(City.A.M) Volume of holdings of Cardano by eToro clients grew by 51% in the second quarter, helping the cryptocurrency to surpass Bitcoin as the most held digital token.
Bitcoin’s holdings saw a 42% jump in the second quarter amid a crypto boom at the start of the year.
eToro crypto market analyst Simon Peters says the use and growth case potential for Cardano’s native ADA were a point of attraction to investors.
ADA price increased by 15% over the previous quarter, portraying investors’ confidence on its ability to challenge Ethereum.
In the second quarter of 2021, Cardano gave a clear roadmap for its forthcoming Alonzo hardfork, which is still in the testing stage.
Cardano’s upgrade is expected to allow manufacturers to create projects on the network, positioning the digital token as Ethereum’s real competitor.
The recent surge in Cardano underlines increasing investor demand for lower-priced coins.
ADAUSD is down -4.04%, BTCUSD is down -6.23%
