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January 26, 2023

eToro: Investors sought crypto safe havens in 2022 with cardano and bitcoin retaining top spots

  • Bitcoin saw 20% increase globally in open positions in 2022 despite price volatility
  • Globally, Solana saw largest increase among top 10, with open positions rising 33%
  • Just one change to the top 10 cryptoasset list with Decentraland falling out, replaced by Solana

Cryptoasset investors coalesced around big crypto names in 2022 as the market faced significant price volatility. Bitcoin retained the top spot among eToro’s most held cryptoassets, with the number of eToro users globally holding open positions increasing by 20% year on year , with ether (2%) and Solana (+33%) also significant risers in the top 10.

Among those that lost ground were TRON (-11%), Shiba (-5%) and IOTA (-4%). There was little overall change in the top 10 most held cryptoassets over 12 months, Decentraland fell to 12th place from 10th, despite open positions rising by 1%. Decentraland was replaced in the top 10 by Solana, which rose from 12th a year ago.


Most widely held cryptoassets with eToro globally 2022 vs 2021
Cryptoasset 2022 ranking 2021 ranking % change in users
Bitcoin 1 1 +20%
Cardano 2 2 -2%
Ethereum 3 3 +12%
XRP 4 (up 1) 5 +1%
Dogecoin 5 (down 1) 4 -3%
Shiba (in millions) 6 (up 1) 7 -5%
TRON 7 (down 1) 6 -11%
Stellar 8 8 -5%
IOTA 9 9 -4%
Solana 10 12 +33%

Source: eToro platform data 00:00am 1st January 2023.

Among Romanian users there was little change in the top 10 most held cryptoassets over the last 12 months. Cardano and Bitcoin remain the most popular followed by Ethereum up 1 place from 2021.


Most widely held cryptoassets with eToro in Romania 2022 vs 2021
Cryptoasset 2022 ranking 2021 ranking
Cardano 1 1
Bitcoin 2 2
Ethereum 3 (up 1) 4
XRP 4 (down 1) 3
Dogecoin 5 5
Shiba (in millions) 6 6
TRON 7 7
Solana 8 (up 3) 11
Decentraland 9 9
Stellar 10 (down 2) 8

Source: eToro platform data 00:00 am 1st January 2023.


Simon Peters, crypto market analyst at eToro commented: “2022 was a tough year for cryptoasset investors, with significant price volatility that the market hasn’t experienced since 2018. Our data from 2022 show that investors sought safe haven cryptos such as bitcoin and ether. Bitcoin stands apart from other projects as it is the original decentralised cryptoasset, while Ethereum has seen high-profile developments in the past year, including the much anticipated Merge.”

Outside of the top 10, the cryptoassets that experienced the largest growth in open positions on the eToro platform over 12 months were The Sandbox (+203%), Quant (+52%) and Axie Infinity (+32%). These cryptoassets rank 27th, 41st and 39th respectively on the platform for open positions.


Cryptoasset which saw biggest rise in open positions with eToro globally in 2022
The Sandbox 203%
Quant 52%
Axie Infinity 32%
Solana 33%
Filecoin 27%
Cosmos 26%
Algorand 25%
Polygon 20%
Bitcoin 20%
Celo 19%

Source: eToro platform data 00:00 am 1st January 2023 . Past performance is not an indication of future results.


Peters added: “Despite the volatility of the past year, around half of the cryptoassets on the eToro platform with at least 12 months of data have shown growth in open positions. This would suggest investors have continued to look toward the cryptoasset market for investment ideas and may have even been looking to pick up cryptoassets at a discounted price thanks to market weakness.”



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 in 2022 and 2021; it does not include positions held as CFDs or in Smart Portfolios. Data accurate as of 31st December 2022.


About eToro

eToro is a social investment network that empowers people to grow their knowledge and wealth as part of a global community of 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 30 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.

This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.

Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.



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