Metaverse, NFTs and Dogecoin alts amongst fastest growing cryptos on eToro whilst bitcoin remains most popular

  • Bitcoin, cardano and ether remain the most widely held cryptos in Q3
  • Decentraland (MANA) was the fastest growing crypto over 12 months, with a 437% rise in clients holding it

04 October 2022: The Metaverse, NFTs and Ethereum alternatives were among the key themes driving the fastest rising cryptoassets on the eToro platform in the past 12 months, while the top 10 most held remained stable. 

The fastest rising cryptoasset on the eToro platform over 12 months, in terms of the number of clients holding it, was Decentraland (MANA), up 437%. Decentraland is a virtual reality blockchain platform at the centre of the Metaverse sector. In second place was Dogecoin alternative Shiba (SHIB), up 269%, while NFT and gaming tech maker Enjin came in third, up 229%. 

Simon Peters, crypto market analyst at eToro, commented: “The top rising cryptoassets on the eToro platform in the past 12 months reflect an interest in certain key themes for investors in the market. The Metaverse has been a major new frontier and that is reflected in the exponential growth in open positions of MANA. Although crypto markets have been difficult in recent months, NFTs and other important crypto infrastructure projects are also well represented in the top 10 fastest risers, indicating real interest in some of the most innovative projects in the past year.”

eToro global cryptoassets – biggest year-on-year risers at end of Q3 2022
Cryptoasset Q3 2022 vs Q3 2021 increase
Decentraland 437%
Shiba (in millions) 269%
Enjin 229%
Polygon 107%
Basic Attention Token  107%
Algorand 90%
Aave 82%
Maker 80%
Compound 68% 49%

Source: eToro platform data, 30th September 2022. 

In the past three months, the top 10 most held cryptoassets on the eToro platform have remained stable, with bitcoin holding the top spot, Cardano second and ether third. Open positions in bitcoin rose 1.7%, while cardano was down 1.2% and ether up 3.1%. The biggest faller in percentage terms was TRON, down 2.8%.

Year-on-year there is more movement, with Decentraland and Shiba both cracking the top 10 thanks to their major growth in open positions.

eToro most held cryptoassets globally at the end of Q3 2022
Cryptoasset Rank (end of Q3 2022) Rank (end of Q2 2022) Rank (end of Q3 2021)
Bitcoin 1 1 2
Cardano 2 2 1
Ether 3 3 4
XRP 4 4 3
Dogecoin 5 5 5
Shiba (in millions) 6 6 16
TRON 7 7 6
Stellar 8 8 7
IOTA 9 9 8
Decentraland 10 10 22

Source: eToro platform data, 30th September 2022. Past performance is not an indication of future results

Peters added: “The top 10 most held cryptoassets on the eToro platform remain unchanged in Q3. This stability reflects a tough period for markets, but also affirms a long-term buy-and-hold strategy among the investors in those assets, suggesting they’ve looked beyond short-term market volatility. When investing in crypto, like any other asset class, time in the market not timing the market is the key to providing the best long-term prospects for wealth growth.”

– ENDS –

Notes to editors

The data in the tables represents the top 10 biggest cryptoasset risers and the top 10 most held cryptoasset positions (open positions) by global investors on the eToro platform between Q3 2021 and Q3 2022; it does not include positions held as CFDs or in Smart Portfolios. Data accurate as of 30th September 2022.

To note, this press release references some coins which are currently unavailable to eToro users in the US.

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