated that they recommend crypto to their clients. The results for this question were even higher in Mexico, with 78% of respondents answering yes, while in Brazil and Argentina the percentages were 72% and 71%, respectively.
Across the Atlantic, the proportion of retail investors grouped in the UK and Europe who rated crypto as a trustworthy investment fell from 54% in April to 52% in the survey. current, according to the report, which also noted that “this varied between countries.”
Looking at the results globally, the percentage of retail investors who consider crypto to be a trustworthy investment fell slightly from 67% in Q1 to 65% in Q2. Institutional investors saw a similar drop, with 67% still considering crypto to be trustworthy, down from 70% in Q1.
“Given that in the first quarter we were entering a crypto winter, these numbers are inspiring and speak for the resilience of the industry,” the report said.
Retail investors as a whole increased their crypto purchases in Q2, with those who identified as investing or trading in crypto on a daily or weekly basis rising from 56% in Q1 to 60% in Q2. One in four institutions indicated that they plan to make crypto a primary form of investment.
Overall, the crypto industry has held up remarkably well in the face of a major market correction. “Although confidence in crypto has declined slightly in some regions, investors are taking this time to increase their investment or deepen their knowledge of crypto,” the report concludes.
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