Altcoins Survey 2020

We collected 22,724 effective responses during the course of the survey. The main takeaways from the survey are listed below.

We collected 22,724 effective responses during the course of the survey. The main takeaways from the survey are listed below.

Key Takeaways:

• 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.