A new study shows that Ethereum is the most popular cryptocurrency among more than 4,000 adults surveyed in Singapore. The second most popular crypto is Bitcoin, followed by Cardano.
Singapore-based crypto investors prefer Ethereum, Bitcoin, Cardano
The new State of Crypto 2021 in Singapore, a joint study by Seedly, Gemini and Coinmarketcap, was released on Monday. It contains a survey of 4,348 Singapore adults aged 18 to 65 with different household incomes.
The survey was conducted between June 29th and July 9th. It comprised 2,862 respondents who said they were current crypto holders and 1,486 respondents who said they were non-crypto holders. Every fifth crypto holder surveyed was female.
According to the survey results, 78% of respondents who had cryptocurrencies said they own Ethereum (ETH), 69% said Bitcoin (BTC), 40% said Cardano (ADA), 31% said Binance Coin (BNB) and 25% said XRP. The report describes:
Of the 2,862 crypto holders, 2,236 of them are currently holding on to ETH. BTC is the second most popular cryptocurrency that 1,975 of crypto holders are clinging to. Third and fourth are ADA and BNB, which are held by 1,141 and 893 investors, respectively.
The report notes, “Since ETH, BTC and ADA are the most popular cryptocurrencies among both sexes, women actually hold and trade XRP and DOT [polkadot] more than their male counterparts. USDT [tether], on the other hand, is more popular with male crypto holders. “
Crypto investors also revealed how they were affected by the Covid-19 pandemic. The report states, “Of 2,862 people who invested in crypto, two-thirds more invested in crypto due to the Covid-19 pandemic.” The report adds, “The Covid-19 pandemic has driven more Singaporeans to invest in crypto. “
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