According to a review by investment platform Shares Post on September 5, many retail and accredited investors propose to intensify their crypto asset holdings in the next twelve months. The mid-year study that was done in July surveyed 528 individual institutional and accredited investors and 2490 retail investors. The recent survey proves that both the consumers and the investors remain positive about the use of cryptocurrencies despite the weakening of cryptocurrency appraisals in 2018. Nearly 59% of investors and 72% of consumers expressed that they have been planning to purchase more coins in the subsequent twelve months.
Besides, 57% of investors and 66% of consumers presume the valuations of crypto to increase by the following year. Respondents were asked to rate cryptocurrencies by their preference. Bitcoin was highly preferred followed by Ethereum, Ripple, and Litecoin. Based on the survey, respondents discovered that these four cryptocurrencies show the highest potential for long-term success.
Additionally, participants highly expressed their curiosity about blockchain technology. According to 49% of consumers and 32% of investors, their employers are highly interested in applying blockchain in the forthcoming days. Both the consumers as well as investors assume that the success of blockchain integration is hugely dependent on the occurrence of appropriate commercial applications and proper learning on the technology.
According to 50% of respondents, the volatility of the crypto market was their only concern. On the other hand, according to 37% of respondents, their chief concern was safety. As Cointelegraph earlier reported, a poll led by research service, YouGov Omnibus, proves that half of the American millennials are fascinated in utilizing cryptocurrency. The costs of the digital currencies are far from the peaks in 2017; still, a record number of traders continue to use cryptocurrency trading software such as Bitcoin Profit. Nearly 79% of Americans are aware of at least one cryptocurrency.
Frankly, the cryptocurrency market isn’t in the best position since the beginning of the year as prices crashed by 70% after the massive run-up of 2017. Nonetheless, according to analysts from the American research house and investment management, Sanford C. Bernstein & Co., crypto exchanges are assumed to post substantial revenues toward the end of 2018. Collective revenues can double to $4 billion this year compared to the previous year’s figures, even when the market continues to show signs of a bearish trend.
If the analyst team of Bernstein is to be believed, then the buying and selling of cryptocurrencies on spot market exchanges created close to $1.8 billion of fees in the previous year. Many are skeptical regarding the $4 billion projection, but the proof posted by the top crypto exchanges appears to tell a different tale. According to a report by Ethereum World News in July, Binance is assumed to rake in almost $1 billion profits in the year 2018 alone, in spite of the dismal performance of the market for the initial eight months of this year. To put things into perspective, the revenues generated through crypto exchanges consist of 8% of the fees incurred by the investors on the legacy market exchanges, which is quite impressive.
