In this somewhat early crypto update, today we look at the live Bitcoin price and the current prices of the top 25 crypto. Then we look at a European survey on how EU residents are investing in Bitcoin and crypto.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto rise
At the time of writing, the live Bitcoin price is quoting EUR 28,028.17 ($29,603.60). This is 1.77% higher than yesterday around dinner time and also a fraction (0.02%) higher than during our crypto update we published late last night.
The prices of the top 25 crypto are also mostly positive at the moment. Apart from some stable coins, Solana (SOL) and Avalanche (AVAX) are the only crypto coins posting red figures at -2.20% and -0.74% respectively. The biggest gain of the day up to the time of writing is still for Monero (XMR) with +5.48%. Of course, you can also analyze all live crypto prices tonight and after the close of the US market at our colleagues at Tradeincrypto.com.
EU publishes crypto research
Much of the information on Bitcoin and crypto trading focuses on the US market. Therefore, it is interesting to see information on crypto trading in Europe. We are at our beck and call. Indeed, as part of its May Financial Stability Review, the European Union released a study on crypto trading in Europe. We dive into some notable facts.
Dutch people invest the most in crypto
The research shows that the Dutch have the largest group of crypto investors. Over 14% of Dutch households invest in crypto in some way. This while the average in Europe is just under 10%. Of the major countries, France is the most modest. Only just over 6% of households are active in crypto.
How much money do European investors invest?
Most owners keep their investments modest. By far the largest group (66%) of investors invest less than EUR 5,000.00. Slightly more than half of this group keeps crypto investments even below EUR 1,000.
28% of those surveyed invest between EUR 50,000.00 and EUR 30,000.00. Only 6% of those surveyed invest EUR 30,000.00 or more.
Wealthy Dutch invest the most in crypto
When this data is linked to income, a u-pattern emerges, with high and low income earners investing more in crypto than middle income earners. Most investors are found in the group with the highest incomes. What is striking about this is that the rich Dutchman holds much more crypto than any other rich European.
The profile of the crypto investor is young, male and highly educated. In this regard, it does not matter if the education is financial. Among the investors in the profile we see both investors with high and low financial education.
DeFi platforms under EU supervision?
In the study we further find an overview of Defi loans. In it we see an interesting statistic, which shows that the interest rate on Defi platforms, although decreasing over time, is still much higher than the deposit rate (the interest rate the ECB offers banks to deposit money). Where the ECB offers just over 0.2%, interest rates on the various DeFi platforms range from just over 2% (Ethereum) to 6% (Tether).
Incidentally, there is also a warning in the report (just above chart B.4). Indeed, the EU indicates that their supervision of (crypto) lending and the legislation around it is independent of the technology used. It then advises DeFi platforms that want to operate in Europe to comply with EU financial regulations in order to avoid prosecution.
Incidentally, this study was conducted primarily to see if and where crypto-regulation is needed. We now know that the European Central Bank is certainly advocating that. We also know that the crypto community is now responding to that in a clear and definite way.
Of course, you can read the entire crypto section from the May 2022 Financial Stability Review.
Want to stay up to date on the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”