Data from OKEx partner analytics firm Cattalact has revealed that retail investors’ interest in Bitcoin exceeds that of institutional investors. The data insight showed that retail investors purchased more BTC than institutions during the increased crypto market FOMO.
Although institutional Bitcoin investors have invested hugely in the crypto asset, retail traders are major factors fuelling the rise in BTC price.
According to the data, the number of retail investors holding Bitcoin has significantly increased. Also, the report said that these retail investors are hodlng and not selling their BTCs, resulting in a drop in transactions across retail.
JPMorgan said that retail investors had purchased more than 187,000 coins in the first quarter of this year. The acquired BTC by retail investors is an increase over the 172,648 coins bought by institutions. The report cited fund flows, CME Bitcoin futures positions, and company announcements as the source for the data.
At the time of writing, Bitcoin is up 1.16% to $54,775.53. Bitcoin currently boasts of a market value of over $1 trillion.
Based in Seychelles, OKEx is known for offering various crypto-related products and services. The platform is famous for its exchange and DeFi trading service, educational tools, and more.