Quite lot of attention given to phenomenon of the users leaving the market of cryptocurrency in wake of market crash. This has also followed the breakdown related to Terraform ecosystem & further insolvency of brokers and lenders. On the other hand, as per the research the users of crypto market do not have abandoned the market because of volatility. Though, they diversify the holdings, as per the research from Mercuryo crypto wallet.
Crypto market and Mercuryo notes
Inspite of the average balances related to the Bitcoin in the wallets fallen by 30% from 2022 outset. Here, balance of the stablecoins has enhanced, also the average holdings of USDT are more by +40%.”
Even, the wallet of cryptocurrency & other platforms of business payments opines that it is clear cut indication of retail investors. They reflecting some kind of resiliency instead of volatility which is available in the market.
It is quite clear evidence that various crypto market holders do not desert in the droves. Just an opposite – instead of latest volatility, appetite for the crypto stays to be the same. There is absolutely no doubt that latest events also exposed the flawed projects of crypto fundamentally. Such kind of things require some change for avoiding it to happen again.
Investors plans to re-enter
With such an alternative for withdrawing of funds from Crypto Market, various investors decided for converting such holdings of cryptocurrency in the stablecoins like USDT in interim.
It is quite much evident in growth where we have also seen balance in growth of stablecoins among the users. It simply indicates faith for long term, consumers also believe that market will definitely recover, and will flourish.”
Also, as per consumer research of Mercuryo, 35% of the UK residents possess the cryptocurrency, and almost 52% say that they simply aim to do this.
