More young people jumping aboard the cryptocurrency train despite risks

SINGAPORE – When 21-year-old student Yong Jun put $2,800 into Ethereum in February this year, he did so with the view that it would be a long-term investment.

He was soon put to the test. In March, a digital art piece was sold as the world’s most expensive non-fungible token for around 38,000 Ether, worth about US$69 million (S$93 million). The rally on Ethereum that followed saw his investment, in slightly over one Ether, balloon to around $5,800 on paper but he held on.