what fans say about bitcoin and cryptocurrencies

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The non-fungible ether (NFT) market continues to decline in a bear market. So much so that most cryptocurrency enthusiasts like Bitcoin (BTC) reject these digital creations, which are often worth thousands or millions of dollars.

This is according to a survey by decentralized cryptocurrency exchange Dexter Lab. The company used a tool from the Twitter social network to gain impressions of the NFT market, especially during this time when cryptocurrencies are facing a falling price crisis. It should be noted that the detail of the size of the census population is never provided.

According to DexterLab, 31.7% of the cryptocurrency users surveyed would never buy a collectible Eton, while only 26.8% of the respondents would.

In terms of interest in the technology, the company noted that searches for the word NFT dropped significantly in 2022.

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DexterLab also highlights the insecurity of the respondents. The survey results showed that more than half of respondents (53.5%) feel uncomfortable trading NFTs in the midst of a bear market for cryptocurrencies or in the winter. However, according to the company, 46.5% feel confident.

The study also shows that more than half of respondents (51.5%) would not invest in NFTs in a bear market. Conversely, 35.2% of respondents are quite willing to pay cash for one of these digital collectibles.

Knows the newcomers in 2022

Despite the numbers in red, DexterLab also notes that more individuals – or institutions – have purchased NFTs for the first time this year.

Overall, according to DexterLab, the first 24.4% increase this year was due to investors in irreplaceable aethones. Remarkable, especially when compared to the 17.1% recorded in 2021 or earlier, according to this data firm.

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This is in line with Chainalysis estimates that the non-fungible Eton trade could be boosted as large corporations adopt NFT in anticipation of the arrival of the metaverse.

In any case, according to DexterLabs, this could mean that NFTs could follow the same path of adoption already taken by other technologies. Therefore, in his opinion, it is likely that “more people will enter the world of irreplaceable Eton”.

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