Bank of America reported a mass exodus of users from the crypto industry

Bank of America, one of the largest financial institutions in the United States, has calculated how many active users of cryptocurrencies remain today. According to the organization's report, during the observed crisis period the industry has lost more than 50% of the audience.

For the starting point in Bank of America took November of last year, when the maximum value on the number of active users of digital currencies was fixed. If during that period, it reached nearly 1 million, now it does not exceed 500 thousand, stated in the organization.

In addition, it was found that the share of newcomers in the industry, that is, those who make transactions using cryptocurrency for the first time, has fallen by almost 90%. This time, for comparison, the bank took the peak in October with its 267 thousand new users and May, when just over 30 thousand new customers came to the exchange.

At the same time, people are in no hurry to leave crypto-platforms. The rate of user churn has also fallen and equaled the inflow. Based on this, the Bank of America concluded that people have simply decided to reduce their investments in cryptocurrency projects for now. In parallel, the organization claims that consumers are still interested in investing in digital assets.
Interview

07-07-2022

Brooke Greene

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