Singapore Leads Global Crypto Adoption at 28% Singapore Leads Global Crypto Adoption at 28%

Gemini’s State of Crypto Report has revealed significant insights into the global adoption of cryptocurrencies, with a particular focus on the role of memecoins as an entry point for new investors. The report highlights that Singapore leads with the highest ownership rate at 28%, followed by the UK at 24%. This surge in interest is partly attributed to the US opening up its market, which has boosted confidence in cryptocurrency among non-owners globally. Nearly a quarter of non-crypto owners in the US, and about one in five in the UK and Singapore, expressed increased confidence due to the launch of the Strategic Bitcoin Reserve.

The report also sheds light on the growing popularity of memecoins, with France emerging as the leader in memecoin adoption. A substantial 67% of French crypto investors own memecoins, surpassing Singapore at 59% and Italy at 58%. The survey indicates that memecoins are serving as an onramp for investors, with 94% of respondents owning both memecoins and other cryptocurrencies. In the US, 31% of investors who own both memecoins and traditional cryptocurrencies reported purchasing their memecoins first, followed by 28% in Australia and the UK, 23% in Singapore, 22% in Italy, and 19% in France.

For more conservative investors, Exchange-Traded Funds (ETFs) have also acted as an onramp. In the US, two in five investors surveyed own crypto ETFs, with a similar trend observed in Italy, the UK, Australia, and Singapore. The report provides a snapshot of the current appetite for crypto, highlighting the global adoption trends that have been overshadowed by US narratives. Despite the varying opinions on memecoins, they have proven to be a durable entry point for new investors and a means for existing investors to diversify their crypto holdings.