Reports Show Bear Market Didn’t Affect Crypto Fundamentals
31 Oktober 2022 - 04:41AM
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Notably, the first half of the year brought the most drastic phase
of crypto winter ever witnessed in the history of cryptocurrency.
Coupled with the collapse of Terra and some crypto-related
companies, the market was thrown into a state of crisis. Related
Reading: Bitcoin Price Aims For $21,000, Will There Be A Wider
Trend Change? However, a report from Fidelity Digital Assets
implies that the crypto fundamentals remained unscathed through the
bearish trend. This information sprung following the manager’s
annual report tagged 22 Institutional Investor Digital Assets
Study. This occurred as the firm x-rayed the crypto industry from
an institutional perspective. According to the research, the crypto
market has fully repositioned to wade off the impact of
macroeconomics it’s been facing recently. Survey Indicates Strength
Of Crypto Fundamentals Tom Jessop, the President of Fidelity
Digital Assets, reacted to the research. According to him, digital
fundamentals have stood firm through the storm. Also, he noted that
the institutionalization of the crypto market for some years had
fortified it to withstand recent impacts. According to Jessop,
institutional investors exhibited their experience scaling through
different market cycles. He mentioned that the attractive factors
in the market maintained their relevance as they moved across the
bearish phase. The research surveyed about 1,052 experts from
different firms during the year’s first half. As a result, it
revealed the varying levels of crypto adoption among different
types of investors. According to the survey, adoption among
institutional investors increased in some regions compared to the
year’s value. The US and Europe recorded an increase of 42% and
67%. Asian institutional investors have a slight drop. But the
overall outcome showed that they had the highest adoption of crypto
assets with an allocation of 69%. In terms of investor type, crypto
adoption and consideration topped among high-net-worth investors,
venture capital investors, financial advisors, and crypto hedge
funds. The lower-scale adoption investors are endowments and
foundations, pension plans, family offices, and traditional hedge
funds. Fidelity Digital announced its provision of Ethereum trading
options for its institutional market earlier this month. Top
Appealing Features For Institutional Investors The research from
Fidelity Digital also recorded some appealing features, as noted by
institutional investors. The surveyed participants’ most appealing
ones include innovation technology, decentralization, and high
potential upsides. According to the survey, the surveyed investors
cited that crypto has no correlation to other assets as the fifth
most appealing feature. But the crypto markets have shown a high
correlation to tech stocks this year. Additionally, the research
covered investors’ plans for cryptocurrency investments or
purchases. It noted that 74% of the participants still had such
plans, slightly higher than the 71% recorded last year. Related
Reading: Bitcoin Whales Who Bought 1 Month Ago Hold Strong Despite
Chance To Take Profit The value is commendable, considering that
2021 was bullish while the bears dominated the 2022 digital asset
market. Featured Image From Unsplash, Charts From TradingView
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