<img src=”https://storage.googleapis.com/prod-zenger-upload/image/20230630/feat_66188c94-55b3-48a7-92bf-49ce7cbec13d.jpg” alt=” In this photo illustration a Binance logo seen displayed on a smartphone screen and an Exchange graph on a MacBook screen in Athens, Greece on March 21, 2023.About 63.5% of institutional players who took part in a Binance survey held an optimistic perspective on the cryptocurrency sector.Of the 208 participants, who are either institutional clients or VIP users of Binance, 88% anticipate a bright future over the coming decade.PHOTO BY NIKOLAS KOKOVLIS/GETTY IMAGES  “>

About 63.5% of institutional players who took part in a Binance survey held an optimistic perspective on the cryptocurrency sector.Of the 208 participants, who are either institutional clients or VIP users of Binance, 88% anticipate a bright future over the coming decade.

Dubbed the “Institutional Crypto Outlook Survey,” the report revealed that only 26.9% of the institutional users involved in the study believe that the wider adoption of cryptocurrencies will be propelled by an increase in practical real-world applications.

The study, conducted between March 31 and May 15, 2023, highlighted that 25.3% of the respondents regard regulatory transparency as a significant catalyst for the adoption of cryptocurrencies.

Participants also expect that the entrance of more financial entities, including crypto-supportive banks, into the space will be a major growth factor for the sector.

Other findings include:

“Interestingly, for funds with an AUM above $75 million, portfolio diversification surfaced as an additional motivation to invest in cryptocurrencies,” the report stated.

Produced in association with Benzinga

Edited by Asad Ali and Saba Fatima