The fastest growing cryptocurrencies on eToro- The Cryptonomist

According to eToro, Bitcoin, Cardano, and Ethereum are the most popular cryptocurrencies on its platform during the third quarter of 2022. 

Decentraland and Shiba Inu holders increase

Meanwhile, Decentraland (MANA) was the fastest-growing cryptocurrency over 12 months, with a 437% increase in clients holding it globally.

Decentraland and Shiba were among the fastest-growing cryptocurrencies on the eToro platform over the past 12 months, while the top 10 cryptocurrencies most held by the platform’s clients remained stable. 

Decentraland is a virtual reality company in the metaverse. 

Then in second place is Shiba Inu (SHIB) with a 269% increase as one of the most widely held cryptocurrencies by eToro users.

Simon Peters, cryptocurrency market analyst at eToro, commented as follows: 

“The highest-growing cryptoassets on the eToro platform over the past 12 months reflect the interest in certain key themes for investors in the market.

The Metaverse has been a major new frontier and this is reflected in the exponential growth of MANA’s open interest. While the crypto-asset markets have been challenging in recent months, NFTs and other major crypto-asset infrastructure projects are also well represented in the top 10 fastest-growing, showing genuine interest in some of the most innovative projects of the past year.”

Over the past three months, the 10 most held crypto assets on the eToro platform globally have remained stable, with Bitcoin in first place, Cardano in second and Ethereum in third. 

The latest news on Shiba Inu

By the end of July, 50% of tokens had been burned. According to data from ShibBurn.com, of the approximately one million billion tokens initially created, as many as 0.4 million billion have already been burned so far. Less than 0.6 million billion remain in circulation, of which 0.03 is locked in staking.

Perhaps partly because of this, the price of SHIBA during the summer had risen by a lot.

Bitcoin and Cardano on eToro

Open positions in Bitcoin rose 1.7%, while Cardano fell 1.2% and Ethereum rose 3.1%. 

The largest decline in percentage terms was in TRON, down 2.8%. The behavior recorded by Australian users followed a similar trend.

There was more movement compared to the previous year, with Decentraland and Shiba both rising in the top 10 due to significant growth in open positions.

Simon 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.”