Crypto possession amongst Singaporeans dropped from 40% in 2023 to simply 29% in 2024. Regardless of public consciousness reaching an all-time excessive of 94%, a 11% dip in Singapore residents’ crypto possession was seen final yr.
In accordance with a 2025 Independent Reserve Cryptocurrency Index (IRCI) survey, the place 1500 residents had been surveyed, it was discovered that just about half or 49% of crypto traders offered half or all of their crypto holdings in 2024. Notably, 67% of the individuals who offered their crypto made a 67% revenue. It’s evident that many Singaporeans are capitalizing on current market rallies to safe beneficial properties. Is that this an indication of a mature market, the place traders are prioritizing high quality and locking in income?
Crypto consciousness in Singapore hits document 94%, however possession falls https://t.co/z4HMt2bHgK
— Dr Martin Hiesboeck (@MHiesboeck) May 22, 2025
Netizens weighed in. X consumer choubix said, “Authorities in Singapore may be very vocal and discourages folks to purchase crypto citing volatility and many others (they’re doing their job). Personally I purchased some XRP and some others so I could have contributed modestly to growing that %”
“Singaporeans now have a extra considerate, disciplined strategy to investing in crypto,” mentioned Lasanka Perera, CEO of Impartial Reserve Singapore. Bitcoin stays the cornerstone of the ecosystem. Its decentralised design, shortage, and transparency are the explanation why many Singaporean traders proceed to belief it.
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Bitcoin Stays Dominant Crypto Asset in Singapore
Nevertheless, the survey means that Bitcoin stays the dominant asset as over 68% crypto traders held BTC. In the meantime, 48% held Ethereum. Moreover, over 53% of present traders plan to extend their holdings and 17% of non-investors are contemplating coming into the market. Bitcoin is seen by 86% Singaporean residents as a foreign money, retailer of worth, or funding asset.
Regardless of the drop in possession, sentiment stays bullish.
Investor opinions are break up on belief in stablecoins versus Bitcoin, in line with the survey. 44% of respondents say they belief stablecoins extra, largely due to their value stability and connection to fiat foreign money.
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Stablecoins Acquire Momentum with Regulatory Readability
In accordance with the survey, 21% of Singaporean crypto traders at the moment personal stablecoins and an extra 25% held them prior to now. USD-pegged tokens are most most well-liked, held by 83% of stablecoin traders.
Importantly, the Financial Authority of Singapore (MAS) views stablecoins as a promising type of digital fee token with the
potential to function a reputable digital medium of trade and a bridge between fiat and digital asset ecosystems. On that word, MAS finalised a regulatory framework particularly for single-currency stablecoins (SCS) pegged to the Singapore greenback or G10 currencies and issued in Singapore, to make sure a excessive diploma of worth stability and monetary soundness.
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Key Takeaways
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The survey means that Bitcoin stays the dominant asset as over 68% crypto traders held BTC.
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Stablecoins are rising as an important bridge between conventional finance and the decentralized world. The IRCI knowledge exhibits that 46% of crypto traders in Singapore personal or have owned stablecoins, primarily for buying and selling and DeFi actions.
The publish Why is Crypto Ownership Plummeting in Singapore? appeared first on 99Bitcoins.
