A report by leading cryptocurrency exchange KuCoin reveals that 27% of U.S adults are now invested or have traded cryptocurrencies in the last six months.
What Happened: KuCoin in a report titled "Into The Cryptoverse" provided insights into the growing cryptocurrency market in the United States.
The report didn’t specify which digital coins are most popular among U.S. adults, but on-chain data shows that Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are the most prevalent cryptocurrencies worldwide.
Retail Interest Growing: Over half of those surveyed who claimed to have invested in cryptocurrencies also said they doubled down on their investments in the second quarter this year, which suggests retail is buying the dip.
More than half of these investors also plan on increasing their investment size over the next six months, the report said.
The top reason for buying cryptocurrencies? They believe digital assets are the “future of finance.”
KuCoin reports that 68% of cryptocurrency investors are actively learning about the sector on social media.
Gender Gap Narrowing: While the cryptocurrency space has been male-dominated since its inception, KuCoin's report shows that the gender gap is steadily diminishing, and the share of female investors is on the rise. The proportion of females in cryptocurrency is at 35% in the second quarter, up 5% sequentially, as per the report.
KuCoin CEO Johnny Lyu said hiring female talent and educating the public on cryptocurrencies was one way to further this cause.
“Many major industry players have up to 30%-40% of women in the company structure and hire women for senior positions. This is the trend we need to develop to inspire more women to enter the industry," he said.
"It is also important to promote educational initiatives telling women that cryptocurrencies are not just speculative instruments, but have numerous real-life financial applications.”
Launched in September 2017, KuCoin is a global cryptocurrency exchange based in Seychelles. It offers investors a suite of trading features, with commitments to inclusiveness and community action reach. KuCoin recently raised its per-Series B round and secured $150 million in investments, valuing the company at $10 billion.
