Crypto Crash: Singapore’s Wild Ride! 📉

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The Singapore sun beat down, hot and heavy, much like the crypto market in ’24. Seems folks got tired of chasing that digital rainbow. Ownership, it just withered, dropped like a stone in the Singapore River. Eleven percent gone, vanished like a promise in a politician’s mouth. And half the folks who held on? Well, they cashed out. Sold their digital beans for something real, something you could hold in your hand. Maybe a bowl of noodles. 🍜

These Singaporean gamblers, they ain’t fools, not all of ’em anyway. They saw the tide turnin’. Locked in their winnings, like a farmer harvestin’ before the storm. Rebalanced their portfolios, whatever that fancy talk means. Instead of jumpin’ headfirst into that recent market rally, they just watched from the sidelines, sippin’ their kopi. Smart. Or maybe just lucky. 🤔

This here survey, the 2025 Independent Reserve Cryptocurrency Index, it says near half of ’em, forty-nine percent, sold off somethin’. And outta them sellers, sixty-seven percent made a profit. Lasanka Perera, big shot at Independent Reserve Singapore, he calls it a “recalibration.” Sounds like fancy talk for “folks got scared.” But what do I know? I’m just a humble narrator. 🤷‍♂️

Crypto ownership, it slumped to twenty-nine percent, used to be forty. Even with all the hype, all the talk of riches, folks just weren’t buyin’ it. Bitcoin and Ethereum, they’re still the big dogs, sixty-eight and forty-eight percent respectively. But these investors, they’re gettin’ picky. Sixty-five percent only holdin’ two to five of these digital nothin’s. Like choosin’ between two bad brands of cigarettes. 🚬

“Singaporeans now have a more thoughtful, disciplined approach to investing in crypto. They have been making smart plays and know that being in the right asset class matters. It’s been exciting to witness the market becoming more informed and mature when it comes to digital assets.”

Lasanka Perera

One in five Singaporeans dabbles in crypto. Compared to near half in stocks or fixed deposits. The shift, it’s like the tide goin’ out. Global uncertainty, they call it. A fancy way of sayin’ folks are scared of losin’ their shirts. They’re puttin’ their money in savings, forty-nine percent favorin’ cash or fixed deposits. Up from forty-two percent last year. Cash, you can’t eat Bitcoin. 💸

The ones still holdin’ on, they’re still believers. Over half, around fifty-three percent, say they’ll buy more. Maybe they’re hopin’ to catch the next wave. Or maybe they’re just stubborn. Public awareness, it’s high, ninety-four percent. But trust? That’s a different story. Needs stronger rules, better behavior from these crypto companies. Easier said than done. 😈

Early April, some survey by Triple-A, says more than half of Singapore holders are usin’ crypto for payments. Fifty-two percent used it to buy stuff. Sixty-seven percent plan to use it more. Maybe they’re onto somethin’. Or maybe they’re just tryin’ to spend it before it’s worthless. Only time will tell. ⏳


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2025-05-22 12:56