'Crypto is not dead': Industry insiders react to report that states 72% of institutional traders have no plans to trade crypto in 2023

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Only 8% of institutional traders said they are currently trading crypto and digital coins, and 14% said they plan to in the next 5 years, according to a survey that included responses from 60 global locations.

JPMorgan Chase & Co. on Wednesday published a survey stating 72% of institutional traders, out of the 835 surveyed, “have no plans to trade crypto” in 2023. But some industry experts say that this doesn’t mean crypto is dead.

Yang is referring to the collapse of FTX, the crypto exchange that filed for bankruptcy in November, as well as the crash of cryptocurrency Luna in early 2022. Scandals and hacks in 2022 also took over $3 billion from victims who invested in crypto. Technology consulting company Capgemini released a survey in 2022, and out of 2,973 global high-net-worth individuals polled, 71% reported investing in digital assets, and 91% of HNWIs younger than 40 reported having investments in digital assets, with cryptocurrencies listed as their favorite digital investments, followed by exchange-traded funds and metaverse investments. Cryptocurrencies, however, still made up a very small proportion of their entire portfolio.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

¡No te pierdas esta oportunidad! Con hodorinvestments puedes obtener ingresos extras sin ningún riesgo. ¡Descubre más!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Despite a bear market, crypto’s future is still bright: Crypto in 2023
Source: Cointelegraph - 🏆 562. / 51 Read more »

UK Crypto Industry Celebrates Government’s Planned Exemptions for Crypto Ad ApprovalsCrypto advocates said the U.K. government listened and addressed its woes regarding the country's plans for promotions, which could have meant that advertising in the country would have been near impossible. camomileshumba reports
Source: CoinDesk - 🏆 291. / 63 Read more »