A cryptocurrency alternate survey discovered that cryptocurrency adoption continues to extend in Europe.
In line with Binance Square, excessive yield, decentralization, and innovation are key motivators for Europeans coming into the cryptocurrency market.
In whole, 10,498 individuals made up the pattern for the ballot. Contributors from France, Italy, Spain, and Sweden have been performed for the survey on the Binance Survey Platform between Oct. 14 and Nov. 8, 2023. Information obtained from interviews discovered assist for crypto overwhelmingly constructive, which whereas may be anticipated from the supply of the polling information, nonetheless reveals some bullish sentiment in the marketplace.
“The first drivers for mainstream adoption in Europe are excessive returns, decentralization, and innovation, in response to 20%, 18%, and 17% of respondents, respectively.”
Binance survey
The research additionally said that 55% of survey contributors use cryptocurrency for on a regular basis purchases and 10% make weekly cryptocurrency funds.
In line with a report from Crypto.com, in 2023, the variety of cryptocurrency customers worldwide exceeded half a billion. The corporate estimates that in 2023, the variety of cryptocurrency customers worldwide will enhance by 34%, from 432 million to 580 million individuals.
The Ethereum Shanghai replace performed a job in growing community exercise and the next enhance within the worth of ETH. In the meantime, the influence of non-fungible tokens (NFTs) launched to the Bitcoin blockchain in 2023 with BRC-20 tokens and Bitcoin Ordinals has additionally led to sturdy demand for Bitcoin block area.
One other driver of the expansion in cryptocurrency adoption has been the approval of spot Bitcoin approved 11 spot functions for Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Alternate Fee (SEC) on Jan. 10. The transfer added legitimacy to the business and instilled extra confidence out there.