Gemini

2024

United

Gemini, the cryptocurrency exchange has released its 2024 Global State of Crypto report. The report surveyed 6,000 individuals from the US, UK, France, Singapore and Turkey. 
The report provides insights into crypto ownership, investor attitudes, and barriers to entry as revealed by the surveyed individuals. Gemini interacted with the respondents from May 23 to June 28, 2024. 
According to the <a href="https://www.gemini.com/blog/introducing-the-2024-global-state-of-crypto-report" target="_blank" rel="noopener nofollow">report</a>, ownership rates have remained relatively stable despite the bearish period that the crypto market endured in 2022. 
The United States maintained its 21% adoption rate, and the United Kingdom held steady at 18%. France, on the other hand, saw a slight increase to 18% from the 16% recorded in 2022. However, Singapore experienced a minor dip to 26% from 30% in the previous year. 
<img decoding="async" src="https://www.cryptopolitan.com/wp-content/uploads/2024/09/gemini-report.png"> 
<h3 id="span-style-font-weight-400-regulatory-concerns-remain-a-major-adoption-hurdle-span">Regulatory concerns remain a major adoption hurdle&nbsp;</h3> 
The survey identified that regulatory concerns remain a major consideration. As per the report, 38% of non-owners in the US and UK cited regulatory uncertainty as a reason for not investing in crypto. This figure was even higher in Singapore, with 49% of the respondents citing the same reason. 
The long-term investment focus appears to be growing. This is evident as 57% of crypto owners shared that they are comfortable allocating 5% or more of their portfolio to crypto assets. 
Commenting on the findings, Marshall Beard, the COO of Gemini said, “Crypto investors have proven their resilience over numerous market cycles throughout the years, and the latest downturn was no exception.”&nbsp; 
<h3 id="span-style-font-weight-400-gemini-finds-no-gender-disparity-in-holding-tendencies-span">Gemini finds no gender disparity in holding tendencies</h3> 
The study identified that women who enter the market are just as likely as men to adopt a long-term “HODL” strategy. 
Gemini also highlighted in its report that the introduction of crypto ETFs has made an impact in the US. This is because 37% of crypto owners hold some assets through these instruments, and 13% are using ETFs exclusively for their crypto exposure. 
Notably, the report reveals that crypto has become a political issue in the United States. 73% of crypto owners plan to consider candidates’ crypto policies in the upcoming presidential election. 
For the first time, Gemini included Turkey in its survey. The study has revealed that the majority of respondents (58%) in Turkey reported owning cryptocurrency. Interestingly, a larger percentage (65%) expressed their wish to purchase crypto in the next year. Turkish crypto owners were also more likely to actively trade compared to those in other surveyed countries. 
The Gemini study also revealed that selling has slowed in the last six months. However, the few who were leaving the crypto market also cited price volatility as the main reason.

Gemini report shows that crypto selling has slowed in the last six months

Table of Contents

Cryptopolitan_News

Other articles published on Sep 11, 2024

Weekly Article Recap: 9/02-9/06

GameFi Dominates Industry Again but Not for Long, Cybro Preparing to Bring Back AI Altcoins Domin...

Indonesian Crypto Exchange Suffers $20 Million Loss in Hack

Gnosis Pay Launches Referral Campaign with NFT Rewards

FBI Finds Crypto Fraud Losses Hit $5.6B in 2023, Up 45% from 2022

Binance Expands Support for 14 Altcoins, Delists 4 Trading Pairs

Join our free newsletter for daily crypto updates!