2 Trillion Dollars From The Capitalization Of Markets, Investors And Crypto Asset Traders In Indonesia Not Kapok

Illustration of Cryptocurrency. (Photo: Pexels/Worldspectrum)

JAKARTA - Cryptocurrency or crypto assets hit cold season throughout 2022. The price of crypto assets fell drastically, causing a number of investors and traders to lose a lot.

In fact, reportedly, two trillion dollars worth of funds disappeared from market capitalization. However, investors and crypto asset traders in Indonesia remain optimistic.

The data is the result of a survey of trading platforms and investing in crypto assets, Tokomy and Indodax. They released a report on crypto investors in Indonesia this year which is the result of an analysis from a survey conducted in September.

VP of Growth Tokomy Muhammad Ikhwan revealed that the survey results stated that 82 percent of respondents believed that crypto assets were a future investment. In fact, according to data, 1 in 5 respondents believe crypto investment is better than other traditional investments.

"Although 2022 marks a new crypto 'winter', which amounted to 2 trillion dollars has disappeared from market capitalization," said Ikhwan, as quoted from Antara, Saturday, November 19.

There are several crypto assets that investors are interested in. A total of 10 crypto assets are most popular with crypto investors in Indonesia in 2022 according to survey results: BTC, ETH, BNB, DOGE, USD stablecoin, TRX, SHIB, ADA, XRP, and LTC.

The results of the survey report also show the persistence of investors in Indonesia in investing or trading crypto. As many as 88 percent of respondents said they would increase their crypto investment in the next month.

"If we look further, even respondents who claim to be in a loss position, the majority also want to increase their crypto investment," said Ikhwan.

Although the global adoption of crypto assets is still a long way off, 71 percent of respondents agree stablecoins are the future of payments.

As many as 75 percent of respondents also believe in the future of the Central Bank Digital Currency (CBDC). Even 61 percent of respondents said they wanted to use stablecoins to send money to friends and family.

For the adoption of Decentralized finance (DeFi), 1 in 3 respondents had traded on the DEX platform, but only 1 in 8 respondents had used DeFi loan services.

Circumventing to the Non-Fungible Token (NFT) market, as many as 31 percent of respondents stated that they had sold NFT, and only 20 percent of respondents said they were not interested, while 48 percent who had never penetrated NFT showed interest in NFT in the future.

Ikhwan also mentioned that large investor confidence and expectations against the future of Bitcoin and crypto assets could push back the sentiment of rising or bullish crypto markets in the future.