Crypto Trust rating high despite bear market negativity, study shows
US crypto users showed increased loyalty and trust in digital assets despite the crippling bear market.
ONE Q2 Crypto Pulse Study confirmed that the increased volatility of crypto prices has failed to dampen the enthusiasm of Americans in the asset class.
The study covered more than 28,000 retail and institutional traders and investors from 23 countries and showed that a large portion of investors are taking advantage of the bear market, making it a springboard for the next big wave.
Americans Remain Bullish Despite Crypto Decline
The majority of Americans remain extremely positive about digital assets. In fact, the only country that saw a 50% drop in crypto trust was Canada.
The rest of the other countries have shown strong faith and trust in the power of digital currencies, showing a trust rating of over 68% such as Chile (69%), Brazil (77%) and Mexico (70%).
Canada’s biggest concern with digital currency is a lack of investment knowledge. The respondents from both Canada and some parts of the United States have expressed their concern because they lack education regarding crypto.
Photo: 123RF
In the US alone, around 61% of retail investors invested in crypto during Q2, which showed a 42% increase from Q1.
The biggest increase in trust scores was also seen in the same group with a jump from the first quarter of 61% to 73% in the second quarter.
From an institutional perspective, almost 70% of US investors state that they have recommended crypto use to their respective clients.
Retail investors increased Bitcoin purchases in Q2
On the other hand, retail investors on the Atlantic side, such as from Europe and the UK, recorded a drop in confidence scores from 54% to 52%.
In general, retail investors from around the world have shown some waning confidence and enthusiasm, with a confidence score of 67% in Q1 falling to 65% in Q2.
Nevertheless, the numbers above show the robustness and resilience of the industry, as despite being on the brink of a crypto winter in Q1, retail investors in turn increased their purchases in Q2.
More so, those who shopped on a daily or weekly basis have also increased from 56% to a whopping 60%. Another winning streak is that one in four companies intends to invest in digital currencies.
Crypto total market cap at $952 billion on the weekend chart | Source: TradingView.com
Featured image from pngitem.com, chart from TradingView.com
