Simplex: retail investors buy bitcoin due to price crash

by in Cryptocurrency News

Investors buy Bitcoin Simplex

Simplex payment processor said that during the fall of the price of Bitcoin last week, retail investors increased their cryptocurrency purchase volume by 50%. It is reported by The Block.

Bitcoin was the most popular asset among cryptocurrency buyers during March 12-14 it accounted for 59.6% of the total. Digital Gold was followed by the stablecoin Tether and Ethereum with 12.6% and 9.78% respectively.

Simplex CEO Nimrod Lehavi said that the downturn in the market has not weakened enthusiasm for the purchase of cryptocurrencies. In fact, it is obvious that many saw the recent fall as an opportunity to buy, and not a sign that the thesis about investments in cryptocurrencies has been refuted.

Related: Google Trends: “buy bitcoin” request jumped to record levels

Most of the service buyers in the indicated period were from Europe (33.29%). The activity was also shown by residents of Asia (22.3%) and the United States (16.57%).

At the same time, according to Simplex, processing partners, including Bitcoin exchanges, recorded a fourfold increase in crypto purchases these days.

The processing service has more than 120 partner organizations around the world. Among them, for example, are Bitstamp, KuCoin, Binance exchanges, as well as the popular wallet for Ethereum and ERC20 tokens MyEtherWallet.