The US cryptocurrency owners currently make up 13% of the population. The investigation by JP Morgan was published on the matter.
The investigation of the market
A survey of bank trading deals involving cryptocurrency shows that more than five million clients were using crypto in the last month as stated in the recent JP Morgan report.
43 million US residents, or about 13% of the population, are estimated to have owned crypto at some moment in their investing history, according to a recent JPMorgan study.
The Inducements and Statistics department of the U.S. Department is currently working on statistics and investigation of the market. The usage of crypto is now significantly higher than it was two years ago when it was only about 3 percent.
It was discovered that, between 2020 and 2022, 600,000 of the customers traded crypto-related assets and cryptocurrencies using their accounts.
The study also discovered that people who own crypto bought them for the first time when the price was skyrocketing.
At this moment, more money is typically sent to cryptocurrency trading platforms’ wallets than is taken out. JP Morgan asserts that when cryptocurrency prices dropped at the beginning of 2022, everything changed. Cash deals from cryptocurrency traders have recently barely outpaced cash transfers to exchanges.
The way to save and gain profit
This, according to JP Morgan, is the solution to either the decreasing cryptocurrency prices or the general tendency in US funds’ levels since the pandemic.
The report also discusses whether particular groups of people are more likely to purchase cryptocurrencies. They discovered that younger people purchased significantly more cryptocurrency than older people and that men of all ages purchased significantly more cryptocurrency than women.
For instance, the study discovered that more than a quarter of male investors have acquired cryptocurrencies, compared to about twelve percent of female investors and only five percent of males older than forty years old.
I recognize. The study also discovered that most people’s cryptocurrency holdings were modest, with an average level of less than their week-to-week net gains.
The new study reveals that cryptocurrency possessions have grown in the course of the past few years despite the decline in price and trading activity.