KuCoin Into The Cryptoverse Reveals Increase In Number of Saudi Arabian Crypto Investors Adopting Auto-trading Strategies in Bearish Market

KuCoin has released the results of its Into The Cryptoverse report exploring the penetration and adoption of digital currencies in Saudi Arabia. As of May 2022, around 3 million Saudi Arabians, which account for 14% of the adult population aged 18 to 60, have become crypto investors. The survey also reveals that another 17% of adults are considered to be crypto-curious and are likely to invest in cryptocurrencies over the coming six months. The report’s findings highlight sustainable interest among potential crypto investors in the Arab country. The onset of the bearish market in the second quarter of 2022 saw a reversal of investor sentiment toward more conservative strategies related to the holding of cryptocurrencies. The high proportion of new market entrants is unique to Saudi Arabia, as 76 Source