The crypto market is maturing and is no longer driven by speculation, according to a new report from BTC Markets (BTCM). According to the report from the Australian cryptocurrency exchange, Crypto market growth in 2021 was driven by utility.
The BTCM 2021 Investor Study Report is an in-depth analysis of BTCM exchange data for the year 2021, broken down by demographics (age, gender, investor type) to anonymously examine and analyze investment habits in cryptocurrencies among its 325,000 customers.
The “crypto queens” or rather the female investors on the platform would have grown at a faster rate than their male counterparts. Female investors increased 126% compared to men who increased 83%.
According to the report, the most significant influx of new customers for BTCM in 2021 came from Australia’s “mature wealth accumulators”, who are between the ages of 45 and 59 and are up 79% year over year. The trend is encouraging, according to BTC Markets CEO Caroline Bowler, due to the cautious risk appetite of this age group as they begin preparing for retirement. She added:
“They bring a wealth of experience in traditional investment markets and their decision to invest in cryptocurrencies is not driven by fear of missing out (FOMO), but by research and insight.”
BTC Markets also revealed that Bitcoin (BTC) and Ethereum (ETH) continued to be the most traded tokens on the BTCM platform in 2021, while Tether (USDT) emerged as a new entrant among the top five traded cryptocurrencies. The average value of trades executed on the platform increased by 48%, and daily orders increased by 42%. Additionally, the average volume of trades executed on the platform increased by 118%. According to BTC Markets, the significant growth is due to a greater number of investors recognizing the usefulness of cryptocurrencies.
Although individual investors make up the largest share of BTCM platform users, individual traders (196%), corporates (79%) and self-managed super funds (SMSF) (74%) performed better than retailers (66%). ) in 2021. SMSF’s investment size would have grown significantly, with initial deposits now in the hundreds of thousands instead of tens of thousands, and the average size of companies’ portfolios increased by 61%.
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