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Survey: Nearly 30% of Canadians are Cryptocurrency Investors

According to a recent survey, nearly every third Canadian has invested in digital assets. However, crypto investments are still a concern for most locals as only 5% consider it safe.

Cryptocurrencies and ‘Meme Stocks’ in Canada

The financial technology start-up – Hardbacon – conducted a survey among Canadian adults to estimate the cryptocurrency sentiment in the country. Per the results, 28% of the participants answered they have indeed purchased digital assets. Taking a closer look, 85% have exposure to Bitcoin, and 75% have some to Ethereum.

While the percentage may seem high, Canadians don’t consider virtual currencies to be a safe investment strategy. Only 5% of respondents said the opposite. 21% believe buying stocks is more secure, while 65% pointed out government bonds are the safest option.

Interestingly, investing in “meme stocks” such as Cineplex, AMC, and GameStop is a growing trend among Canadian citizens, as 13.3% of the participants admitted they had diversified their portfolio with such. When it came down to age, the poll concluded that those between 25 and 44 years old are more open to the idea of investing in meme stocks as 30% of them have already done that.

Hardbacon cautioned that buying these shares can be risky because they are often driven by social media and therefore could be volatile.

Canadians Have Been Showing Crypto Enthusiasm

According to another recent study ,, the residents of the country with the second largest landmass have increased their interest in digital assets over the past year.

Per the data, 20,783 out of 100,000 Canadians have googled “crypto” over the past 12 months. Even though the number might seem small, it still represented an increased interest of 213% in a year. As a matter of fact, the USA – ranked as the most crypto-ready country – falls behind with 14,796 such queries on the world’s largest search engine.

It is worth noting that Canada has one of the highest number of crypto ATMs – 1,464 – second only to the States. Doing the maths, there is one such machine for every 26,265 people. Due to the country’s large size, one crypto ATM is available in every 2 miles. 633 square miles. The USA undisputedly ranked first with its 17,436 machines, while the largest density is in Hong Kong.

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Ethereum

Arthur Hayes Says Cardano Is A ‘Shitcoin’ – Here’s Why

Cardano (ADA) is a “shitcoin” without purpose that has no distinct advantage over competitors, according to BitMEX co-founder Arthur Hayes.

“Who gives a fuck? Zero?” said Hayes when asked “What about Cardano?” in an interview with Coin Bureau published on Sunday.

Cardano Is A Shitcoin, Says Hayes

Continuing to describe the cryptocurrency – a top ten digital asset by market cap – Hayes did not mince words: “The first wannabe Ethereum, and probably the first one to go to be irrelevant,” he said.

Typically, the popular crypto essayist and trader is well known as one of the loudest long-term Bitcoin (BTC) and Ethereum (ETH) bulls, and often expresses interest in small-cap cryptos for short-term trading.

During the same interview, Hayes even expressed interest in the memecoin “dogwifhat” calling it the “best dog money of this bull cycle.

“I love Rare Pepe’s… I think we’re going to see a resurgence of NFT trading volumes,” he added.

The writer’s unique callout of Cardano ruffled some feathers online – especially with the network’s founder, Charles Hoskinson. On Tuesday, Hoskinson asked Hayes why he was “throwing shade” at Cardano.

“Cause your coin is a piece of shit man,” Hayes replied. “Just buy some ETH and chill.”

What Makes Cardano Unique?

Much like Ethereum, Cardano is a smart contract platform for developing decentralized applications. It also popularized as one of the first well-developed proof-of-stake cryptocurrencies, which use crypto rather than energy to secure its network.

However, many popular blockchains today now use the same mechanism, with Ethereum undergoing a massive upgrade in 2022 to adopt proof of stake. In terms of both market size and DeFi TVL, Cardano is still outsized by competitors like Ethereum, Solana, and Binance Smart Chain (BSC).

On Tuesday, Hayes published a list of the world’s most popular Dapps, and asked which of them had originated or grown most popular on the Cardano blockchain.

“From my very limited knowledge, it looks like none of them do,” he said. “That’s why ADA is dog shit.”

On Bitcoin, however, Hayes remains a bull, expecting strong money printing from the Federal Reserve to drive the asset’s price up soon.

“When printing money happens and you debase the value of time and human labor, we rejoice and say great, fuck you, we’re gonna take Bitcoin to a million,” he told Coin Bureau.

Late last year, Hayes predicted that Bitcoin would reach between $750,000 and $1 million by the end of 2026.

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Ethereum

Crypto Markets Experience Minor Setback as Major Coins Dip, While Select Tokens Buck the Trend

On Wednesday, the crypto market experienced a modest downturn, with a 1% decrease in its overall value across the board, as bitcoin and ethereum saw declines of 0.51% and 0.45%, respectively. Bitcoin momentarily reached the $53,000 mark the day prior, while ether soared past the $3,000 threshold on Tuesday…
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Ethereum

Ethereum Technical Analysis: ETH Highlights Resilience Across Several Timeframes

Ethereum started Monday with its price hitting $2,934 per unit, marking a week filled with a strong 14.9% increase. Over the preceding fortnight, the second-leading crypto asset by market cap witnessed a substantial 25.9% upswing. Kicking off this week, ether’s trading volume over the past 24 hours has hovered around $24.74 billion…
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