BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Crypto

Consumer Interest in Crypto Still High, According to Bank of America

Alexa by Alexa
June 17, 2022
in Crypto
Reading Time: 3 mins read
A A
Consumer Interest in Crypto Still High, According to Bank of America
1
SHARES
17
VIEWS
Share on TwitterShare on Reddit

A recent report by Bank of America shows that in spite of a market collapse, consumer interest in cryptocurrency is still strong. In the report, BoA explains, “despite the sharp correction in crypto valuations, consumer interest in the sector remains strong.” The report also included a survey conducted by the institution that showed a “growing interest” in crypto as a means of payment.

You might also like

Around The Block – MAR 17 Week in News

Cassava Network, An African Web3 Platform, Has Partnered With Non-Custodial Wallet To Widen Crypto Reach In Africa

UAE Announces Free Zone for Digital and Virtual Asset Firms

The Beginning of a New Type of Study by Bank of America

This report is the first of its kind from the banking institution. The Bank of America Global Research published a report Monday showing the results of its “inaugural crypto/digital asset survey” that took place earlier this month. 

There was a sum of 1,013 respondents to the survey who identified as a current or prospective crypto/digital asset investor, with 58% saying they currently own a digital asset of some kind. While 42% said they don’t own any now but intend to buy some within the next 6 months. 

In the report by Bank of America, their researchers wrote:

“Overall, our findings suggest that despite the sharp correction in crypto valuations, consumer interest in the sector remains strong.”

According to the results, “91% of respondents expect to buy crypto / digital assets in the next 6 months, the same percentage who said they bought in the last 6 months.”

Additionally, about 30% of respondents said that they did not have intentions to sell their digital assets for at least the next 6 months. 

The survey also suggests that crypto is actually growing in consumer interest in terms of using it as a viable payment method. The report mentions, “Interestingly, 39% and 34% of respondents reported using crypto/digital assets as a payment method to make online or in-person purchases, respectively.”

Additionally, 49% and 53% of respondents expressed interest in using crypto / digital assets to make either online or in-person purchases, respectively.

The survey also included questions pertaining to NFTs. Those respondents who claimed they owned digital assets, 38% responded they owned an NFT, with an overwhelming 50% saying they planned to purchase one in the next few months. 

Which Cryptos are the Most Popular?

Survey participants were also asked about which cryptocurrencies they invest in. The report describes:

When asked about which cryptocurrencies they were most interested in, the report returned:

“The most commonly owned crypto / digital assets were, unsurprisingly, bitcoin and Ethereum at 75% and 44% of respondents.”

Moreso, around 26% of the respondents claimed to own meme crypto, like SHIB, and DOGE coin.

12% said they owned stablecoins, like Tether (USDT), TerraUSD (UST), and USD Coin (USDC). Others were Terra (8%), Solana (8%), Avalanche (5%), and finally, Cardano (8%).

Tags: bank of americastudies
TweetShareShare

Recommended For You

Around The Block – MAR 17 Week in News

by BlockNews Team
March 17, 2023
0
Around the Block

Introduction In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of March 13....

Read more

Cassava Network, An African Web3 Platform, Has Partnered With Non-Custodial Wallet To Widen Crypto Reach In Africa

by BlockNews Team
March 17, 2023
0
Africa web3

Cassava Network's v3 aims to build a bridge between Web2 African users and the Web3 space. Cassava Network partners with UniPass, a non-custodial wallet to onboard more African...

Read more

UAE Announces Free Zone for Digital and Virtual Asset Firms

by BlockNews Team
March 17, 2023
0
RAK DAO UAE

Emirate Ras Al Khaimah will launch a free zone for companies in the digital and virtual crypto sectors The RAK Digital Assets Oasis platform is made for the...

Read more

Fidelity Crypto Opens to the Public: A Game-Changer in Commission-Free Crypto Trading

by BlockNews Team
March 17, 2023
0
fidelity building

Fidelity Digital Assets has opened its Fidelity Crypto platform to the public, offering commission-free trading of bitcoin and ether to more than 37 million retail users. Fidelity Crypto...

Read more

The Takedown of ChipMixer: A Turning Point in the Battle Against Crypto Laundering

by BlockNews Team
March 17, 2023
0
chipmixer

International authorities dismantled ChipMixer, a major cryptocurrency mixing service linked to criminal activities, and seized over $42 million in Bitcoin. ChipMixer was allegedly involved in high-profile crypto hacks,...

Read more
Next Post
Celsius Hire Lawyers to Help Restructure Company Amidst User Fund Freeze

Celsius Hire Lawyers to Help Restructure Company Amidst User Fund Freeze

Related News

Maverick Protocol

DeFi Protocol Maverick, Unveils UniSwap Rival Decentralized Exchange on Ethereum

March 10, 2023
RAK DAO UAE

UAE Announces Free Zone for Digital and Virtual Asset Firms

March 17, 2023
justin sun

Justin Sun Praises FTX Debt Token as “Top Quality Asset” on Huobi

February 7, 2023

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Around The Block – MAR 17 Week in News March 17, 2023
  • Cassava Network, An African Web3 Platform, Has Partnered With Non-Custodial Wallet To Widen Crypto Reach In Africa March 17, 2023
  • UAE Announces Free Zone for Digital and Virtual Asset Firms March 17, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?