SharesPost, a regulated ATS and global security token platform, has just published some research on the cryptocurrency market. SharesPost polled 2,490 consumers and 528 individual accredited and institutional investors to create the report.
According to their data, even as cryptocurrency valuations have plummeted during 2018, consumers and investors continue to hold a bullish, long term outlook for both cryptocurrency and Blockchain in general. At the same time, investors are less optimistic about near-term cryptocurrency trends.
- 59% of investors and 72% of consumers plan to increase their crypto holdings over the next 12 months. The majority of respondents expect valuations to increase though investors are less bullish than in a previous survey. 57% of investors and 66% of consumers expect growth in crypto valuations over the next year.
- Bitcoin is the most popular crypto followed by Ethereum, XRP and Litecoin. Respondents believe these three currencies offer the most potential for long term success. Positive investor sentiment for Bitcoin grew to 78% from 48%.
- Investors and consumers tempered expectations for widespread adoption of crypto as the percentage of investors who think crypto will go mainstream in 2020 dropped to 27% from 51%; 37% from 42% among consumers.
- 55% of investors and 57% of consumers picked lack of understanding as the top challenge for crypto while half of both investors and consumers believe lack of effective use cases as their primary concern.
- Coinbase is the most popular exchange, followed by Kraken and Bittrex.
- Both investors and consumers are bullish about blockchain disrupting money transfer, payments, and asset management sectors. Over 58% of investors and 55% of consumers think blockchain will first strike money transfer.
So is this research a bit of preaching to the choir? Perhaps, as it is not clear how the data was sourced. But the information provided indicates that the surveyed population are backing off on the initial crypto euphoria – at least in the near term. It will be interesting to see the next SharesPost survey.
The report is available for download at SharesPost once you register with the site.