According to a recent survey conducted by Binance, over 60% of the cryptocurrency exchange’s institutional investors are optimistic about the prospects of the crypto market in the next 12 months. The survey, which involved 208 institutional clients and “VIP users” of the global crypto exchange, took place between late March and mid-May this year.
The results revealed that more than 63% of the respondents expressed optimism about the crypto market over the next year, with an overwhelming 88% feeling positive about the sector over the next decade. Additionally, the survey found that nearly 45% of Binance’s institutional investors utilize cryptocurrencies for intraday trading strategies, marking it as their primary use case.
When evaluating the importance of various sectors within the crypto ecosystem, the respondents ranked “infrastructure” as the most crucial sector, followed by layer-1s and layer-2s. This indicates a strong emphasis on the underlying technological foundations of cryptocurrencies.
Interestingly, Binance’s institutional investors have developed a more positive perception of Bitcoin (BTC) compared to the broader crypto market over the past year. While the perception of crypto and Bitcoin remained relatively stable, a larger proportion of investors became more positive towards Bitcoin (47.3%) compared to the rest of the crypto sector (33.2%). Binance speculates that this shift in sentiment could be attributed to recent market developments, technological innovations within the Bitcoin ecosystem, or a growing conviction in Bitcoin’s narrative as digital gold amidst global uncertainties.
The survey results indicate a prevailing sense of optimism among Binance’s institutional investors regarding the future of the crypto market, with a notable focus on Bitcoin and the significance of crypto infrastructure.
