65% of cryptocurrency investors are HODLers! Exchanges shake off lawsuit shadows, with a 14% growth in June.

Two research reports from Broadridge and CCData reveal the current status of investors in the crypto market and centralized exchanges (CEXs).

Over Half of Investors Profit Through Centralized Exchanges

According to a study released by fintech company Broadridge on Tuesday, targeting 2,000 people in the United States, Canada, and the United Kingdom, up to 65% of respondents view cryptocurrencies as a "long-term investment." The remaining investors who engage in periodic trading, holding, or using cryptocurrencies for payment purposes do not exceed half, indicating that some investors hold cryptocurrencies for the long term rather than for short-term speculation.

Moreover, as a veteran and most popular cryptocurrency, over 70% of respondents include Bitcoin in their investment portfolios, while other assets related to stablecoins, NFTs, and government-issued cryptocurrencies show relatively fewer holders, around 20%.

Notably, more than half of investors prefer to earn profits from centralized exchanges (CEX) rather than from decentralized exchanges (DEX) and mining, highlighting the importance of CEX and the thriving ecosystem of referral bonuses promoted by current cryptocurrency key opinion leaders (KOLs), albeit with potential security concerns.

Furthermore, media reporting on cryptocurrency news is the primary source of information for respondents, with about 40% regularly checking related websites, followed by Twitter.

However, it is concerning that whitepapers, which are essential for understanding cryptocurrency projects, have a relatively low usage rate among respondents, with just over 20% reviewing them before investing. Most rely on monitoring financial conditions or the team behind the project as their basis for entering the market.

Significant Increase in Centralized Exchange Trading Volume in June Compared to Previous Month

According to a research report cited by Cointelegraph from CCData's study, the spot and derivative trading volume of CEX increased by 14.2% in June, reaching $2.71 trillion. The market shares of exchanges Binance, Binance.US, and Coinbase, which are facing SEC lawsuits, have all significantly decreased over the past month by 1.4%, 0.8%, and 0.08%, respectively.

Despite facing net outflows of $770 million on the day of the lawsuit, Binance remains the top choice for cryptocurrency derivatives, with a trading volume exceeding $1.21 trillion in June. Following Binance is OKX, with a trading volume of $416 billion, benefiting from an influx of users due to Binance's legal issues, resulting in a 44.9% increase in activity.

However, official data may still involve illegal activities such as wash trading and behind-the-scenes trading bots, so it is advisable to compare data from multiple sources to increase data accuracy.

The report also explains the increase in trading volume in June, speculating that the SEC's lawsuits against cryptocurrency exchanges Binance and Coinbase, as well as the favorable news of the BlackRock Bitcoin ETF proposal, led to multiple news causing high price volatility, resulting in the first increase in trading volume in three months:

In the past few months, the growth in Bitcoin futures trading volume has highlighted increased trading activities by large institutions, as the market speculates on the SEC's views and decisions regarding multiple current spot Bitcoin ETF proposals.