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Ripple’s XRP is the most traded cryptocurrency on eToro

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On Tuesday, February 26, social trading and multi asset brokerage firm, eToro, shared data showing that Ripple’s XRP token is the most traded cryptocurrency asset on its platform.

According to the eToro insights, in January 2019, Ripple’s XRP cryptocurrency token accounted for 29,991 unique open trades, leaving behind Ethereum and Bitcoin with 26,773 and 25,148 unique open trades respectively. Overall, in January of 2019, only four assets were more popular than XRP token: Oil with 35,503, Gold with 32,484, Apple with 31,767 and NSDQ100 with 31,683 unique open trades.

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Despite the growing popularity of cryptocurrencies, trading platform eToro revealed that only 11.83% of UK-based investors were trading cryptocurrencies in January of 2019. Unsurprisingly, the most popular asset among UK traders remains stocks – 56.03% and currencies – 14.69%

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A similar pattern could be seen in Germany’s markets. According to eToro, only 11.20% of Germany-based investors engaged in cryptocurrency trades, while majority traders chose stocks – 56.78% and currencies 14.77%

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“While there was no clear trend in the crypto market over the past 24 hours, some cryptos were seen higher, including XRP. The crypto, currently ranked 3rd overall by market cap, led the top 10 by registering gains of around 5% (at the time of writing). Despite these recent gains, XRP has not yet erased the losses suffered over the weekend, as it is still down by more than 3% for the week,” said eToro in its recent post.

As reported earlier today, Ripple is currently riding high on a tidal wave of positive news. XRP lisiting on Coinbase and the upcoming RLX indices on NASDAQ are the two major factors pushing XRP prices up.

About Mantas Malukas

Mantas is the founder of Dapp Life, crypto investor and an online entrepreneur who has professionally immersed in digital publishing and development for over a decade.

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