Europe is embracing crypto with enthusiasm and high expectations: Research

Binance, the world’s largest crypto exchange, has attempted to map European crypto adoption in a new study and the results are very hopeful. The lion’s share of respondents are interested in digital assets and expressed confidence that the industry will have a successful future.

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European crypto optimism

Binance surveyed a total of 10,498 people between October 14 and November 8 last year. Respondents to this survey were selected from one of the following European countries: France, Italy, Spain or Sweden.

Europeans seem to be very positive about the future of the crypto world. 73 percent of participants expect increasing acceptance of crypto and the underlying blockchain.

The most important drivers for mainstream adoption in Europe, according to 20, 18 and 17 percent of respondents respectively, are: high returns, decentralization and innovation

Additionally, the survey delved deeper into the current level of cryptocurrency engagement.

More than half of those surveyed, even 55 percent, said they use cryptocurrencies every day for everyday purchases. 10 percent said they choose crypto as a payment method at least once a week.

When asked about their most common use of digital assets, 34 percent of respondents said they use the assets for long-term trading, 26 percent use them for savings, 13 percent use them for day trading, and 9 percent use cryptocurrencies for purchases.

Finally, more than 24 percent of respondents said that more than half of their total trading activity involves digital assets.

Bullish 2024 for Bitcoin?

The research results correspond to the overall expectations of the market. With the recent launch of Bitcoin (BTC) exchange funds and the upcoming Bitcoin halving that will take place sometime in April, many are expecting new price records for Bitcoin to be on the horizon.

However, not everyone is equally convinced that the year will be rosy. Bloomberg analyst Mike McGlone, for example, believes that macroeconomic factors will have a devastating impact on Bitcoin this year.


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