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Source: cision | Published on: Monday, 24 June 2024
DUBAI, UAE, June 24, 2024 -- Bybit, one of the world's top three crypto exchanges by volume, has released its Q2 Asset Allocation report, which covers the period from December 2023 to May 2024.
According to the report, as of May 2024, BTC remains the largest single asset held by all users, accounting for 26% of users' total assets in this leading cryptocurrency.
The data also reveals a declining trend in stablecoin holdings for all users, decreasing from 50.2% in December to 42.8% in May. Excluding stablecoins, 61% of users' crypto investments are allocated to BTC and ETH.
Similar to institutions, retail traders continue to show a preference for BTC over ETH, despite renewed optimism for ETH Spot ETFs. However, institutional positions in BTC and ETH have become more concentrated compared to those of retail traders, with holdings of 39.4% and 20.9% respectively, as of May.
Eugene Cheung, Head of Institutions at Bybit, said, "As a leading crypto exchange in the industry, Bybit continues to solidify its position as the preferred partner for institutions seeking a reliable and robust trading platform. Our commitment to providing deep liquidity, ensuring asset safety, and offering a capital-efficient account structure sets us apart. We remain dedicated to providing the highest quality service and support, empowering institutions to thrive in the dynamic world of digital assets."
The report also provides insights into altcoin holding trends and the leverage behavior among institutions and retail traders. Read the full report now here.
#Bybit / #TheCryptoArk
About Bybit
Bybit is one of the world's top three crypto exchanges by trading volume with 30 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions: the Oracle Red Bull Racing team.
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