Table of Contents
Main conclusions
Decentraland has added more holders than any token since last year, up 469% according to eToro Top 3 include MANA (metaverse), SHIBA (meme) and ENJ (gaming) Bitcoin is the most popular cryptocurrency, pushing the leader Last year’s Cardano to 2nd largest Shiba on the rise jumped from 16th most popular to 6th among eToro investors Prices in cryptocurrency markets are only going in one direction this year – down. However, despite the bloodbath, when you zoom out and consider the number of investors that have entered the space in recent years, adoption has increased enormously. Looking at eToro data, we assess which coins have grown the most in popularity among cryptocurrency investors this year.
Decentraland is the fastest growing cryptocurrency
Looking at investor growth compared to the same period last year, there is a wide variety of coin types appearing in the top 10. Chief among them is the Decentraland metaverse token, with a staggering 437% increase in holders on eToro in compared to the third quarter of last year. The metaverse token has gone through a roller coaster over the same period. Trading at this same time last year at $0.78, it rose to $5.48 before falling back to earth to trade at $0.70 – lower than a year ago. The growth in holders will be pleasant news as Decentraland looks to continue building its virtual reality blockchain world. She also appeared involved in a story about how low her users were last month, but the report appeared to be misleading. Still trading in the top 50 cryptocurrencies with a market cap of over $1 billion, but with more and more rivals in this space, Decentraland will be interesting to follow going forward. To almost no one’s surprise, SHIBA is in second place with a strong growth of 269% in holders compared to the same period last year. The Dogecoin alternative has taken the cryptocurrency world by storm this year, printing absolutely incredible gains. Reaching a market cap of $41 billion at its peak, SHIBA is now 87% below that mark. With 269% of extra users holding the puppy token compared to last year, it’s tempting to imagine how many of these laggards are firmly in the red. Enjin rounds out the top 3 blockchain gaming token. Perhaps nothing sums up the broad reach of cryptocurrencies more than the top 3 movers over the past year, occupying the contrasting spaces of a metaverse token, a meme and a game token.
Shiba: the biggest growth potential
Looking at cryptocurrencies by the total number of users, Bitcoin is surprisingly the biggest. The original cryptocurrency ranked second on eToro last year, behind Cardano, which has a notoriously fervent community. Ethereum comes in third, but it’s really Shiba’s jump that’s the most shocking over last year. The meme token was ranked sixteenth in Q3 2021, but is now in sixth place, just one place behind the famous Dogecoin. Imagine predicting this last year.
final thoughts
It has obviously been a torrid year for cryptocurrencies. The macro environment is the worst it has been in the short life that the cryptocurrency has existed – remember, Satoshi only launched Bitcoin in 2009. The numbers above help to show that when you zoom out and look at the underlying fundamentals, the trajectory long-term trend of cryptocurrencies is still on the rise. Sure, there are a lot of tokens dropping to zero, but there are also projects with thousands of investors that barely existed last year.
