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A cryptocurrency exchange survey found that cryptocurrency adoption continues to rise in Europe.
According Binance SquareHigh performance, decentralization and innovation are key motivators for Europeans to enter the cryptocurrency market.
In total, 10,498 people constituted the survey sample. Participants from France, Italy, Spain and Sweden took part in the survey on the Binance survey platform between October 14 and November 8, 2023. Data obtained from the interviews found that support for cryptocurrencies was overwhelmingly positive, which That though might be expected from the source. from the survey data, however, reveals some bullish sentiment in the market.
“The main drivers of widespread adoption in Europe are high profitability, decentralization and innovation, according to 20%, 18% and 17% of respondents, respectively.”
Binance Survey
The study also indicated that 55% of survey participants use cryptocurrencies for daily purchases and 10% make weekly payments in cryptocurrencies.
According crypto.com/wp_media/2024/01/crypto-Market-Sizing-2023.pdf” target=”_blank” rel=”noopener”>a report from crypto.com, in 2023, the number of cryptocurrency users worldwide will exceed 500 million. The company estimates that in 2023, the number of cryptocurrency users worldwide will increase by 34%, from 432 million to 580 million people.
The ethereum Shanghai upgrade contributed to the increase in network activity and the subsequent increase in the value of eth. Meanwhile, the impact of non-fungible tokens (NFTs) introduced to the bitcoin blockchain in 2023 with BRC-20 tokens and bitcoin Ordinals has also generated strong demand for bitcoin block space.
Another driver of growth in cryptocurrency adoption has been the approval of 11 bitcoin spot applications for bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) on January 10. . The move added legitimacy to the industry. and instilled more confidence in the market.
