The latest survey by Independent Reserve shows a high level of cryptocurrency awareness in Singapore, contrasted by a decline in ownership amid economic caution.
Increasing Crypto Awareness
According to the annual Independent Reserve Cryptocurrency Index (IRCI) survey, crypto awareness in Singapore has reached 94%. However, ownership has dropped from 40% in 2024 to 29% in 2025, indicating a shift towards safer investments during times of economic uncertainty.
Investors Opt for Stability
The decline in crypto ownership reflects investor caution in light of economic instability. The trend of turning to traditional assets for risk mitigation during volatile market periods is becoming evident. Mark Wong from Independent Reserve noted that investors are focusing on risk management strategies and asset diversification.
Short-term Trend or Long-term Shift?
The current decline in cryptocurrency ownership aligns with previous bear market trends, especially during 2022 and 2023. This pattern often correlates with market corrections and shifts in investor sentiment. Despite the decline, 53% of respondents indicate plans to increase their cryptocurrency holdings in the long run.
Thus, the high awareness of cryptocurrencies in Singapore is coupled with a cautious investment approach, reflecting the challenges posed by the current economic situation.
