Ripple’s XRP followed by Cardano’s ADA, remains the most popular cryptocurrency in the United Kingdom.
UK Investor Loves XRP
According to eToro trading platform, a social trading platform, XRP is the most widely preferred token among UK’s retail traders. Data showed, in Q3 this year, retail traders choose XRP to Brough in more than any other cryptocurrency.
While XRP’s quarter-on-quarter holdings in the country increased only by 4%, the coin saw an overwhelming growth Year-on-year. As, since the dawn of 2021 the XRP grew by 105%. The growth is somewhat reflection of XRPs year-on-year price action and its strife with USA’s securities watchdog SEC.
At the start of the year XRP traded around $0.20 price level but thanks to growth the token has gone through, it is currently trading at $1.09.
Simon Peters, crypto market analyst at eToro noted that XRP has a strong community of supporters who firmly believe in token’s long term potential. He explained that while Bitcoin merely grew 2% during the quarter, it did see a huge growth of 325%, year-on-year. He asserted the pattern explicates how these digital assets “captured retail investors’ imaginations over the past 12 months and showed how they’re a vital component of many portfolios.”
Peters asserted that XRP is also similar as the token grew only by 4% during the quarter but a significant number of eToro’s investors are still holding it. While some of them brought the token way back in 2017, others got it in their portfolios most recently, analyst added.
Further, according to eToro, smart contracts platform Cardano’s ADA remains the second most popular cryptocurrency during Q3. Currently the world’s 4th largest digital coin by market cap, ADA grew 11% from July to Sep. Whereas the coin has gone through a 1,230% of growth, year-on-year.