Gemini’s 2024 Global Crypto Report Signals Potential Recovery in Retail Market!
According to Gemini’s 2024 report, crypto adoption in the US and the UK has remained stable despite significant market challenges.
Despite significant market challenges, crypto adoption in the US and the UK has remained stable, signaling a potential recovery in the retail market, according to Gemini’s newly published 2024 Global State of Crypto report.
The report, based on a survey of 6,000 respondents from the US, UK, France, Singapore, and Turkey conducted between May 23 and June 28, finds that crypto adoption remains stable, with 21% of US respondents and 18% of UK respondents expecting to own digital assets in both 2022 and 2024.
In contrast, France saw an increase in crypto ownership from 16% to 18%, while Singapore saw a decrease from 30% to 26%.
Gemini’s survey revealed that nearly two-thirds of respondents hold crypto primarily for its long-term investment potential, with 38% viewing it as a hedge against inflation.
However, regulatory uncertainty remains a significant hurdle, with 38% of non-crypto holders in the US and UK citing regulatory concerns as the main reason for staying away from digital assets, compared to 32% in France and nearly half in Singapore.
Spot exchange-traded funds (ETFs) have contributed to the market’s growth, with 37% of investors in the US now owning crypto through an ETF. The majority of crypto investors want to allocate at least 5% of their portfolio to digital assets.
The gender gap in crypto ownership has widened slightly, with 69% of owners identifying as male and 31% as female.
Notably, 73% of US crypto holders said a candidate’s stance on digital assets would influence their vote in the upcoming 2024 presidential election.
Gemini's findings point to a resilient crypto market that is poised to recover even amid ongoing regulatory concerns and market volatility.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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