eToro shared the altcoin projects that increased the number of purchases the most in the third quarter of 2022. Accordingly, Shiba Inu (SHIB), Decentraland (MANA) and these 3 altcoins attracted great attention. The increase in the number of unique wallet addresses holding assets reveals more holdings of tokens. For those who don’t know, the more popular an asset is from investors, the more likely it is to experience a price increase.
eToro: “SHIB and these 4 altcoins in the investors’ basket”
eToro announced that SHIB and MANA witnessed the largest annual increase in the third quarter of 2022. Accordingly, the two altcoins registered an increase of 437% and 269%, respectively, compared to the same period in 2021. Various factors seem to have contributed to the increase in the number of token holders. Decentraland, for example, has seen an increase in adoption due to increased interest in the Metaverse space. The leading meme token SHIB has been attracting investors with gaming news lately.
However, SHIB and MANA aren’t the only altcoin assets to see an increase in owner numbers, according to eToro. Accordingly, Enjin Coin (ENJ), Polygon (MATIC), and Basic Attention Token (BAT) also saw huge increases. According to the report published by eToro, each managed to increase the number of unique owners by 229%, 107% and 107%. All three cryptocurrencies have been praised by analysts recently.
Why are SHIB and MANA purchases increasing?
eToro crypto market analyst Simon Peters shared comments on the rise of MANA. According to him, despite the bear market, Metaverse has become the main theme of the crypto market this year. This has worked for leading Metaverse coin projects like MANA. Then Peters shared his predictions for the popular SHIB. According to him, the increase in investors buying meme tokens is related to new use cases. As Cryptokoin.com reported, Shiba Inu made land sales for the Shiba Metaverse with tokens.
But Metaverse land sales aren’t the only reason for the increase in SHIB adoption. The meme token has launched the game Shiba Eternity, which is available on both the Apple App Store and the Google Play Store. This mobile based NFT game is compatible with Shiboshi NFTs. The game has been eagerly awaited by the Shiba community for a long time and has finally been released. This was an effective reason for the increase in the purchase of the token.
Purchases did not increase in eToro’s top held assets
Metaverse-connected SHIB and MANA on the eToro platform saw huge gains. However, other top cryptocurrencies of the platform did not witness such an increase. Bitcoin (BTC), Cardano (ADA) and Ethereum (ETH) did not change significantly in the third quarter of 2022 compared to the previous year.
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