BernsteinThe report published by FTXIt was intended to measure the trend of cryptocurrency users after its collapse.
Bernstein recently published the report of his study. In the published report, it was observed that users act according to on-chain data.
Bernstein Report: “Crypto Users on the Move”
BernsteinIn his report, he stated that users started to change their habits after the collapse of FTX and its sister company Alameda.
The report noted that more investors are storing cryptocurrencies in their own wallets rather than centralized exchanges, which is reflected in higher trading volumes for decentralized finance (DeFi) spot and derivatives trading platforms.
Analysts Guatam Chhugani and Manas Asrawal wrote that both revenue and the number of transactions have increased over the past 60 days. In addition, analyzing the on-chain data, the analysts wrote in the report that the activation data after FTX showed higher acceleration in user acquisition.
While Bernstein considers these earlier trends, he said the move to on-chain markets with greater transparency is a positive development in crypto’s journey to rebuild trust from customers and policymakers.
