Key message: Cardano (ADA) became the most held cryptocurrency in the second quarter of 2021 on social trading platform eToro. The platform announced the news this week.
Cardano and hardfork Alonzo
Earlier this year, Bitcoin led the bull run, and it was probably everywhere. The eToro platform saw a 42% increase in demand. Cardano is the fifth largest cryptocurrency by market capitalization. Its hard fork Alonzo is currently in the testing phase, for which clearer plans have already been provided. If testing is successful, it will enable smart contracts to be written and deployed on the Cardano blockchain for the first time. It will therefore be a very significant upgrade. ADA’s price has climbed 15% in the last quarter, indicating optimistic investor sentiment and confidence.
However, ADA is not the only one enjoying increased popularity among retail investors. Coming in third place to eToro is Ethereum, which is becoming more popular mainly due to the long-awaited London Hardfork. Thus, eToro’s findings suggest that retail investors are more likely to consider altcoins, and BTC’s popularity is falling slightly.