Cardano and Ethereum are among the most preferred cryptos in Singapore as over 78% of investors have invested in them, with 40% of them trusting the third largest. So let’s read more on our altcoin news today.
Bitcoin, Cardano and Ethereum are the most heavily invested cryptocurrencies in Singapore, according to a recent Gemini survey on adult crypto investment behavior in Singapore. The survey found responses from over 4,300 adults, 67% of whom owned cryptocurrencies, 79% of whom were men and 80.2% of those holders were under 34 years of age. The average cryptocurrency holder is likely a 29 year old male with an annual household income of around $ 51,968.
Cardano ADA 24-hour chart (source: coingecko)
1 in 5 crypto holders were women and 12% of them earned between $ 55,000 and $ 75,000 and only 0.2% of the holders were over 65 years of age. Ethereum is the most widely used blockchain in the world and a prime investment of choice for Singaporean owners. Bitcoin is the largest crypto in the world, followed by 69% adoption by buyers. Cardano came in third place, accounting for up to 40% of all bearer wallets in Singapore. The ADA token stormed into the top 3 by market capitalization earlier this week and hit a high of $ 2.20 thanks to fundamentals.
ETH 24-hour price chart (source: coingecko)
Other significant holdings were BNB 31%, Ripple 25%, Tether 25%, DOT 22%, LINK 18%. Therefore, the survey showed that women were more likely to hold or trade DOT and XRP. Meanwhile, two-thirds of 2,862 people who invested in crypto said they invested more in crypto due to the current COVID-19 pandemic, the report found:
“The Covid-19 pandemic has led more Singaporeans to invest in crypto. One possibility for this could be that investors are increasingly informed about crypto, accelerated by the rise of the digital economy during the pandemic. Some may also see cryptocurrency as a great way to hedge against inflation. “
As recently reported, most of the crypto market is growing, but this meme coin is quickly falling out of the top 100.SafeMoon is a crypto token that has grown in popularity on social media but has continued to fall in price despite the recent market boom is. It fell 16% on the last day, falling out of the 100 coins in terms of market capitalization by both Nomics and CoinGecko.
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