Metaverse, NFT and Dogecoin alternatives among the fastest growing cryptocurrencies

metaverse, NFT and alternatives Ethereum were among the key drivers of the fastest growing cryptocurrencies on eToro platform in the past 12 months, while the top 10 have remained stable.

• Bitcoin, cardano and ethereum remain the most-held cryptocurrencies in QXNUMX
• Decentraland (MANA) was the fastest growing cryptocurrency in 12 months, with 437 percent. an increase in the number of holders

Decentraland is gaining popularity

The fastest growing cryptocurrency on the platform eToro in 12 months, in terms of the number of customers having it, was Decentraland (MANA) - increased by 437 percent Decentraland is a virtual reality blockchain platform at the heart of the Metaverse sector. The Dogecoin alternative came in second place - Shiba (SHIB), with an increase of 269%, while NFT and game technology maker Enjin came in third, with an increase of 229%.

Simon peters, Cryptocurrency Market Analyst at eToro, commented:

“The best growing cryptocurrencies on the eToro platform in the last 12 months reflect the interest in certain topics that are crucial for investors in the market. The metaverse was groundbreaking and this reflects the exponential growth of MANA open positions. While the cryptocurrency markets have been tough in recent months, NFT and other major cryptocurrency infrastructure projects are also well represented in the top ten fastest growing, indicating a genuine interest in some of the most innovative projects of the past year. "

Bitcoin is the king of cryptocurrencies

Over the past three months, the top 10 cryptocurrencies held on eToro have remained stable, with Bitcoin holding first, Cardano in second and ethereum in third. Open positions in bitcoinie grew by 1,7%, while Cardano fell by 1,2% and ethereum grew by 3,1%. The biggest decrease in percentage terms was TRON, which fell by 2,8 percent.

On an annual basis, there is more movement, with Decentraland and Shiba entering the top ten thanks to a large increase in open positions.

Simon Peters adds:

“The top 10 most-held cryptocurrencies on the eToro platform remains unchanged in QXNUMX. This stability reflects a difficult period for the markets, but also confirms a long-term strategy buy-and-hold among investors of these assets, suggesting they looked beyond short-term market volatility. When investing in cryptocurrencies, as with any other asset class, not timing and timing in the market is key to securing the best long-term capital growth prospects. "