Ether is more popular than BTC among Singaporean investors

by in Cryptocurrency News

Singapore

In a survey conducted among Singaporean crypto traders. Researchers have found that Ether (ETH) is a more popular digital currency compared to Bitcoin.

78% of respondents said they own ETH, while 69% of investors hold the first cryptocurrency. The survey was conducted by the Gemini exchange in partnership with the Seedly platform and the CoinMarketCap service.

The third most popular altcoin is Cardano (ADA), which has significantly strengthened its position last week. This coin is held by about 40% of survey participants.

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More than 4,000 investors took part in the study. It was held from June 29 to July 9. 67% of respondents admitted that they already have digital assets in their portfolio. Moreover, more than half of this category of Singaporean Internet users significantly increased their cryptocurrency reserves during the coronavirus pandemic.

Those, who are afraid to invest in such tools motivate their decision with extremely weak knowledge of the cryptosphere. However, 34% of them are ready to buy virtual coins soon.

80% of investors are men over the age of 34. The researchers also drew attention to the growing popularity of the DeFi decentralized finance market.