XRP and smart contract platform Cardano (ADA) are reportedly the most popular crypto assets among retail traders in the UK.
Citing data from the social trading platform eToro, Finance Magnates says that in Q3 of 2021, retail investors in the UK chose XRP more than all other digital assets, allowing the altcoin to retain its position as the nation’s most popular cryptocurrency.
XRP ownership among eToro users increased 4% from Q2 and 105% year-on-year as the coin has seen steady growth since July. XRP opened the year $0.22 and is now valued at $1.09, according to CoinMarketCap.
eToro crypto market analyst Simon Peters tells Finance Magnates that XRP has a strong community of supporters who believe in the coin’s long-term potential.
“Whilst Bitcoin holdings ‘only’ increased 2%, its year on year increase is 325%, which is a demonstration of how crypto assets have captured retail investors’ imaginations over the past 12 months and showing how they’re a vital component of many portfolios. XRP is similar – its growth quarter on quarter is just 4% but a lot of our investors are holding it. Some bought it way back in 2017, others more recently.”
XRP’s popularity is followed by Cardano, which saw a growth of 11% in the past three months and 1,230% year-on-year in terms of ownership among eToro’s users. The fourth-largest cryptocurrency by market cap was worth $0.18 at the start of the year and is now trading at $2.16.
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Featured Image: Shutterstock/Kiselev Andrey Valerevich