Cardano (ADA) Is the Most Held Crypto Assets by eToro Users

Cardano (ADA) Is the Most Held Crypto Assets by eToro Users
  • ADA most held crypto asset in the second quarter of 2021.
  • The biggest move in Q2 came from smaller crypto assets like TRX and ETC.

eToro made a recent tweet about the crypto assets that are mostly held by its users. Notably, Cardano (ADA) has surpassed Bitcoin (BTC) in becoming the most held crypto asset in the second quarter of 2021.

In Q2 2021, ADA provides a clear roadmap for its upcoming Alonzo hardfork, which is in a testing phase right now. If successful, the crypto will bring smart contract functionality by enabling the writing and deployment of smart contracts on the Cardano blockchain for the first time. More so, this upgrade will significantly enable developers to create projects on the network, however, helping ADA to position itself as a real competitor like Ethereum (ETH). 

Added to this, the ADA price climbed 15% over the last quarter. According to CoinMarketCap, the ADA price is $1.34 with a 24-hour trading volume of $1,065,608,339, at the time of writing.

Other Most Held Crypto by eToro Users World-Wide

Crypto market has seen an exciting year with big milestones reached. However, increased institutional signals more adoption by the traditional financial services ecosystem. In line with this, crypto investors also saw bumps in the crypto market. Furthermore, retail investors need to be cautious of the risks while investing in crypto and doing their research before investing.

Most held crypto assets by eToro users globally in Q2 2021 (Source: eToro)

Even more, the biggest move in Q2 came from smaller crypto assets like Tron (TRX) and Ethereum Classic (ETC) which lead the charge. More so, the Tron (TRX) saw impressive gains, with a 163% surge in global users holding the asset in Q2 compared to Q1 of this year. Also, the Ethereum Classic saw a 151% rise quarter on quarter, along with a 247% year on year gain.

More so, many look for cheaper alternatives like ADA, MIOTA and TRX, all of which are priced around $1. With staking rewards present on eToro for Tron and Cardano, investors can now reap rewards for holding these assets long term which helps to drive demand.

Moreover, eToro is a multi-asset investment firm founded in 2007. It enables users to grow their knowledge and wealth. It is a global community with over 20 million registered users who share their investment methodologies. In addition, anyone can follow the method of those who have been the most successful. More so, users can buy, hold, sell, and monitor assets in their portfolio and can transact whenever they need.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.