Cardano Tops eToro’s List of Most Held Cryptoassets for Q2

By: John Hill

2021-11-30

Based on eToro’s data for the second quarter (Q2) of this year, Cardano (ADA) has taken the top spot in its list of the most held cryptoassets with whopping increase of 51%.

eToro’s Market Analyst Simon Peters stated:[1]


During Q2, Cardano provided a clearer roadmap for its upcoming Alonzo hardfork – currently in a testing phase. If successful, it will bring smart contract functionality by allowing the writing and deployment of smart contracts for the first time on the Cardano blockchain. This upgrade will be significant as it will enable developers to build projects on the network, helping Cardano to position itself as a real ‘competitor’ to the likes of Ethereum. The price of ADA climbed 15% over the last quarter, suggesting investor optimism around the Alonzo hard fork and Cardano’s ability to challenge Ethereum long-term.

The top spot used to be held by Bitcoin (BTC) which had an increase of 42%. Meanwhile, Ethereum (ETH), which was at 4th spot for Q1 of this year, improved its ranking by one notch as it made it to the third spot thanks to its notable increase of 79%.

Take note that the Ethereum network’s London hardfork has not yet commenced as of this writing and this is expected to improve the cryptoasset’s functionality. Another much awaited event is the Serenity or the transition to Ethereum 2.0 which is expected to happen in 2022.

 

Position Cryptoasset Q1 2021 Position Q2 2020 Position Trading Page
1 Cardano (ADA) 2 6 https://www.etoro.com/markets/ada
2 Bitcoin (BTC) 1 2 https://www.etoro.com/markets/btc
3 Ethereum (ETH) 4 3 https://www.etoro.com/markets/eth
4 Ripple (XRP) 3 1 https://www.etoro.com/markets/xrp
5 Dogecoin (DOGE) N/A N/A https://www.etoro.com/markets/doge
6 Tron (TRX) 6 13 https://www.etoro.com/markets/trx
7 Stellar Lumens (XLM) 5 5 https://www.etoro.com/markets/xlm
8 IOTA (MIOTA) 8 11 https://www.etoro.com/markets/miota
9 Litecoin (LTC) 7 4 https://www.etoro.com/markets/ltc
10 Ethereum Classic (ETC) 12 9 https://www.etoro.com/markets/etc
Top cryptoassets held by eToro clients globally (Q2 2021)

Look: It’s common for traders to invest on cryptocurrencies that have huge market caps but the latest data has revealed that the most notable increases were from altcoins that had smaller market caps such as Tron (TRX) and Ethereum Classic (ETC). It has also shown that more retail investors are investing on cryptocurrencies in spite of the recent market correction.

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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

References


  1. ^ Smaller cryptoassets in demand as eToro investors seek diversification eToro
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