Many traders are adopting a long-term holding strategy as the crypto market evolves, especially with the looming approval of Bitcoin ETFs (exchange-traded funds) on the horizon.
A recent survey unveiled a comprehensive outlook on how crypto traders navigate the market. It shed light on trading behaviors, motivations, and the broader perspective of traders.
HODLing Ahead of Bitcoin ETF Approval
The survey reveals that most respondents (63.8%) engage in trading on centralized and decentralized exchanges. It showcases a balanced trust in different trading platforms. Interestingly, a small fraction (10.3%) of the respondents could not discern the types of exchanges they were using.
This data underscores the blend of expertise and the learning curve that exists among crypto traders.
A notable insight is that incentives provided by DeFi projects significantly influence 62.1% of respondents to engage in DeFi trading. Other motivating factors include the potential for high returns (59.8%) and access to a wide range of tokens (52.1%).
These incentives, coupled with the broader potential of DeFi, are driving engagement and shaping trading behaviors.
One of the core aspects highlighted by the survey was the respondents’ preference towards long-term holdings. 64% of the respondents endorsed this strategy, which aligns with the growing anticipation of the approval of Bitcoin ETFs.
Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know
The holding strategy, commonly called “HODLing” in the crypto market, reflects a long-term optimistic outlook toward the potential growth and mainstream adoption that Bitcoin ETF approval could usher in. This approval is perceived as a significant stride towards melding traditional finance mecha
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Author: Bary Rahma
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