With every passing day, the situation of the cryptocurrency industry is deteriorating. So far, the year 2022 is proving to be one of the worst years for the overall cryptocurrency market.
It has been observed that the cryptocurrency industry has gained momentum from time to time. Still, the gains haven’t proven useful to the cryptocurrency industry and the situation is constantly worsening for the sector.
Due to the constant downtrend, the majority of the investors have started questioning the future of cryptocurrencies. At present, a lot of uncertainty is being felt throughout the investment community surrounding the future of cryptocurrencies.
For the crypto sector to make a comeback, it is very important that it is able to prove its worth. The crypto sector has to display its true potential before the investors start making huge investments.
However, as the cryptocurrency sector is not able to perform well, most of the investors are leaving the industry. They are now moving to other trading instruments such as forex, commodities, and stocks.
The US Retailers are Will Not Let Cryptocurrencies Go Down
Just when the overall atmosphere surrounding cryptocurrencies is uncertain, the US retailers have jumped in to save the day.
A recent survey shows that US retailers are not willing to let cryptocurrencies disappear. They are more than willing to let the cryptocurrency sector flourish and are ready to contribute extensively to the cause.
Merchants’ Survey Related to Crypto Adoption is Very Promising
Just recently, a survey was carried out among the merchants in the United States. The results from the survey were quite promising for the future of cryptocurrencies.
The survey inquired if the merchants are willing to incorporate cryptocurrencies as modes of payment at their stores and platforms. The survey results showed that 73% of the total merchants were willing to incorporate cryptocurrencies as modes of payment.
The merchants even specified that they would like to do it in the next three years. The survey also included merchants who are generating over $500 million worth of revenues.
It showed that more than half of such merchants are willing to invest in payment infrastructure for cryptocurrencies. These merchants confirmed that they have already invested at least $1 million in such infrastructures.
85% of Merchants Think Cryptocurrencies are the Future
The survey included 2,000 participants who are part of major retail firms in the United States and have executive designations. The executives were from different sectors that included digital goods, home and garden, hotel and leisure, electronics, cosmetics, and fashion businesses.
Out of the total participants, 85% of participants supported the possibility of cryptocurrencies being adopted globally as a mode of payment.
At present, the United States is the largest hub for cryptocurrencies. Therefore, the vast majority of the retail sector supporting cryptocurrencies provides huge security to the crypto sector.
The majority of the US retailers seem to be supporting major cryptocurrencies. These assets include DOGE, BTC, ETH, BNB, XRP, ADA, and many more. Therefore, the investors can change their orientation to the long-term to increase their gains in the next few years.