Gemini: Crypto retail market is expected to rebound

Crypto trading platform Gemini said in its "Global State of Crypto 2024" report on Tuesday that despite some major headwinds, crypto adoption in the United States and the United Kingdom has remained stable in recent years, and the retail market now looks ready to rebound. The report is based on a survey of 6,000 people in the United States, the United Kingdom, France, Singapore and Turkey, and was conducted online from May 23 to June 28 this year. The report said that cryptocurrency adoption rates in the United States and the United Kingdom remained largely unchanged from 2022 to 2024, at 21% and 18%, respectively. Over the same period, digital asset ownership in France rose from 16% to 18%, while digital asset ownership in Singapore fell from 30% to 26%. Gemini said that nearly two-thirds of respondents said they held cryptocurrencies because of their long-term investment potential, and 38% said they held the asset class to hedge against inflation.