However, research reveals that crypto users have not abandoned the market due to the volatility but are instead diversifying their holdings, according to findings from Mercuryo crypto wallet shared with Finbold on July 20. Mercuryo notes: The cryptocurrency wallet and business payments platform opines that this could be an indication that retail investors are showing some resiliency despite the volatility that is currently present in the market. CEO of Mercuryo, Petr Kozyakov, said:
Investors wait to re-enter the market
As an alternative to withdrawing their funds from the market, many investors have decided to convert some of their cryptocurrency holdings into stablecoins such as USDT in the interim as they wait to re-enter the market. Kozyakov added: Moreover, according to Mercuryo’s consumer research, 35% of UK residents own cryptocurrency, and 52% say they aim to do so soon. Ultimately, Kozyakov stresses that for more investors such as those in the UK who plan to own digital assets, education and regulation are essential to the widespread usage of cryptocurrencies. The CEO also emphasized crypto businesses should find real-world applications “to ensure they remain attractive.” Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
