Crypto Investors Diversify Beyond Top Coins During Dip, Robinhood Exec Says

Johann Kerbrat, head of crypto at Robinhood, says many customers view the market downturn as an opportunity to buy the dip and are trading a wider range of tokens rather than sticking to the largest two or three assets. He described customers as “going pretty wide,” referring to Bitcoin and Ether as the two largest cryptocurrencies by market capitalization.

The Altcoin Season Index showed a Bitcoin Season score of 33 out of 100 on Sunday, reflecting that investors still favor Bitcoin over altcoins. The reading suggests some investors may be growing more comfortable treating crypto as an asset class despite its swings.

Institutional activity appears more cautious. Coinbase Asset Management president Anthony Bassili said there is no clear consensus among average investors on the third asset to own after Bitcoin and Ethereum, with Solana only a tentative option.

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