Robinhood Executive: During market pullbacks, investors are diversifying their allocations from top assets to a broader range of cryptocurrencies

On February 22, according to Cointelegraph, Robinhood’s head of crypto, Johann Kerbrat, stated that despite the ongoing market correction, platform users have not stopped trading; instead, they see it as a “buying the dip” opportunity, expanding their investment scope from the top two cryptocurrencies to a broader range of tokens. Kerbrat pointed out that investors are increasing diversification efforts rather than focusing solely on leading assets like Bitcoin and Ethereum, indicating that the market’s acceptance of the crypto asset class and its volatility is improving. Currently, CMC data shows the Altcoin Season Index at 33 (out of 100), still in “Bitcoin Season,” suggesting that overall funds remain biased toward Bitcoin. Additionally, Kerbrat mentioned that since the launch of staking features in December last year, platform staking participation has significantly increased, and some users have begun exploring DeFi applications. Meanwhile, the US spot Bitcoin ETF has recorded net outflows for five consecutive weeks, totaling approximately $3.8 billion, and market sentiment remains in the “extreme fear” zone.