Bearish movements across the crypto market has had little to no effect on worldwide trust in crypto – the conclusion was made following a new research commissioned by Bitstamp exchange.

Specifically, regardless of the declining pattern in the market, global trust in cryptocurrencies such as Bitcoin (BTC) is still keeping up with its consistency, per Bitstamp in its most recent Crypto Pulse report. 

Insights from the research is reportedly derived from a survey carried out by an independent research entity with the involvement of 28,000 retail and institutional investors in 23 nations, Bitstamp claimed.

The survey found out that the proportion of international retail investors who believe in the trustworthiness of crypto has slightly plummetted from 61% in Q1 to 65% in Q2 this year. 

The survey signaled a similar trend among institutional investors as 67% of respondents deemed crypto trustworthy in Q2 versus 70% in Q1.

“Considering that in Q1 we were entering a crypto winter, these numbers are inspiring and speak in favor of the industry’s resilience,” Bitstamp analysts further disclosed.

The crypto trust percentage has had variations throughout different nation, with America witnessing the single most major rise in trust, from 61% in Q1 to 73% in Q2, according to the report. 

On the contrary, Canada was the only nation which witnessed trust in cryptocurrency falling under 50% in Q2. Trust in crypto also carried out its performance in nations such as Brazil, Chile and Mexico, with trust percentage accounting for 77%, 69% and 70%, respectively.

“We can see that crypto has, for the most part, maintained the trust of many investors and institutions across the world during a difficult time for the sector,” Bitstamp said. In the meantime, some fluctuations in trust in certain countries are certainly to be expected.”