Ethereum has already “reversed” Bitcoin in this part of the world

Ethereum (CRYPTO: ETH) is a more popular investment choice than Bitcoin (CRYPTO: BTC) among Singaporean crypto investors.

What happened: Ether is the most popular cryptocurrency in Singapore, according to the results of a survey released on Sunday by the Gemini crypto exchange. The study found that 67% of the 4,000 participating investors hold cryptocurrencies and 78% of their wallets are in Ether.
The survey also found that two-thirds of crypto holders increased their crypto holdings during the pandemic, and more than two-thirds of those who have yet to invest cited lack of knowledge as the reason.

Read also: Why Ethereum Miners Make a Million Dollar Bet Against Proof of Stake

Of all crypto holders, 64% have more than 5% of their portfolio in digital assets, while a fifth of 18-24 year olds admitted that most of their investments are in crypto. Investors found decentralized finance (DeFi) to be the most interesting area in the cryptocurrency space, followed by the use of digital assets as inflation hedges and non-fungible tokens.

Why is this important: The turnaround is a hypothetical scenario in which Ethereum’s market cap exceeds that of Bitcoin.

While Ethereum’s market cap of $ 385 billion is currently equivalent to only 43% of the value of Bitcoin’s network, estimates that Ether becomes deflationary when the London network upgrade causes thousands of coins to burn. every day comes down to a transition to proof of stake caused many to speculate if the situation might change soon.

Yet, according to our recent analysis, comparing the two coins is much more complicated than looking at their estimates of the rate of inflation or deflation.

Price action: At the time of going to press, Bitcoin is trading at $ 46,367, up 0.10% in the past 24 hours, while Ehtereum is gaining 1.45% and trading at $ 3,225.