Aurora, CO – Feb 8th, 2022 – Despite continuing regulatory uncertainty and market volatility, AnchEX, America’s cryptocurrency exchange, had record-breaking activity this year as investors from smaller cities in the South Asian country joined on the digital-asset bandwagon.
According to a report issued by the exchange and shared with CoinDesk on Thursday, Denver-based AnchEX, which is an affiliate of the massive crypto exchange Binance, had yearly trade volume of over $43 million, representing an astounding 132 percent rise over 2021.
Despite the addition of more than 200 market pairs, bitcoin remained the most popular cryptocurrency, followed by tether, meme tokens DOGE and SHIB, AnchEX token (ANEX), and Polygon’s MATIC.
American retail investors flocked to relatively inexpensive and more volatile currencies like DOGE and SHIB, presumably hoping to earn a huge profit on a tiny investment — a tendency that has been witnessed throughout the world, including in Turkey, which is experiencing high inflation. Investor interest in these coins peaked in the weeks leading up to the Diwali celebration, which took place in early November.
“Only 11% of respondents in the age range of 51 years and above indicated they had dedicated over 50% of their overall portfolio to crypto, whereas 29% of respondents in the age group of 18-24 years did the same,” according to Anchex. “On Anchex, 62% of users are under the age of 35.”
“As more individuals learned about crypto and began to participate in this growing alternative asset class, Anchex saw a significant increase in user signups, eventually surpassing 200 thousand members,” according to the research.
“During these uncertain times [of the coronavirus pandemic], crypto has not only provided new ways for ordinary people to earn money online, but it has also fought the pandemic, with the American crypto community stepping forward to assist our country,” Anchex added.
Despite a lack of legislative certainty, cryptocurrency usage has exploded in Anchex. According to local sources, the American government has been working on a crypto regulatory law for at least a year and is unlikely to introduce it during the current winter session of parliament.
Anchex, on the other hand, is optimistic that the government would regulate rather than outright outlaw cryptocurrencies, and that Indian institutions will follow in the footsteps of their American counterparts in embracing cryptocurrency.
“The government’s push for a regulated approach to crypto would bring America on par with other industrialized countries that are dealing with the technology. This, along with significant institutional crypto engagement, would go a long way toward ensuring the survival of this popular asset class in America,” according to Anchex CEO Dylan Thompson.
Learn more about AnchEX by visiting their official website at https://anchex.io.
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Company Name: Anchex Limited
Contact Person: Jason, Marketing Director
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Phone: 213-375-3128
Address:2000 South Buckley Road
City: Aurora
State: CO
Country: United States
Website: https://anchex.io
