Over the past year, global approvals for registered assets such as exchange-traded products, legislation enacted, and increased interest in tokenized assets have demonstrated continued growth and development in the digital asset market.
📊According to a recent survey conducted by the EY-Parthenon team, 94% of institutional investors and 83% of retail investors stated that they have long-term confidence in digital assets. Among them, 54% of institutional investors and 64% of retail investors plan to increase their allocation, which means that the amount of investment will increase significantly in the future.
📋The survey also shows that 72% of retail investors believe that digital assets are a core part of their overall wealth strategy. They want existing wealth and estate planning, tax and trust and advisory services to cover cryptocurrencies and digital assets. Data shows that 71% of investors have or plan to seek advice from a financial advisor or planner regarding their cryptocurrency holdings, and 85% are interested in incorporating cryptocurrencies and digital assets into wealth and estate planning.
🔗According to the second quarter financial report of 2024 released by Tether, Tether created a record high profit in the first half of 2024, reaching US$5.2 billion, of which net operating profit was US$1.3 billion. This result marks Tether’s best performance ever. In addition, the amount of U.S. Treasury bonds held by Tether exceeded $97.6 billion, which also hit a record high. The total circulating reserves of Tether tokens are $118.4 billion, while the company’s total liabilities are $113.1 billion, of which $112.4 billion is related to the digital tokens issued.
💡Personal opinion:
Tether’s outperformance and USDC’s growth show that the stablecoin market still has huge potential for development. As the regulatory environment becomes clearer, institutional and retail investors have become more confident in digital assets. This not only promotes the maturity of the market, but also brings more choices and security to investors. In the future, with the introduction of more innovations and the participation of established companies in the financial industry, the digital asset market will usher in broader development prospects.
