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August 10, 2022
EDITORIALOP-EDOPINIONPOINTS OF VIEW

Cardano maintains top position in Romania, while Bitcoin returns to top spot on eToro platform globally

  • Bitcoin has returned to top spot of most-held cryptoassets on the eToro platform globally, overtaking Cardano for the first time in 2022
  • Shiba goes from unranked to the sixth most held cryptoasset in one year
  • Decentraland (MANA) jumps 11 places as the metaverse holds investors’ attention

Bitcoin has reclaimed the title of the most widely held cryptoasset on the eToro platform globally, knocking off public blockchain platform token Cardano for the first time in 2022. Meanwhile Romanian investors continue to prefer Cardano over Bitcoin.

Despite market adversity in 2022, the number of eToro users holding the world’s biggest cryptoasset rose by 9% in Q2, suggesting that resilient retail investors remain committed to the token for the long term. Holdings of Cardano were down fractionally, by less than one percent, leaving it in second place in the top 10 most held cryptoassets globally.

In Romania, Cardano remains the most held cryptoasset, while the number of users holding Bitcoin since the end of Q1 2022 rose 11%, overtaking Ether for second place.

A notable mover in the global list was Decentraland (MANA) which saw a jump from the 21st most held crypto in Q2 2021 to 10th in Q2 2022. Decentraland is a virtual reality blockchain platform which aims to allow users to purchase, build and monetise applications in the metaverse.

Simon Peters, crypto market analyst at eToro commented: “There’s no hiding the fact that the crypto market has had a difficult spell in the last quarter. However investors on eToro are showing their resilience, whilst keeping faith with the cryptos with the biggest heritage and market cap, such as bitcoin and ether. The rise of Decentraland also demonstrates that investors still see the long-term value of other, more future-gazing projects, particularly when it comes to the metaverse.”

 

eToro most held cryptoassets globally at the end of Q2 2022
Cryptoasset Rank (end of Q2 2022) Rank (end of Q2 2021)
Bitcoin 1 2
Cardano 2 1
Ether 3 3
XRP 4 4
Dogecoin 5 5
Shiba (in millions) 6 N/A
TRON 7 8
Stellar 8 9
IOTA 9 10
Decentraland 10 21

Source: eToro platform data, 30 June 2022

 

 

eToro most held cryptoassets in Romania at the end of Q2 2022
Cryptoasset Rank (end of Q2 2022) Rank (end of Q2 2021)
Cardano 1 1
Bitcoin 2 3
Ethereum 3 2
XRP 4 4
Dogecoin 5 5
Shiba (in millions) 6 N/A
TRON 7 6
Solana 8 N/A
Decentraland 9 N/A
Stellar 10 7

Source: eToro platform data, 30 June 2022

 

Looking at those cryptoassets with the biggest increases in holders over Q2, the list is dominated by newer projects such as Hedera Hashgraph and Storj, and high-profile new market entrants such as Avalanche and ApeCoin. DeFi blockchain platform Fantom saw a 153% (285% in Romania) increase in open positions and Avalanche was up 87% (114% in Romania), while Gala rose 109% globally and Theta had a 152 % increase In Romania. All of the top 10 fastest growing open positions on the eToro platform were new entrants in Q1 2022 globally.

 

At the other end of the spectrum, among the biggest fallers globally were Chiliz, down 4%, TRON down 3% and EOS, down 3%. Overall however, investors are still net positive on the crypto market. The number of cryptoassets which saw an increase in open positions was 34 vs 24 which saw a decrease.

 

 

eToro global cryptoassets – biggest risers at end of Q2 2022
Cryptoasset Q2 vs Q1 2022 increase
Fantom 153%
Gala 109%
Avalanche 87%
Storj 79%
Theta 73%
ApeCoin 61%
Hedera Hashgraph 45%
Ankr 42%
0x 40%
dYdX 38%

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

 

eToro cryptoassets – biggest risers in Romania at end of Q2 2022
Cryptoasset Q2 vs Q1 2022 increase
Fantom 285.37%
Theta 152.38%
Avalanche 114.58%
Gala 103.87%
Storj 88.00%
Balancer 59.09%
Loopring 54.95%
ApeCoin 53.82%
dYdX 52.17%
Ankr 45.26%

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

 

Peters added: “Crypto valuations are most certainly depressed, and it is impossible to say when the slump will conclude. Prices have moved in step with equities which have been increasingly factoring in rate hikes and a possible recession. However, there are still new investors buying into a large selection of cryptoassets, and many more who continue to hold, indicating that the market still has a strong future in the eyes of retail investors.”

 

 

 

Notes to editors

 

The data in the tables represents the top 10 biggest cryptoassets risers and the top 10 most held cryptoasset positions (open positions) by global investors and Romanian investors on the eToro platform during Q1 2022; it does not include positions held as CFDs or in Smart Portfolios. Data accurate as of 30th June 2022.

To note, the following tokens were added to the platform in Q1 2022: ApeCoin, Fantom, Theta, Gala, Storj, Hedera Hashgraph, dYdX, Ankr, Ox, Avalanche.

 

About eToro

 

eToro is a multi-asset investment platform that empowers people to grow their knowledge and wealth as part of a global community of successful investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 27 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

 

 

 

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