More and more cryptocurrency transactions. Bitcoin is not the most popular at all

A year ago, most people associated cryptocurrencies with only one word and one coin: Bitcoin. Meanwhile, in the brokers' summaries of the first quarter of 2021, you can already see that the cryptocurrency market has started to mature. Bitcoin is no longer the most popular and is overtaken by many assets that until now were unknown to the wider public. Even speculative Dogecoin.

Cryptocurrencies = Bitcoin, Bitcoin = Cryptocurrencies. It is commonly believed that such a comparison persisted over the years, despite the fact that hundreds of other, often much more modern and simply better, cryptocurrencies were created during this time. Suffice it to say that capitalization of 82 largest of them exceeds USD 1 billion. Not total - each of them is worth more, because the 82nd place SwissBorg (CHSB) tokens are valued at exactly $ 1 at the time of writing. The first Bitcoin (BTC), in turn, is over USD 045 billion, and that's only because its price has dropped by 458% over the last month.

However, this diversity was known practically only in the world of blockchain technology for a long time. But recent broker data shows that "I will buy cryptocurrencies" it does not mean investing in BTC anymore.

Be sure to read: SHIBA INU Coin - in 6 months he earned $ 6 million, investing just $ 17.

The crypto fashion is changing faster 

Data on the most popular pairs, also on cryptocurrencies, has just been published Capital.com broker. It turns out that not many people were trading Bitcoin in the first quarter of 2021. On the top we have the following pairs: Dogecoin / USD, Ripple/ USD and Ethereum/ USD. So it turns out that mostly cryptocurrencies, which are alternatives to Bitcoin, such as Ether and Ripple, were bought (and sold), as well as speculatively fashionable Dogecoins. Derivatives on company shares were also very popular Gamestop and AMC. In the previous quarter, the most popular pair was Ripple / USD. Bitcoin was also overtaken by oil, gold, and even contracts Tesla shares.

Volatility is increasing, interest is increasing

In the broker summary Capital.com we also read that the first quarter of 2021, when a lot was happening on the cryptocurrency market and it became loud again (mainly due to the purchase of Bitcoins by Tesla and tweets of billionaire Elon Musk about Dogecoin), significantly improved the company's financial results. The broker boasts, among others an increase in the number of customers served as much as 233%which means that Capital.com currently supports it over 2 million traders from around the world. Along with the number of customers, the turnover volume also grows - by 78%, reaching USD 82 billion in the first quarter of 2021.

This is of course influenced not only by the greater interest in the cryptocurrency market, but also the financial market in general and the earning opportunities it creates. Virtually every broker currently has a larger base of retail clients who most often perform a large number of transactions, however, sometimes they are not well thought-out, which, even if sometimes translates into their profits, is always higher commissions for brokers. 

The rebound of stock exchanges after the pandemic is also of great importance, as well as the increasing prices of natural resources, such as clothing or goldwhich also drive the movement of the markets. Despite this, the uncertainty related to the coronavirus pandemic and lockdowns in different countries still affects the above-average volatility, which is the fuel of the entire financial market. Suffice it to say that in the first quarter of 2021, the number of transactions made through the Crypto.com broker increased by 240% compared to the last quarter of 2020. More and more of them also apply to pairs with cryptocurrencies.