From the end of 2019 to May 2020, the share of American professional investors in the cryptocurrency market rose from 87% to 92%, according to a new Chainalysis report.
The first preview of our upcoming Geography of Cryptocurrency report is here! Read our analysis of the North America cryptocurrency market, in which we explore the growth of institutional crypto investment from the region. https://t.co/Naf63tkNNz
— Chainalysis (@chainalysis) August 6, 2020
The United States ranks second in cryptocurrency transaction volume, behind only East Asia.
Over the past year, North American addresses accounted for 14.8% of all activity among institutional investors.
According to Chainalysis, 72% of professional investors in the United States prefer Bitcoin over other cryptocurrencies.
American investors move larger volumes of cryptocurrency than their European and Asian peers — from $1 million and up. The share of such transactions over the year rose from 46% to 57%.
According to Chainalysis, 72% of professional investors in the United States prefer Bitcoin over other cryptocurrencies.
According to Chainalysis, the new data indicate the emergence of cryptocurrencies as a standalone asset class, although the market is still underdeveloped and fragmented.
“We expect that as the understanding of the advantages of cryptocurrency transparency deepens, regulators and financial institutions will trust this space more,” the company added.
For details on how institutional investment in Bitcoin will affect the market, read ForkLog’s special report.
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