Cryptocurrencies are looking at a mainstream adoption by the next decade, according to a survey by crypto trading platform Bitstamp. In the early preview of the 2022 Global Digital Assets Pulse Survey, Bitstamp has released crypto trends from 23 countries.
Bitstamp, a global cryptocurrency exchange, surveyed over 28,000 investors spread across to study the global level of trust in crypto. The survey observes that 88% of institutional and 75% of retail investors believe that crypto will undergo mainstream adoption in a decade.
The report also discovers that a further 80% of institutional investors agreed that cryptos will overtake traditional investment vehicles.
Notably, levels of trust in the digital currency as an asset class are high, with 71% of investment professionals and 65% of everyday investors stating that they trust crypto. The trust levels, however, are prominently high in developing markets as opposed to developed markets where regulations remain a concern.
“Where trust in the traditional financial system is low: for example, in emerging economies, 79 per cent say crypto is more trustworthy compared to 62 per cent of more developed financial markets,” Bitstamp said.
As we move towards global crypto adoption, crypto-based startups are gaining traction in these uncertain economic times. Such startups are becoming the new face of the industry, that are receiving lofty investments.
Investors scratch their heads over crypto startups
According to data by PitchBook Data Inc., $5 billion has been invested in the crypto industry in Q1 of 2022. This is a two-fold increase from last year’s period. Certain factors were expected to deter these loft fundings but have failed to do so for now. Lofty valuations of companies and global market angst have so far been overlooked by investors in this crypto frenzy market.
In this regard, Noelle Acheson, head of market insights at Genesis Global, stated,
“Funding is starting to dry up in some of the other areas of tech financing- some IPOs and term sheets are dwindling. Some companies are struggling to get backers. But in crypto, we’re not seeing that yet.”