Metaverse and memecoin projects hit the top 20 of individual investment giant eToro, while several other cryptocurrencies have seen sharp drops in open interest. For details cryptocoin.com keep reading.
Metaverse and meme coin projects also took their place in eToro’s list
Data from retail investment and trading platform eToro has revealed cryptos that have fallen like a rock among their global client base and are closing in on the rankings. While market cap listings can provide an approximation of popularity, they are a very rough measure with many interlocking factors. They also make no distinction between individual investors and institutional or VC buyers.
eToro has 23 million users worldwide, so open interest numbers can give a clearer idea of the change in the individual investing crypto market. The Trade platform has shared the following top 20 rankings for the end of 2021 compared to 2020.
The first thing that stands out is that despite the weakness experienced late last year, Bitcoin has really grown in popularity. While most older cryptocurrencies have fallen out of favor, the original remains bright enough to hold it firmly in the number one spot, with a 223% increase in open interest.
Another thing that stands out is Ethereum’s relegation to third place in eToro by rival Blockchain Cardano. Away from Bitcoin and Ethereum, the ‘old’ generation cryptos have been hammered. The likes of Ripple (XRP), Stellar (XLM), and Litecoin (LTC) have gained popularity among eToro users.
Dash (DASH), EOS (EOS), Tezos (XTZ), Bitcoin Cash (BCH), and NEO (NEO) also saw notable declines in just 12 months. Meme coin projects Dogecoin and Shiba Inu, which took the 4th and 7th place respectively, took their places in the lists. Metaverse coin project Decentraland (MANA) has made a splash, jumping straight to 13th place. Blockchain Solana (SOL) and Oracle token Chainlink (LINK) started the year as new tokens on the platform, but ended the year in the top 20 most opened positions.
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