Cardano among the most popular crypto assets in Singapore, according to Gemini study

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A study conducted by the cryptocurrency exchange and custodian Gemini indicates that Cardano is one of the most popular crypto assets in the Southeast Asian city-state of Singapore.

In a report titled “The State of Crypto in Singapore 2021,” Gemini surveyed 4,348 Singaporean adults, aged 18 to 65, in different income brackets.

According to the report, 67% of those surveyed own cryptocurrencies.

The study shows that Ethereum (ETH) is the most owned crypto asset in the city-state, followed by Bitcoin (BTC), Cardano (ADA) and the Binance Binance Coin (BNB) exchange token.

Of the 2,862 crypto holders, 2,236 of them currently hold ETH. BTC is the second most popular cryptocurrency, with 1,975 crypto holders holding it.

ADA and BNB come in third and fourth, held respectively by 1,141 and 893 investors. “

Stablecoin Tether (USDT) and XRP are tied for fifth. The interoperable Polkadot blockchain comes in at number six, followed by the decentralized Oracle Chainlink (LINK) network.

Source: Gemini

The report also sheds light on the main reasons preventing non-crypto holders from entering the market.

“68.8% of non-crypto holders cite lack of knowledge and understanding as the main reason. Other reasons include market volatility, the asset being too risky and lack of regulatory oversight. “

Potential crypto investors say there are conditions that would cause them to jump on the digital asset bandwagon.

“A total of 76.2% of potential investors suggested that a good price to enter the market would encourage them to invest. Better investor protection is the second reason that can push non-crypto holders to start investing. Other reasons include attractive promotions from cryptocurrency exchanges, higher interest farming, family and friends, and the new token list.

Source: Gemini

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