The crypto awareness in Singapore has reached an all-time high. 94% of the respondents in a recently carried out survey show that it’s conversant in no less than one digital asset.
According to the fifth annual crypto market survey of Independent Reserve from Independent Reserve from Independent Reserve from Independent Reserve, the fifth annual crypto market survey of Independent Reserve from Independent Reserve has decreased of 40%.
The survey carried out with 1,500 participants in February showed that men are still more energetic in cryptoinvestment than women, 35% in comparison with 24%.
Millennials and Gen X (25 to 54 years) dominate the investor base and include 71% of all owners. Under the trade, that are traded no less than once every week, 76% fall into this age group.
Half of the Singapore investors plan to extend the investments
Despite the waste of ownership, the mood stays strong. Over half of the present owners (53%) plan to extend their positions over the following 12 months and 17% of non-owners expressed interest in entering the market.
Bitcoin (BTC) continues to be the anchor of the crypto market in Singapore. It is held by 68% of crypto investors and 86% either considered a currency, value or investment assistance. In particular, 77% consider that Bitcoin might be price over 100,000 US dollars by 2030.
Direct property stays the popular exposure method, with 61% deciding their assets directly as an alternative of stock market funds (ETFs).
The Arbitrage trade also increases. 67% of the respondents stated that they’d sold part or all of their investments with a purpose to profit from price fluctuations last yr.
Bitcoin is the most effective -known crypto in Singapore with 91%conscious awareness, followed by Ethereum at 54%, Dotecoin at 41%, Shiba Inu at 23%and Solana at 22%. Source: Independent reserve
In the meantime, 46% of investors keep stable coins, mainly for industrial and defi activities, with 83% of them being certain to the US dollar.
Memecoins remain a speculative market corner, with 28% of those surveyed no less than one, with Dotecoin (Doge) being the most well-liked.
Singapore becomes a world crypto hub
Singapore has consolidated his role as a world hub for the event of blockchain and cryptocurrency.
The study said Singapore leads the world with 1,600 blockchain patents, 2,433 crypto-related jobs and 81 energetic cryptocurrency exchanges.
Hong Kong took second place with 890 blockchain patents, 1,163 jobs within the sector and 52 crypto exchanges, which reflects the continued advance of town within the digital financial space.
In 2024 Singapore doubled his regulatory dynamics. The monetary authority of Singapore issued 13 large payment deposits for crypto exchanges, greater than twice as high as in 2023.
