Although many believe retail investors have exited the cryptocurrency market, that is not the case. Bitget's Chief Operating Officer Vugar Usi Zade stated that they are just changing their strategy.
At the Consensus conference in Toronto, Usi Zade explained that retail trading has shifted from frantic speculation to more practical and sustainable use cases. He partially attributes this shift to the influence of the previous market cycle and macroeconomic uncertainty.
Retail investors' risk appetite has decreased as turmoil in areas like the stock market has reduced disposable income, leading them to invest more wisely.
Bitget is expanding into crypto payments and utility services to accommodate this behavioral change, including Bitget Pay and stablecoin solutions.
The bear market that followed the bull market in 2021, along with high-profile collapse events, prompted users to seek safer and more functional crypto asset applications.
Usi Zade also emphasized the importance of decentralized exchanges (DEXs), which attract users looking to acquire tokens not yet listed on centralized exchanges.
According to CoinMarketCap data, as of May 31, Bitget has become one of the largest cryptocurrency exchanges in the world, with an average daily trading volume exceeding $3.4 billion.
The era of large-scale bull or bear markets is over.
Usi Zade believes that the traditional cycle of market booms and busts may have ended, and in the future, the market will experience short-term phases of 'bull markets' and 'bear markets'.
Bitcoin has become a unique presence in the cryptocurrency industry, bringing both opportunities and risks for investors, attracting more institutional investors to participate.
