Are you surprised today by the rising global crypto adoption despite the falling prices? Many today would have supposed that the global crypto adoption rate ought to have reduced drastically, given the series of crashes witnessed in the crypto industry in 2022. On the reverse, crypto traders seem much addicted to trading that no amount of sad news or shock witnessed at the market could easily deter them from trading.
On the other hand, new traders who missed the previous bull run in 2021 always consider each market dip as an opportunity to jump into the market. This has always been a boom in crypto adoption across the globe. Can traders ever give up entirely on the market? Is the current dip a good opportunity for more investors to , which measures the strength of the crypto market at large? This work has provided useful insights into these important questions about the Crypto market today.
What is Crypto?
The term Crypto has become the short form for the word cryptocurrency. The latter, as we know it, is used to describe all the digital assets that have been built on a blockchain, including Bitcoin, , Binance Coin, Cardano, Dogecoin, etc. Investors have been attracted to buying and selling these assets today as they provide an alternative means of wealth storage that hide their identity while carrying out transactions.
Why is Crypto adoption on the rise today despite the falling prices?
The rate of crypto adoption has increased massively in 2022. While the prices of the different Cryptocurrencies kept falling all through the year, with losing over 66% of its value in one year, one would have imagined that this crash in crypto prices would have hindered the rate of crypto adoption, but the reverse had turned out to be the case.
Almost all crypto exchanges today have recorded a massive increase in the number of new traders registered with the exchange this year. Binance exchange, for instance, recorded the highest growth in the number of new users trading with the exchange this year. Its users rose from 28 million recorded in 2021 to over 40 million users in 2022. The same holds for every other crypto exchange today.
Investors have rather seen the fall in Crypto prices as an opportunity to increase their portfolios. New traders, too, have further utilized the opportunity to join the train of crypto investment today.
The conviction among traders that cryptocurrency has come to stay and is set to become the future of money has caused a lot of investors to keep on holding on to their investments in Crypto amidst the massive fall.
Analysts, too, have often described the bear season as the best time for investing in crypto. Hence, many investors are currently optimistic that the prices of the various cryptocurrencies will rise again after the prolonged fall witnessed so far in 2022.
What is the best time for investing in crypto?
The best time for investing in crypto has always been the bear season, when the prices are largely discounted. Prices usually return to dust during the bear season, and many long-term investors looked up to catch the bottom of the dip during this period. New investors are often attracted to the market during this period, too, thereby providing enough liquidity needed to push up the prices of digital assets again.
Top 10 most traded Cryptocurrencies today
- Bitcoin
- Ethereum
- Litecoin
- Binance Coin
- Ripple
- Cardano
- Dogecoin
- Shiba Inu
- Matic
- Polkadot
List of best crypto exchanges for trading crypto today
- Binance
- BitPanda
- OKX
- Crypto.com
- Kraken
- eToro
- Gemini
- Bybit
- Kucoin
- Gate.io