The investor interest in the crypto sectors has not waned, despite cryptocurrences plunging amid the ongoing crypto winter. According to the Crypto Pulse survey conducted by Bitstamp, trust in cryptocurrencies remained strong in the second quarter of 2022.
The crypto exchange's survey, which was conducted by an independent research firm, involved 28,000 institutional and retail investors in 23 countries. "It's undeniable that many investors are using this winter to build a solid ground for crypto's next bull run," the report said.
Most polled investors in North and South America maintained their confidence in cryptocurrencies. Trust in crypto fell below 50% in Canada, but remained high elsewhere. On average, more than 68% of investors had trust in cryptocurrencies, with countries such as Brazil at 77%, Chile at 69%, and Mexico at 70%.
In the US, 61% of retail investors said they invested in cryptocurrencies in the second quarter of 2022, a 44% increase. In Q1 2022, only 42% of investors bought crypto.
Across the US and Canada, 44% of retail respondents felt they did not know enough to get started with crypto.
69% of institutional investors in the US are actively recommending crypto to their clients, In Mexico, 78% of institutions are recommending cryptocurrencies, followed by Brazil at 72%, and Argentina at 71%.
On the other side of the Atlantic, the number of retail investors in the UK and Europe that regarded crypto as a trustworthy investment fell to 52% from 54%, with numbers varying from country to country.
Globally, the total number of retail investors with trust in crypto decreased slightly to 65% in Q2 2022 from 67% in the previous quarter. Similarly, the number of institutional investors which had confidence in crypto declined to 67% from 70% in the previous quarter.
Overall, retail investors have increased their investments in cryptocurrencies, with the number of people trading crypto daily or weekly increasing to 60% in Q2 from 56% in Q1. One in four institutions also said they plan to make crypto a primary source of investment.
The crypto industry has held up remarkably well during the major market correction.