Singapore Crypto Owners Are More Likely to Hold Ether Than Bitcoin
Right now•2 min read•Bitcoin
Ether is the most popular cryptocurrency in Singapore, a survey published Monday found.
Almost four-fifths of crypto investors, 78%, hold ether compared with 69% who own bitcoin, according to a survey by crypto exchange Gemini, finance platform Seedly, and information provider CoinMarketCap. Cardano came third at 40%. The survey of over 4,000 adults conducted June 29-July 9 also found that 67% of respondents with personal investments have crypto in their portfolio, and two-thirds of the crypto holders increased their digital-asset holdings during the pandemic. Of those who haven't invested in crypto, more than two-thirds cited lack of knowledge. Perceived market volatility also played a part in the decision. Still, 34% of respondents who don't own crypto said they plan to enter the market within the next 12 months The most interesting aspect of crypto to all responders was decentralized finance, followed by crypto as an inflation hedge and non-fungible tokens. Around 80% of crypto owners in Singapore are men and under 34, the survey found. Women who own crypto have a higher median income than their male counterparts. While 64% of all crypto holders have more than 5% of their portfolio in digital assets, a full fifth of those aged 18-24 said more than half of their investments are in crypto. Singapore is emerging as Asia's crypto hub, in part due to favorable regulation.