Home Crypto Cardano Among the Most Popular Crypto Assets in Singapore, According to Gemini...

Cardano Among the Most Popular Crypto Assets in Singapore, According to Gemini Study

A examine performed by cryptocurrency alternate and custodian Gemini says Cardano is one in all the hottest crypto property in Southeast Asia’s city-state Singapore.

In a report titled “The State of Crypto in Singapore 2021,” Gemini surveyed 4,348 Singaporean adults, ages 18 to 65, throughout various revenue brackets.

According to the report, 67% of the respondents personal cryptocurrencies.

The examine exhibits that Ethereum (ETH) is the most held crypto asset in the city-state, adopted by Bitcoin (BTC), Cardano (ADA) and Binance alternate token Binance Coin (BNB).

“Of the 2,862 crypto holders, 2,236 of them are presently holding on to ETH. BTC is the second hottest cryptocurrency, with 1,975 of the crypto holders holding on to it.

Coming in third and fourth are ADA and BNB, held by 1,141 and 893 traders respectively.”

Stablecoin Tether (USDT) and XRP are tied at quantity 5. Interoperable blockchain Polkadot comes in at quantity six, adopted by decentralized oracle community Chainlink (LINK).

Source: Gemini

The report additionally shines the highlight on the greatest causes stopping non-crypto holders from coming into the market.

“68.8% of non-crypto holders cite the lack of expertise and understanding as the foremost purpose. Other causes embrace the volatility of the market, the asset being too dangerous and the lack of regulatory oversight.”

The potential crypto traders say that sure situations would entice them to hop on the digital asset bandwagon.

“A complete of 76.2% potential traders prompt {that a} good worth to enter the market will set off them to make investments. Better investor safety is the second purpose that will drive non-crypto holders to begin investing. Other causes embrace enticing promotions from cryptocurrency exchanges, greater curiosity yield farming, household and associates, and new tokens itemizing.”

Source: Gemini

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Featured Image: Shutterstock/unicro

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