Singapore's Crypto Scene: A Strategic Retreat or Savvy Play?

Mass Exodus from Crypto in 2024

Holy smokes, folks! Singapore's crypto scene just got hit with a major shakeup in 2024. We're talking an 11% drop in ownership and a whopping 50% of holders waving goodbye to their digital assets. It's like a mass exodus out there!

Investors Locking in Gains and Playing it Smart

But hold up, it's not all doom and gloom. The 2025 Independent Reserve Cryptocurrency Index spilled the beans that Singapore's crypto crew is locking in those sweet gains and juggling their portfolios like pros. They're not just jumping on the latest rally bandwagon; they're playing it smart!

Selling High and Staying Selective

Get this: a mind-blowing 49% of Singapore's crypto gang sold off part or all of their stash in the last year, and of those ballers, 67% walked away with a profit. Lasanka Perera, the big cheese at Independent Reserve Singapore, dropped some truth bombs, saying this ain't a retreat from crypto, but a straight-up recalibration, yo!

Crypto Ownership Dips, But Bitcoin and Ethereum Still Rule

Even though crypto ownership took a nosedive from 40% to 29% in 2024, and prices are still climbing, Bitcoin (BTC) and Ethereum (ETH) are still the kings of the crypto jungle, with 68% and 48% of investors holding strong. And get this, 65% of these savvy investors are keeping it tight with just two to five cryptocurrencies in their arsenal.

Singapore's Crypto Investors: Smarter, More Disciplined

Lasanka Perera

"Singaporeans are leveling up their crypto game, y'all! They're all about that thoughtful, disciplined approach to investing. These cats know what's up and are making some killer moves. It's been a wild ride watching the market get more informed and mature when it comes to digital assets."

Shifting Tides: Crypto vs. Traditional Investments

Now, here's where it gets real interesting. One in five Singaporeans is still riding the crypto wave, but that's nothing compared to the nearly half who are diving into stocks or cozy fixed deposits. With all the global craziness going down, it's no surprise folks are playing it safe. A solid 49% are stashing more cash in savings or fixed deposits, up from 42% last year.

Confidence and Awareness: The Crypto Pulse

But don't sleep on the crypto faithful! Over half—around 53%—are ready to throw more cash at crypto in the next 12 months. And awareness? Sky-high at 94%! But trust is still riding on stronger rules and companies keeping it real, according to the survey.

Crypto Payments on the Rise

And check this out: a survey from crypto payment firm Triple-A in early April revealed that more than half of Singapore's crypto holders are using their digital assets to pay up. A cool 52% have already used crypto to score goods and services, while 67% are gearing up to use it even more in the future. It's like the future of payments is happening right now!