• Bitcoin, Cardano and Ether remain the most widely held crypto assets in the third quarter.
• Decentraland (MANA) is the fastest growing crypto asset over the past 12 months, with a 437% increase in the number of clients holding it.
The fastest growing crypto-asset on the eToro platform over the past 12 months, measured by the number of clients holding it, is Decentraland (MANA), up 437%. Decentraland is a virtual reality blockchain platform at the center of the Metaverse industry. Second place is held by Shiba (SHIB), an alternative to Dogecoin, up 269%, while NFT and gaming technology maker Enjin comes in third, up 229%.
Simon Peters, cryptocurrency market analyst at eToro, commented: “The highest rising crypto assets on the eToro platform over the last 12 months reflect the interest of certain key themes for investors in the market. Metaverse has been a major new frontier and this is reflected in the exponential growth of MANA’s open positions Although cryptoasset markets have been challenging in recent months, NFTs and other major cryptoasset infrastructure projects are also well represented in the 10 fastest risers, indicating real interest in some of the most innovative of recent year’s projects.”
Over the past three months, the top 10 most-held cryptoassets on the eToro platform have remained stable, with Bitcoin taking first place, Cardano second and Ether third. Open positions in Bitcoin rose 1.7%, while Cardano fell 1.2% and Ether rose 3.1%. The biggest percentage loser was TRON, down 2.8%.
Year-on-year, the movement is more significant, as Decentraland and Shiba both enter the top 10 thanks to the significant increase in vacancies.
Simon Peters added: “The 10 most-held cryptoassets on the eToro platform remain unchanged in the third quarter. This stability reflects a difficult period for the markets, but also confirms a long-term buy-and-hold strategy among investors in these assets, suggesting that that they have looked beyond short-term market volatility. When investing in a crypto asset, as with any other asset class, timing the market, not market timing, is the key to delivering the best long-term prospects for wealth growth.”
eToro is a multi-asset investment platform that allows people to grow their knowledge and wealth by being part of a global community of investors. eToro was founded in 2007 with the vision of opening global markets so that everyone can easily and transparently trade and invest. Today, eToro is a global community of over 30 million registered users who share their investment strategies; and anyone can follow the approach of those who have been most successful. Thanks to the simplicity of the platform, users can easily buy, hold and sell assets, monitor their portfolio in real time and trade when they want.
Cryptocurrency investment is offered by eToro (Europe) Ltd as a DASP, registered with the AMF. Investing in crypto assets is very volatile. No consumer protection.
eToro is regulated in Europe by the Cyprus Securities and Exchange Commission, in Australia by the Australian Securities and Investments Commission and in the UK by the Financial Conduct Authority. eToroX is incorporated in Gibraltar with company number 116348 and its registered office is at 57/63 Line Wall Road, Gibraltar. Its Distributed Ledger Technology (DLT) provider license was granted by the Gibraltar Financial Services Commission in December 2018 (license number FSC1333B).