Bitcoin and Ethereum Hold the Top Coin Spots, but Ripple’s XRP Is Proving to Be Much More Popular
The eToro social trading platform has seen plenty of activity from traders since it has been opened. Based on their recent activity, traders are saying that the most frequently traded crypto has been XRP, based on their unique open trades, according to an article by Daily HODL. In fact, last month’s report indicates that XRP has been able to trade ahead of Amazon, which is a major feat, though it is trailing close behind NSDQ100, Apple, Gold, and Oil.
In January last month, Apple became the most frequently traded stock on the market. Gold and oil were named the most traded instruments instead, according to a post from eToro on Twitter.
eToro Traders are mixing it up and trading on various instruments.
In January 2019, the most traded instruments were $Oil and #Gold. On tech, the most traded stock was #Apple, and the most traded crypto was #XRP. (By unique open trades). #eToroInsights pic.twitter.com/R3ihXCJZBY
— eToro (@eToro) February 26, 2019
A publication called Dapp Life shows the insights from eToro that show XRP’s interaction with 29,991 unique open trades. However, Bitcoin had somewhat less, only totaling 26,773 open trades, while Ethereum held steady at 25,148 trades. As far as financial instruments, open trades with oil, gold, Apple, and NSDQ100 were recorded as follows:
- Oil: 35,503
- Gold: 32,484
- Apple: 31,767
- NSDQ100: 37,683
Presently, as far as the UK-based investors on the eToro platform, the majority of these traders prefer to stick with stocks. However, last month, just under 12% of the same group of investors chose to trade cryptocurrencies.
The rest of the crypto market is still having a rough time. Senior market analyst Mati Greenspan spoke on what to expect from a bull run, and why they are not fast-paced, in an interview with Crypto Zombie. Greenspan said,
“Right now we are in a bear cycle. We saw some positive movements over the last few days, and I’m very happy about that. We saw volumes coming back into the market for the first time in months which is wonderful, but you don’t go from bear market to moon overnight.”
Greenspan opened up about how the bear market actually began two years sooner, in 2015. Elaborating, he said,
“The bull market of 2017 actually started in 2015. Once there was that quietness, the market was able to bottom out very gradually. If you look at the chart over that time period, you will see that it just kind of did some gradual gains like 1% or 2% in a month as people started using it for its original purpose. And then you got to the point where it’s 5% a month, 10% a month and then all of a sudden 2017 it started going 5% a week, 10% a week, and at the end of 2017 it’s like 50% a day.”
Still, he feels as if there is a “healthy” way for the industry to expand. Greenspan said,
“So that type of optimism and exuberance takes a while to build up. It doesn’t happen overnight. I think the most healthy way for Bitcoin going forward would be this kind of more gradual rise. The volatility when you see $20,000 coming back down – it’s fun to run up but it’s not fun to come down.”