Survey Finds 64% Believe Crypto Market Has Bottomed Users Bullish On Stablecoins, NFTs, Metaverse

Web3 venture capital fund TK Ventures and Coinwire recently released a reportshowing that the majority of 10,000 crypto investors believe that the market has reached its bottom, that stablecoins are an important part of the ecosystem, and that NFTs and the metaverse will continue to change the world.

The report titledCrypto Report 2022: Industry Overview & Trends included the following key findings:

  • 64% of investors think the market is nearing its bottom, but 43% keep the majority of their portfolio in stablecoins.
  • 59% of investors believe that stablecoins are a necessary part of crypto, despite the collapse of the algorithmic stablecoin.
  • Most investors (53.6%) agree that the crypto market will be recognized by financial institutions and governments.
  • Ethereum ETH/USD, BNB Chain BNB/USD, and Polygon MATIC/USD are the blockchain platforms most used by investors.
  • Investors are most confident that BNB Chain (57%) and Polygon (46.8%) will reach mass adoption in the next year.
  • Even after the collapse of FTX FTT/USD, 53.6% of crypto investors still use hot wallets.

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NFTs and the metaverse have continued to push the boundaries of digital ownership with new investments and projects despite the gloomy market. Findings relating to NFTs and metaverse include:

  • NFTs ownership has increased 250%, from 1.5 million to 3.7 million.
  • 80% of NFT holders believe in the future of NFTs, despite the rocky market since 2022.
  • People believe the metaverse will change our approach to entertainment (69%) and social activities (65%).

Meta, formerly Facebook, has invested nearly $20 billion in two years in developing its metaverse platform, with the stated goal of providing a place people could meet, work, and go to important appointments. Recently, Microsoft also announced its plan to focus on Microsoft Mesh, a place to support immersive experiences for users.