We collected 22,724 effective responses during the course of the survey. The main takeaways from the survey are listed below.
- Most respondents held altcoins (83% in total). Among these altcoin holders, 27% of them were altcoin maximalists (only hold altcoins) and 73% held both Bitcoin and alts;
- “Decentralized Finance” (59%) and “Payment” (54%) were utilities that respondents were most interested in. It seems that the recent growth in DeFi has raised people’s awareness and interest;
- The three most popular altcoins were Ethereum (ETH), Crypto.com Coin (CRO) and Ripple (XRP);
- 66% of respondents recently bought altcoins and only 2% believed that it is time to sell. The demand for altcoins (and crypto in general) is very strong at the moment;
- Respondents mainly held altcoins for long-term price appreciation (66%) and staking rewards / to earn interest (55%);
- 44% of respondents believed that we are already in alt-season, 27% said “soon”;
- 63% of respondents believed that altcoins will eventually overtake Bitcoin in market cap. On the contrary, only 19% answered “No, never”. Overall, our respondents seemed to favor altcoins over Bitcoin.
Read the full version of the Altcoins Survey 2020 here.