Crypto Allocations Up 36% Amid Market Volatility: Binance Survey
Despite market volatility, according to a survey conducted by Binance Research, the research arm of Binance, a global cryptocurrency exchange, 47.1 percent of institutional investors have maintained their crypto allocation over the past year and more than a third have increased their allocation over the same period.
Following a series of bankruptcies and liquidity issues, including the high-profile collapse of crypto exchange FTX, the cryptocurrency market fell by nearly $1.4 trillion in 2022 and has been volatile in 2023.
The Institutional Crypto Outlook Survey, which polled 208 Binance VIPs and institutional users between March 31 and May 15, 2023, revealed that an increasing number of institutional crypto investors are looking for long-term gains. According to the survey, 63.5% of users are optimistic about digital assets in the next 12 months, while 88% are more optimistic about the next decade.
(With inputs from Shikha Singh)
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