According to Cointelegraph, US users of the eToro trading platform increasingly prefer to trade altcoins, and assets such as ADA and DOGE have become more popular than Bitcoin.
Among them, Cardano (ADA) is the most popular cryptocurrency held by eToro US users, ranking higher than the third place in the second quarter of 2020. DOGE ranks second in popularity, followed by Tron, ETH and BTC.
Other cryptocurrencies popular with US investors include Stellar (XLM), IOTA (MIOTA) and Ethereum Classic (ETC).
Despite one of the biggest market adjustments in history, cryptocurrencies are still favored by retail investors. Research provided by eToro shows that retail investors are confident in the development potential of this new asset class.
Given the huge community that founder Charles Hoskinson has cultivated over the years, Cardano’s high ranking is not surprising. Cardano is a cryptocurrency network and open source project that aims to run a public blockchain platform for smart contracts. ADA is the token of the Cardano project.
The investor sentiment survey report previously released by crypto trading broker Voyager Digital shows that compared with Bitcoin, US retail investors are more optimistic about Cardano (ADA).
At the same time, DOGE suddenly became mainstream this year. During the rally, DOGE even surpassed Bitcoin in the number of tweets, which well represented the interest of retail investors.
With very few exceptions, cryptocurrencies as a whole are still in a solid intermediate downward trend. As Bitcoin continues to trade within a narrow range and cannot break through key resistance levels, the short-term outlook is still inclined to the downside. Despite this, users of platforms such as eToro continue to flood in, and the number of new registrations increased by 214% earlier this year.
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