83% of Millennial Millionaires Own Cryptocurrencies, Finds Survey; Bitcoin Fall Continues

A recent survey done by CNBC has revealed that 83 per cent of millennial millionaires own cryptocurrencies and they are planning to add more in 2022 despite the recent price declines. Meanwhile, prices of mainstream crypto and meme coins have witnessed minimal changes on December 18, data of Coinmarketcap.com showed.

The price of Bitcoin (BTC) was down 0.81 per cent in the last 24 hours and was trading at $47,170.54 at 5:00 pm IST. Bitcoin’s dominance in the crypto market is currently at 40.35 per cent, down 0.56 per cent in the last 24 hours.

Ethereum (ETH) was trading at $3,960.27 and rose 2.92 per cent in the last 24 hours, while Binance Coin (BNB) was up 0.88 per cent over the same period and was trading at $531.06. Solana (SOL) rose by a steep 1.61 per cent to $179.90 and Cardano (ADA) rose by 1.58 per cent to $1.26.

Meme Coins

Except for Dogecoin (DOGE), all other coins such as Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) faced a fall in their price in the last 24 hours.

Dogecoin witnessed a rise of 0.92 per cent and was trading at $0.1733 at 5:00 pm. Rival Shiba Inu was down by 0.82 per cent and was trading at $0.00003183, Dogelon Mars fell by 2.29 per cent and was trading at $0.000001093, while Samoyedcoin was trading at $0.04066 and recorded a fall of 6.40 per cent.

Overall Scenario

The global crypto market cap was $2.21 trillion, registering an increase of 1.26 per cent in the last 24 hours, while the total crypto market volume was $109.44 billion, up by 18.75 per cent.

MetaswapGas (MGAS) became the biggest gainer, recording a rise of 2614.07 per cent; it was trading at $0.0003962 at 5:00 pm. On the other hand, CrimecashCGold (CGOLD) witnessed maximum loss, falling 99.99 per cent; it was trading at $4,496.80. 

Latest Updates

Despite the recent price declines in major cryptocurrencies, nearly 48 per cent of the millennial millionaires plan to add to their holdings over the next 12 months, while another 39 per cent plan to maintain their current crypto levels. Only 6 per cent of them plan to reduce their crypto investments over the next year, shows the report by CNBC. 

“This is a big difference between different generations of wealth,” said George Walper, president of Spectrem Group, which conducts the survey with CNBC.