The cryptocurrency industry has witnessed the arrival of numerous investors. While some have gone all in, a few remain skeptical and continue to sit on the fence. But who is really bold enough to face the volatile waves of the cryptocurrency market? A recent report by CryptoQuant sheds light on the demographic that is increasingly interested in the digital asset market.
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Young Investors Dive Into The Cryptocurrency Industry
CryptoQuant’s survey titled “2024 Crypto Survey: Exchange Use and Investor Behavior” revealed that more than 60% of cryptocurrency investors are between the ages of 25 and 44. According to the report which was published on January 15, 35% of users are between the ages of 25 and 34, and 26% are between the ages of 35 and 44. This doesn’t come as a surprise as the younger generation has been taking over the cryptocurrency space for a while now.
In addition, moving over to the gender demographics, men were seen dominating the space. About 89% of respondents identified as male, and only 11% as female. The majority of respondents stated that they invest less than $10,000 per year, highlighting the cryptocurrency market’s predominance of retail investors.
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Binance Crowned As A Favorite
About 53% of respondents named Binance as their primary cryptocurrency exchange, making it the most popular. Additionally, it was the most profitable, with 51% of users saying that Binance was the source of their biggest profits. This was followed by 48% of respondents suggesting that the majority of their assets are held on the exchange.
It should be noted that CZ’s cryptocurrency exchange revealed adoption rates above 50%. Binance emerged as the market leader in South America, Africa, and Asia. According to 45% of respondents, Coinbase is the most popular exchange in North America.
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