Insightful Overview of Gemini’s Latest Crypto Report 📈
This year, the cryptocurrency landscape continues to evolve, and the prominent exchange Gemini has unveiled its report titled “Global State of Crypto 2024.” This report sheds light on critical aspects such as the effects of ETFs, the global ownership of crypto assets, and the ongoing gender dynamics within the industry. The study is built on a survey conducted by the Data Driven Consulting Group, which encompassed 6,000 participants from the USA, UK, France, and Singapore, all aged between 18 and 75 with an annual household income of at least 14,000 USD.
The findings presented in this report were analyzed against previous data collected by Gemini from November 2021 to February 2022, providing a comparative view of shifts in market behavior and investor sentiment. Below you will find the essential details derived from the latest insights.
Gemini’s Report: Continual US Investor Participation Driven by ETFs 🇺🇸
According to the “Global State of Crypto 2024” report, participation among US investors has shown remarkable stability over the past two years. Despite the downturn in 2022, which saw the elimination of over 1.2 billion USD from the market, the proportion of cryptocurrency owners in the USA has held steady at 21%.
Gemini attributes this consistency to the introduction of spot Bitcoin ETFs earlier this year, which have drawn new investors to the cryptocurrency space, thereby increasing market demand. A notable 37% of surveyed cryptocurrency holders indicated they had made purchases via an ETF, while 13% stated they solely own crypto through these funds, suggesting a significant uptick in adoption during 2024.
The remaining 63% procured their cryptocurrency through centralized exchanges (CEX) or other decentralized methods. The recent influx of capital into Bitcoin has pushed its price to an impressive new high of 73,700 USD.
“Investors in cryptocurrency have shown remarkable resilience across various market cycles, and this downturn has been no different. The emergence of spot ETFs in the United States, coupled with significant advancements in regulatory frameworks in numerous regions, has positioned the industry for notable growth,” stated Marshall Beard, Chief Operating Officer at Gemini.
Global Crypto Ownership Trends: Gender Disparities and Shifting Investor Base 🌍
The findings from Gemini’s report reveal that while the percentage of crypto investors in the USA remains unchanged, global trends indicate a shift in both asset ownership and gender representation. Data shows significant growth in past-owners in the United States, contrasted with a decrease in individuals who have never owned cryptocurrencies.
In the UK and France, there has been a minor increase in crypto holders, along with a transition of non-owners to prior owners. Conversely, Singapore has witnessed a decline in current crypto holders, although past-owners are increasing.
Notably, Gemini’s report highlights an exodus of previous investors, with around 75% having exited the market over six months ago and many leaving even longer ago. Among them, 29% cited financial losses as their primary reason for selling their assets. However, the report also hints at an encouraging prospect: many former investors may re-engage with the market soon, particularly if favorable market conditions arise.
Interestingly, the gap between male and female participation in crypto has widened since the previous survey in 2022, with 69% of current holders identifying as male compared to 31% female. In 2022, the male-to-female ratio was closer, with 58% and 42%, respectively.
The USA demonstrates the most significant gender disparity, with only 28% of female crypto owners. In contrast, France shows a higher proportion of female investors at 35%, although this number has declined since 2022. Singapore, meanwhile, has seen female representation decrease from 54% to 31%.
Gemini’s Findings on Investment Approach: Female Investors Favor Long-term Holding 🙋♀️
Despite women’s diminishing presence in the cryptocurrency realm, the Gemini report reveals that those who do invest tend to adopt a longer-term perspective. In fact, women are more likely to have acquired their assets over a year ago compared to their male counterparts in most regions.
In the UK, however, the genders are nearly equal, with men exhibiting a conservative holding rate of 16%, just ahead of women at 15%. Yet, in the USA, France, and Singapore, the trend continues to favor women regarding the likelihood of holding investments. This behavior suggests a more deliberate approach towards investing among female crypto enthusiasts.
Remarkably, almost two-thirds of respondents in the Gemini survey indicated that their crypto purchases were intended for long-term holding. A mere 30% exited their investments due to losses incurred within a few months. Most investors perceive a considerable potential for long-term asset appreciation, although only a few made purchases over the past year. Nearly 40% consider crypto as a hedge against inflation, particularly during periods of high public debt that challenge fiat currency stability.
Final Thoughts: Optimism Illuminates the Future of Crypto 🌟
The concluding insights from Gemini’s report paint a positive picture for the future of the cryptocurrency sector. Over 70% of the surveyed individuals expressed intentions to consider purchasing crypto within the coming year. While enthusiasm is more pronounced in the United States, it is somewhat tempered in the UK and France.
The report underscores a prevailing optimistic sentiment among the 6,000 participants, indicating many hold a bullish outlook for the cryptocurrency’s future. Despite the trials faced by the industry in 2022, the anticipation for a rebound in market activity remains strong.
The landscape ahead looks promising, suggesting that the crypto world is poised for noteworthy developments in the months to come.
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