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Investors rewarded for loyalty to major cryptocurrencies

Investors rewarded for loyalty to major cryptocurrencies

created Forex ClubApril 14 2023

According to the latest data from eToro, the largest cryptocurrencies have retained the trust of investors. The quarterly update of the social investment platform shows that the top 3 most held cryptocurrencies remain mostly unchanged from Q2022 XNUMX. Bitcoin, cardano and ethereum occupy the top three spots, as in previous months.

In a nutshell:

  • Safe-haven coins such as bitcoin, cardano and ether remain popular among Polish investors
  • However, smaller tokens see the biggest jump in users as investors seek lower entry points into the market
  • On the global stage, Terra 2.0, and Immutable X making significant gains as investors seek the "next bitcoin"

Which cryptocurrencies gained the most?

Looking at global trends, the biggest movement was seen in smaller tokens, where Terra 2.0 (+110%), (55%) and Immutable X (47%) saw the largest increase in users. Interestingly for Polish participants of the cryptocurrency market, Terra jumped from 23rd to last place in the top ten most-held shares in Poland at the end of the last quarter.

Simon Peters, Cryptocurrency Market Analyst at eToro, commented:

After a difficult 2022, it looks like cryptocurrencies may turn their backs on each other, with March results providing optimism that 2023 could be a much better year for investors, with Bitcoin up more than 68%. since the beginning of the year. The vast majority of our cryptocurrency trading users have held their positions over the last 12 months, and many of them will now be keeping a close eye on the next potential asset rally.

We have also seen interest in some lesser-known cryptocurrencies, such as Terra 2.0, which is currently the 10th most popular cryptocurrency asset in Poland. As with stocks, some investors like to buy cheaper, less mainstream coins in hopes of strong returns. Understanding the use cases of each cryptocurrency is key when adopting this approach, but with readily available information, reading and understanding their USP metrics means investors can take on smaller projects early on.

Table 1: Most held cryptocurrencies on eToro in Poland

Kryptowaluta Current ranking Ranking at the end of Q4 2022
Bitcoin 1 1
Ethereum 2 2
Cardano 3 3
Dogecoin 4 4
XRP 5 5
Shiba (in millions) 6 6
Terra Classic 7 7
TRON 8 8
Songbird 9 9
Terra 2.0 10 23

Source: eToro platform data, hours 24:00, April 1, 2023

Table 2: Cryptocurrencies with the largest proportional increase in holders quarter-on-quarter globally

Kryptowaluta Increase in the number of QoQ owners in percent
Terra 2.0 + 110 % + 55 %
Immutable X + 47 %
Livepeer + 36 %
Orchid + 35 %
Rock Network + 30 %
Bancor + 28 %
Gala + 24 %
dYdX + 23 %
Amps + 21 %

Source: eToro data, 24:00, April 1, 2023. Past performance is not a guide to future performance.

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Forex Club
Forex Club is one of the largest and oldest Polish investment portals - forex and trading tools. It is an original project launched in 2008 and a recognizable brand focused on the currency market.