Bitcoin, Cardano, and Ether remain the most widely held cryptos in Q3
Decentraland (MANA) was the fastest-growing crypto over 12 months, with a 437 per cent rise in clients holding it globally
Decentraland and Shiba were among the fastest-rising cryptoassets on the eToro platform in the past 12 months, while the top 10 most held remained stable.
The fastest rising cryptoasset on the eToro platform over 12 months (figure 1), in terms of the number of clients holding it, was Decentraland (MANA), up 437 per cent. Decentraland is a virtual reality blockchain platform at the centre of the metaverse sector. In second place was Shiba (SHIB), up 269 per cent.
Figure 1:
| eToro global cryptoassets – biggest year-on-year risers at end of Q3 2022 | |
| Cryptoasset | Q3 2022 vs Q3 2021 increase |
| Decentraland | 437% |
| Shiba (in millions) | 269% |
| Enjin | 229% |
| Polygon | 107% |
| Basic Attention Token | 107% |
| Algorand | 90% |
| Aave | 82% |
| Maker | 80% |
Source: eToro platform data, 30th September 2022
Simon Peters, crypto market analyst at eToro, commented: “The top rising cryptoassets on the eToro platform in the past 12 months reflect an interest in certain key themes for investors in the market. The metaverse has been a major new frontier and that is reflected in the exponential growth in open positions of MANA. Although crypto markets have been difficult in recent months, the fastest risers indicate real interest in some of the most innovative projects in the past year.”
In the past three months, the top 10 most held cryptoassets on the eToro platform globally (figure 2) have remained stable, with Bitcoin holding the top spot, Cardano second and ether third. Open positions in bitcoin rose 1.7 per cent, while cardano was down 1.2 per cent and ether up 3.1 per cent. The biggest faller in percentage terms was TRON, down 2.8 per cent. The behaviour recorded for Australian users followed a similar trend.
Figure 2:
| eToro most held cryptoassets globally at the end of Q3 2022 | ||||
| Cryptoasset | Rank (end of Q3 2022) | Rank (end of Q2 2022) | Rank (end of Q3 2021) | Rank (end of Q3 2022 in Australia) |
| Bitcoin | 1 | 1 | 2 | 1 |
| Cardano | 2 | 2 | 1 | 2 |
| Ether | 3 | 3 | 4 | 3 |
| XRP | 4 | 4 | 3 | 4 |
| Dogecoin | 5 | 5 | 5 | 6 |
| Shiba (in millions) | 6 | 6 | 16 | 5 |
| TRON | 7 | 7 | 6 | 10 |
| Stellar | 8 | 8 | 7 | 12 |
| IOTA | 9 | 9 | 8 | 15 |
| Decentraland | 10 | 10 | 22 | 8 |
Source: eToro platform data, 30th September 2022. Past performance is not an indication of future results.
Year-on-year there is more movement, with Decentraland and Shiba both rising to the top 10 thanks to their major growth in open positions.
Simon Peters added: “The top 10 most held cryptoassets on the eToro platform remain unchanged in Q3. This stability reflects a tough period for markets, but also affirms a long-term buy-and-hold strategy among the investors in those assets, suggesting they’ve looked beyond short-term market volatility. When investing in crypto, like any other asset class, time in the market not timing the market is the key to providing the best long-term prospects for wealth growth.”