Binance Survey Touts Crypto Confidence Among VIP Users, 88% Expect Bright Future
TL;DR A survey conducted by Binance revealed that 63.5% of institutional players held an optimistic view on the cryptocurrency sector. Of the 208 participants, 88% anticipate a bright future over the coming decade. Regulatory transparency was identified as a major catalyst for adoption, while 44.7% of institutional investors leverage crypto for intraday trading strategies.
About 63.5% of institutional players who took part in a Binance survey held an optimistic perspective on the cryptocurrency sector.
Of the 208 participants, who are either institutional clients or VIP users of Binance, 88% anticipate a bright future over the coming decade.
Dubbed the "Institutional Crypto Outlook Survey," the report revealed that only 26.9% of the institutional users involved in the study believe that the wider adoption of cryptocurrencies will be propelled by an increase in practical real-world applications.
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The study, conducted between March 31 and May 15, 2023, highlighted that 25.3% of the respondents regard regulatory transparency as a significant catalyst for the adoption of cryptocurrencies.
Participants also expect that the entrance of more financial entities, including crypto-supportive banks, into the space will be a major growth factor for the sector.
Other findings include:
47.1% of respondents chose to retain their cryptocurrency allocation over the previous year.
35.6% raised their allocation within the same duration.
Half of the investors are set to augment their cryptocurrency allocation.
A mere 4.3% plan to scale it down in the subsequent 12 months.
44.7%. of institutional investors leverage crypto for intraday trading strategies.
Market-making and arbitrage rank as the second most prevalent utilization, with 23.1%.
More than 50% of respondents managed less than $25 million in cryptocurrency.
22.6% of the participants had an allocation exceeding $100 million.
"Interestingly, for funds with an AUM above $75 million, portfolio diversification surfaced as an additional motivation to invest in cryptocurrencies," the report stated.
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