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51% of Crypto Investors in Saudi Arabia Optimise Crypto Future, KuCoin Study Shows

Nearly 3 million citizens in Saudi Arabia have entered the crypto space over the past six months, according to a study by KuCoin.

To explore the adoption and penetration of cryptocurrencies in Saudi Arabia, crypto exchange KuCoin released an “Into The Cryptoverse Report”. The study unravelled sustainable interest among crypto investors in Saudi Arabia. Per the report:

Over the last six months, 14% of the adult population entered the crypto space by either trading digital assets or owning them. Furthermore, 17% of adults depicted crypto curiosity and were likely to invest in cryptocurrencies in the next six months.

Despite the onset of the bearish market in the second quarter of this year, some crypto owners in the nation still showed confidence in their investments. The study also highlighted:

“In the second quarter of 2022, 31% of crypto owners in Saudi Arabia said that they would keep their crypto balance as is rather than increase their investment.”

SOURCE

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