The rapidly rising altcoin, Cardano (ADA) which saw a 67 percent hike during Q1, has now acquired the position of the most held crypto asset by investors of eToro US in Q2. Where top cryptocurrency Bitcoin’s steady speed of a 42 percent rise in demand could not beat Cardano for the top spot.
Check out the most HODL'd cryptoassets on eToro in Q2 2021: pic.twitter.com/uC2rsFRSn0
— eToro US (@eToroUS) July 6, 2021
BTC, ETH, & DOGE – need to catch up
Cardano has been on a bullish surge in the wake of Grayscale Digital Large Cap Fund which also indicates its growing institutional demand. Ethereum, which is claimed to be the most reliable altcoin by the ETH community could not even secure the first runner-up position, despite gaining 225 percent till now in 2021 and gained popularity with the impressive 79 percent increase in investors holding the asset. Whereas, the controversial meme coin and Elon Musk’s favorite, Dogecoin came in second and became the second most held coin.
The eToro crypto market analyst revealed their platform has seen a surge in demand for coins which is less costly per unit where holders can buy a whole coin rather than a fraction.
“Rather than focus solely on Bitcoin and Ether, where many investors can only own a fraction of a coin, we are seeing increasing demand for lower-priced coins,” said Simon Peters, a crypto market analyst at eToro.
Cheaper & Better – TRX & ETC gain popularity
Smaller coins like Tron (TRX) and Ethereum Classic (ETC) have shown a quarterly increase. Where TRX presented a 163 percent increase in users holding the assets worldwide in Q2, ETC having a 151 percent hike compared to Q1.
eToro US pointed out that the attitude of people towards crypto has been turning more and more optimistic and new investors are seeking harvesting trust and confidence towards crypto in 2021. This has led to an increase in the number of crypto assets held during the last quarter. Comprehensively, 2021 is turning out to be the year of innovative technology and decentralized markets.
“Cryptoassets have had an exciting year, with big milestones achieved in terms of price movements and increased institutional investment signaling more adoption by the traditional financial services ecosystem,” said Simon Peters
- Breaking: Polygon, Major Blockchains Hit With Network Attack
- New Crypto Rules In Europe: A Global Standard For Regulation?
- Third Biggest Whale Adds 1,416 Bitcoins In Last 2 Days; Will This Pump BTC?
- ‘Big Short’ Michael Burry Says Bitcoin Crash Is Only Halfway Through
- These Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal
- Breaking: El Salvador Buys 80 Bitcoin (BTC), Here’s How Prices Reacted
- U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam
- Canada-based Ledn Challenges FTX’s Bid of BlockFi Acquisition With Better Proposal
- Just In: Basel Committee Proposes Cap For Banks’ Bitcoin Holding
- Dogecoin (DOGE), Shiba Inu (SHIB) Show Strength, Here’s Why
- Polygon Price Analysis: V-top Reversal may Direct MATIC to $0.31 Support
- ETH Price Analysis: Is Ethereum Dropping To Three Digits?
- Bitcoin Price Analysis- BTC on Losing Streak Nearing $17800; Will it Hold?
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?