On 12th December 2022, JPMorgan Chase, one of the largest bank in the U.S. have released an research report disclosing rise in the number of American holding cryptocurrencies. The bank has studied about the transactions of around the 5 million consumers involving in the crypto industry by analyzing surveys. Further, the research showed that approximately 13.0% of Americans had held the crypto tokens until 2022. Before COVID-19 pandemic, crypto industry had only 3.0% crypto related accounts. However, this figure seen staggering rise of 13.0% in the next two years, because of which crypto market reached its high peak of $3.0 Trillion market cap in the November 2021.
The survey also asked whether some demographic groups are more likely to buy cryptocurrencies than others. It was shown that younger people buy far more cryptocurrency than older people, and that men of all ages purchase the cryptocurrency substantially more than women. According to the survey, more than 25% of millennial men and just about 12% of millennial women and 5% of male baby boomers had bought cryptocurrencies. In North American countries such as U.S. and Canada, there is a huge craze and fud amongst millennials. Thus, it is very evident that all these people have been a part of crypto crash, with some have lost significant amount of money while some have earned.