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Binance Survey Touts Crypto Confidence Among VIP Users, 88% Expect Bright Future

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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.
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  • 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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Read Next: South Korea Steps Up Crypto Oversight By Enacting Expansive User Protection Law

Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023 to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!

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