Cardano Beats Bitcoin and Ethereum as the Most HODL’d Crypto Asset on eToro in Q2 2021
Increasing demand is seen for lower-priced coins as retail looks for cheaper alternatives with staking rewards allowing investors to reap the rewards for holding them long-term, further driving demand. The post Cardano Beats Bitcoin and Ethereum as the Most...
Cardano Beats Bitcoin and Ethereum as the Most HODL’d Crypto Asset on eToro in Q2 2021
- AnTy
- July 7, 2021
Increasing demand is seen for lower-priced coins as retail looks for cheaper alternatives with staking rewards allowing investors to reap the rewards for holding them long-term, further driving demand.
Cardano, a popular coin among retail in 2021, remains the most held crypto by eToro US clients in Q2. It actually saw a 67% increase over Q1.
ADA beats the top cryptocurrencies like Bitcoin (BTC), which had a 42% increase in demand but still slipped from its first place, and Ethereum (ETH) and popular meme coins like Dogecoin which have the backing of Tesla CEO Elon Musk. ADA -0.09% Cardano / USD ADAUSD $ 1.43
$0.00-0.09% Volume 1.5 b Change $0.00 Open $1.43 Circulating 31.95 b Market Cap 45.72 b 24 min Cardano Beats Bitcoin and Ethereum as the Most HODL'd Crypto Asset on eToro in Q2 2021 1 d Inflows Recorded Across Digital Assets for the First Time in 9 Weeks: CoinShares Report 2 d Cardano (ADA) Gains 3rd Largest Weightage in Grayscale’s Rebalanced Large Cap Fund BTC 1.19% Bitcoin / USD BTCUSD $ 34,706.45
$413.011.19% Volume 26.98 b Change $413.01 Open $34,706.45 Circulating 18.75 m Market Cap 650.75 b 24 min Cardano Beats Bitcoin and Ethereum as the Most HODL'd Crypto Asset on eToro in Q2 2021 17 h Russian Ransomware Group, REvil, Attacks 200 Firms, Demands $70 Million in Bitcoin 18 h Former Cryptopia Employee, Admits to Stealing $175k Worth of Crypto from the Defunct Exchange ETH 2.29% Ethereum / USD ETHUSD $ 2,376.37
$54.422.29% Volume 23.48 b Change $54.42 Open $2,376.37 Circulating 116.6 m Market Cap 277.07 b 24 min Cardano Beats Bitcoin and Ethereum as the Most HODL'd Crypto Asset on eToro in Q2 2021 51 min Digital Asset Bank Sygnum Now Offers Ethereum 2.0 Staking To Clients 23 h Hot DeFi Summer Starting? Investors Might Get Left on the Sidelines as the Market Breaks Correlation
DOGE is now the 2nd most held crypto by US users on eToro, according to the brokerage company. DOGE -0.61% Dogecoin / USD DOGEUSD $ 0.23
$0.00-0.61% Volume 1.01 b Change $0.00 Open $0.23 Circulating 130.33 b Market Cap 30.51 b 24 min Cardano Beats Bitcoin and Ethereum as the Most HODL'd Crypto Asset on eToro in Q2 2021 2 d Jack Dorsey says “No” to ETH, but Twitter Shows Interest With its Free NFTs Displayed on Rarible 4 d Robinhood: Business & Financial Condition 'Could Be Adversely Affected' if Demand for DOGE Declines
Simon Peters, a crypto market analyst at eToro, said the use case potential for Cardano’s native ADA token provided attraction for investors.
“During Q2, Cardano provided a clearer roadmap for its upcoming Alonzo hard fork – currently in a testing phase,” said Peters, who noted that,
“If successful, it will bring smart contract functionality… for the first time on the Cardano blockchain.”
Up more than 700% YTD, this jump in prices suggests investor optimism around “Cardano’s ability to challenge Ethereum long-term,” he added.
Check out the most HODL'd cryptoassets on eToro in Q2 2021: pic.twitter.com/uC2rsFRSn0
— eToro US (@eToroUS) July 6, 2021
Ethereum, which has rallied 225% so far this year, also gained popularity with a 79% increase in investors holding the asset.
In Q2, smaller crypto assets like Tron (TRX) and Ethereum Classic (ETC) lead the charge, with the former seeing a 163% increase in global users holding the assets compared to Q1 and the latter having a 151% quarter on quarter rise. TRX 0.24% TRON / USD TRXUSD $ 0.07
$0.000.24% Volume 786.41 m Change $0.00 Open $0.07 Circulating 71.66 b Market Cap 4.7 b 24 min Cardano Beats Bitcoin and Ethereum as the Most HODL'd Crypto Asset on eToro in Q2 2021 1 w After Compound Finance, Now Coinbase is Offering Users 4% APY on USDC 1 mon Total Stablecoin Supply Surpasses $100 Billion; $70 Billion of it Issued Just This Year ETC -0.88% Ethereum Classic / USD ETCUSD $ 54.67
-$0.48-0.88% Volume 2.69 b Change -$0.48 Open $54.67 Circulating 116.31 m Market Cap 6.36 b 24 min Cardano Beats Bitcoin and Ethereum as the Most HODL'd Crypto Asset on eToro in Q2 2021 2 w 99% of Cryptocurrencies are 'Overpriced' per DCG’s Barry Silbert, But ETC Isn’t One of Them 1 mon In the Last Month, People Are More Interested In Trading Ethereum Than Bitcoin
“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,” explained Peters.
The market is basically looking for cheaper alternatives, which are priced around $1 with staking rewards allowing investors to reap the rewards for holding these assets long-term, further helping drive demand.
Overall, the multi-asset investment platform revealed increases in the numbers of crypto assets held during the last quarter, suggesting increasing confidence among people in cryptocurrencies.
“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.”
He further noted that long-term fundamentals remain strong despite the volatility, and issues like energy usage continue to hit the market as the “emerging asset class continues to revolutionize many aspects of financial services.”
Amidst this, eToro launched a “chip-tech” portfolio this week that comprises 35 companies that play varying roles in the semiconductor domain.
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.
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