65% ether investors in India are aged below 34 years: Survey
Premium- Region-wise, Tamil Nadu had the highest share of ether investors at 20.16%, followed by Maharashtra at 15.83%, Karnataka at 9.27%, Delhi at 8.99% and Uttar Pradesh at 7.90%
NEW DELHI : A survey conducted among 114,000 BuyUcoin users has revealed that the majority of ether investors in India are from the 18-34 years age group, while state-wise, Tamil Nadu had the highest investor share.
The survey revealed that the age group of 25-34 years had the highest share of ether investors, accounting for 36.04% of total investors, followed by 18-24 years at 29.36%, then 35-44 years at 17.36% and 45-54 years at 8.89%. The 55-64 years age group had 4.86% of the investors followed by over 65 years at 2.95%.
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Region-wise, Tamil Nadu had the highest share of ether investors at 20.16%, followed by Maharashtra at 15.83%, Karnataka at 9.27%, Delhi at 8.99% and Uttar Pradesh at 7.90%.
According to the cryptocurrency exchange BuyUcoin, the world’s second-biggest digital asset has jumped over 1,180% over the past year. Around 3.40 pm IST, ether was trading at ₹165,299 on the platform.
“Ether has witnessed massive sell-off or profit booking owing to the stellar rally along with other crypto assets. We can say that ether is in the accumulation phase and the smart money is buying it currently. We strongly believe that the cryptocurrency will touch a new all-time high in the next six to eight months," says Shivam Thakral, chief executive officer, BuyUcoin.
In the international market, ether, which is built on the ethereum blockchain, was trading 10% higher at $2,249.59 after moving in a wide range of $1,758.56-2,320.07 over the past 24 hours, as per CoinGecko. The digital asset is 48% lower than its all-time high of $4,356.99, which was hit on 12 May.
In terms of demographic breakdown, the survey showed that ether had the largest number of female investors compared with other cryptocurrencies at 14%, showing a 780% growth over the last year.
After a stellar run over the past year, the cryptocurrency market has come under severe pressure owing to negative comments by Tesla chief Elon Musk, a crackdown by China, and lofty valuations.
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