Robinhood Executive: As Market Pulls Back, Investor Allocation Shifting from Top Assets to More Broadly-Based Coins

BlockBeats News, February 22nd, according to Cointelegraph, Robinhood's crypto business lead Johann Kerbrat stated that amid the ongoing market pullback, platform users have not stopped trading. Instead, they see it as a "buy the dip" opportunity, expanding their investment focus from the top two cryptocurrencies to a wider range of coins.

Kerbrat pointed out that investors are increasing their diversification efforts, not only focusing on Bitcoin and Ethereum but also exploring other top assets, indicating a growing acceptance of the cryptocurrency asset class and its volatility.

Currently, CMC data shows that the Altseason Index is at 33 (out of 100), still in "Bitcoin Season," indicating that overall funds are still leaning towards Bitcoin.

Furthermore, Kerbrat also mentioned that since the launch of the staking feature in December last year, platform staking participation has significantly increased, and some users have started exploring DeFi applications. Meanwhile, the U.S. spot Bitcoin ETF has seen five consecutive weeks of outflows, with a total outflow of about $3.8 billion, and the crypto market sentiment remains in the "extreme fear" zone.