Financial institution of America’s new report explains that “regardless of the sharp correction in crypto valuations, shopper curiosity in the sector stays robust.” The report, which incorporates the financial institution’s new crypto survey, additionally reveals “rising curiosity” in cryptocurrency’s use as a method of fee.
Financial institution of America’s Inaugural Crypto Survey
Financial institution of America World Analysis printed a report Monday highlighting the outcomes of its “inaugural crypto/digital asset survey,” which passed off early this month.
Out of 1,013 survey respondents who recognized themselves as present or potential crypto/digital asset traders, 58% mentioned they presently personal crypto or digital property. The opposite 42% mentioned they don’t personal crypto presently however plan to purchase some in the following six months.
Within the report, which Financial institution of America shared with Bitcoin.com Information, the analysis group wrote:
General, our findings recommend that regardless of the sharp correction in crypto valuations, shopper curiosity in the sector stays robust.
In line with the survey outcomes, “91% of respondents anticipate to purchase crypto / digital property in the following 6 months, the identical share who mentioned they purchased in the final 6 months,” the report particulars.
Moreover, 30% of respondents indicated that they don’t plan to promote any of their crypto holdings over the following six months.
The survey additionally reveals “rising curiosity” in crypto’s use as a fee methodology. “Curiously, 39% and 34% of respondents reported utilizing crypto / digital property as a fee methodology to make on-line or in-person purchases, respectively,” the report describes, noting:
Moreover, 49% and 53% of respondents expressed curiosity in utilizing crypto / digital property to make both on-line or in-person purchases, respectively.
Furthermore, the survey consists of questions on non-fungible tokens (NFTs). Amongst digital asset house owners who responded, 38% revealed additionally they owned an NFT, with over 50% of respondents saying they plan to purchase NFTs over the following few months.
Fashionable Cryptocurrencies Amongst Respondents
Survey members had been additionally requested about which cryptocurrencies they make investments in. The report describes:
Probably the most generally owned crypto / digital property had been, unsurprisingly, bitcoin and ethereum at 75% and 44% of respondents.
Furthermore, 26% of respondents mentioned they owned meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB).
An extra 12% mentioned they owned stablecoins, reminiscent of tether (USDT), usd coin (USDC), and terrausd (UST). Different fashionable cryptocurrencies amongst respondents had been terra (8%), cardano (8%), solana (8%), XRP (6%), and avalanche (5%).
Cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST) collapsed in early Could. Their controversial implosion has prompted regulators in numerous international locations to research the collapse and name for the pressing regulation of stablecoins.
What do you consider the findings from this Financial institution of America survey? Tell us in the feedback part beneath.
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