Breaking News
Investing Pro 0
💎 Access the Market Tools Trusted by Thousands of Investors Get Started

Digital Culture: A Story of Digital Awareness According to AAX

Published Jul 20, 2021 02:00PM ET Updated Jul 20, 2021 02:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Digital Culture: A Story of Digital Awareness According to AAX
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio

  • Cryptocurrencies have evolved as user behavior has shifted more towards digital technologies.
  • The cryptocurrency space is hard to navigate due to the abundance of cryptocurrencies that continue to flood the market.
  • Current cryptocurrency providers need to educate participants in the technology, though market cycles should bear remembrance.
  • The ideology of “get rich quick” continues to prompt exuberant demand for cryptocurrencies.

Cryptocurrencies have evolved into a digital standard, which transcends existing economic standards. Bitcoin’s volatility makes it attractive for investors due to the high-yield investment returns. Digital natives are the main beneficiaries of digital technologies as 94% of crypto buyers fit the Gen Z/Millennial profile. As an abundance of new investors enter the market, demands diversify, and investors are seeking out high financial yields as they start to understand the market.

The High Horse of Crypto

During an interview with DailyCoin, Ben Caselin, head of research and strategy at AAX, highlighted that the current digital market is hard to navigate from a user perspective. He specifically emphasizes that participants in the industry vary, with the supply having to be diversified as a result. Additionally, he posits that crypto is “really difficult to navigate as a business,” adding:

"...Then there are the institutions that have actually come in, but they come in, they command much more capital, and they play a whole different game, and for newcomers, that's very difficult to navigate." The high volatility of Bitcoin in 2017 was due to the lack of liquidity, and new institutional interest curbs some of those concerns. Adding to that, Ben Caselin emphasizes that “compared to 2017, right now, the market infrastructure is way better,” further denoting that there is “much more knowledge in the space,” regardless of if it’s actively trading or simply understanding the market.

A Product of Digital Culture

Cryptocurrency projects are particularly appealing to the younger demographic. New means of promotion are intended to place the product in front of consumers who are digital natives. Caselin argues that the new crypto consumers “grew up in a digital age and know not to trust some random email promising you a million dollars, right?”

With each new emerging technology, security breaches and scams are part of the innovation process. Speaking In that regard, Caselin said:

"There have always been scammers, and people need to educate themselves and become wised up," arguing that younger generations “are much less likely to be scammed” as they were raised during the digital revolution.

Despite the plentiful reserves of digital knowledge, there is a lack of interest in educating users about the existing risks. The lines between decentralization and centralization of blockchain have become blurred. “The solutions are there, but the culture is not there yet,” asserted Caselin.

On The Flipside

  • Digital native investors are highly influenced by social media personalities that generally have a hidden paid agenda.
  • Memecoins will not stand the test of time and are just a distraction to the larger development of crypto.
  • The SEC issued a statement in 2017 warning that influencers are not to be trusted for financial advice.
  • TikTok banned financial advice videos, putting an end to the FinTok phenomenon.

The Drawbacks of an Unregulated Market

Crazes in the crypto market have not changed since the first emergence of Bitcoin, in fact, new trends have kept speculative interest high. Ben Caselin emphasizes that the memecoin hype is similar to that of the 2017 ICO boom and colored Bitcoins, which highlights that cryptocurrencies can “flip it around and show you something that you didn’t expect.”

Previous experience in the market makes people more aware of the entire industry, however as Caselin argues:

"I think there's that same kind of craziness that we saw in 2017 and that's also because many new people have joined the space, so while kind of a core group of maybe people that already experienced one or two cycles, you know, maybe they're strong and HODLing" In short, Caselin discusses that no matter how experienced cryptocurrency users are, new trends emerge, which then seconds new users to partake, making each crypto cycle distinct but similar at the same time.


Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Digital Culture: A Story of Digital Awareness According to AAX

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your profile, will be public on and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email