Consumer resilience in crypto

While the data displayed trust erosion, consumers display resilience in their crypto activity, and continue to engage with crypto – albeit with a new set of priorities. If the first wave of industry growth was fuelled by FOMO and speculative engagement, then the second wave will be fuelled by true utility and due diligence. 

None of us in the crypto ecosystem would have hoped for anything like the shocks that precipitated in 2022. These shocks, however, come with silver linings. Consumers have a stronger, more rigorous perspective in their crypto dealings, and holding their providers to account will only serve to strengthen the utility and compliance of the ecosystem as a whole. We’re beginning to observe a ‘phoenix’ effect: after many players have perished in a sector-wide blaze, the industry rising from those ashes is shaping up to be stronger with stronger foundations.