Information Technology
Crypto Investors Remained Resilient During Market Downturn, Gemini Report Finds
The consistency in ownership is due in part to crypto owners' attitudes toward the asset class. Nearly two in three crypto owners across these geographies (65%) report buying and holding cryptocurrency for its long-term investment potential, and nearly two in five (38%) hold cryptocurrency as a hedge against inflation.
On November 14, 2022 , the combined value of the top 100 cryptocurrencies had
dropped to
$830 billion , down from
$2.7 trillion the year earlier. In 2024. The number of past owners rose slightly in each geography, suggesting that some crypto owners left the market during the downturn. However, more than 70% of past owners report a potential return to the market.
Other key findings include:
"Crypto investors have proven their resilience over numerous market cycles throughout the years, and the latest downturn was no exception," said
Marshall Beard , COO at Gemini. "The introduction of spot crypto ETFs in
the United States and the significant headway towards thoughtful regulation in many jurisdictions globally has positioned the industry for strong growth as retail investors rejoin the crypto market or get started for the first time."
The countries surveyed in the 2024 State of Crypto study were selected because they are nations where Gemini either currently operates or is exploring operations in the future. In addition to
the United States ,
United Kingdom , France , and
Singapore , Gemini also surveyed Turkey for the first time this year.
Turkey is overwhelmingly positive toward crypto, with the majority of respondents (58%) reporting owning crypto. An even larger majority of both owners and non-owners (65%) said they were likely to purchase crypto in the next year. Crypto owners in Turkey were significantly more likely to actively trade crypto (62%) compared to owners in other countries surveyed (43%).
The 2024 Global State of Crypto report is based on a survey conducted with 6,000 adults across the US, UK,
France , Singapore , and
Turkey . The survey was conducted online between
May 23, 2024 and June 28, 2024 on behalf of Gemini by Data Driven Consulting Group. The total sample has been balanced and is generally representative of the adult population in each country ages 18 to 75 with household incomes of $14,000 USD or more. Data cited in the report as "2022" was from a survey conducted online between
November 23, 2021 and February 4, 2022 , also on behalf of Gemini by Data Driven Consulting Group.
Gemini is a global crypto and Web3 platform founded by
Cameron and Tyler Winklevoss in 2014. Gemini offers a wide range of crypto products and services for individuals and institutions in over 70 countries. Gemini's simple, reliable, and secure products are built to unlock the next era of financial, creative, and personal freedom.
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