New research shows fewer Australians are embracing cryptocurrencies (crypto) following the plunges in their value in 2022. However, the sharp fluctuations in prices have not deterred a proportion of the population from getting in deeper into crypto.
According to a new report by the digital currency exchange Independent Reserve, the Independent Reserve Cryptocurrency Index (IRCI), which measures the level of awareness, trust, confidence and adoption of digital currencies among the Australian population, dipped from 54 to 45 in 2022.
The drop reflected lower ownership rates, fewer people making profits, and a decline in confidence in the medium term as the prices of Bitcoin and other digital currencies fell dramatically from their 2021 highs….