There is a boom for tokens linked to the metaverse also on eToro, a well-known secure trading platform that alongside classic investment instruments also includes an important selection of crypto assets.
The group has in fact released some interesting data concerning both the newly introduced crypto tokens on its price lists, and instead the trend of its customers’ investments, with some insight that allows us to understand in an important way how the market of crypto is moving. crypto and where retailers’ money is ending.
That these were two sectors that are also tempting to retail investors should not be a mystery to anyone by now. Let’s talk about metaverse and the main tokens that go around it, such as The Sandbox $ SAND and Decentraland $ MANA.
Tokens that have experienced a terrific 2021 and that are now perhaps not performing at the top. However, investors who have accessed them through eToro continue to include them within their portfolios. According to the data that were released by the broker itself, we have in fact, for the first three months of 2022, an increase in open positions on $ SAND by 208%, an important sum also taking into account the fact that we are not in a period of great inspiration for markets.
The gaming sector is also very good. Also according to the data that the broker has released, there would have been an increase in open positions on Axie Infinity of about 43%. And to put this data into perspective, the increase in open positions on Bitcoin and Ethereum is reported, which together with Cardano totals “only” 14%.
Retail on the hunt for new bargains: how the crypto market is changing in 2022
The great classics of the crypto market, that is cryptocurrencies that already have a large market capitalization, no longer appeal to retail speculators, that is, small investors who do proactive trading. A situation that we had already realized following what our readers tell us and that could exacerbate in the coming months.
With a caveat, however: 14% more positions on Bitcoin are worth much more in nominal terms than a doubling of positions on protocols that are still emerging, at least for emerging investors. And this therefore should not be interpreted as a sort of abandonment by small investors towards $ BTC and $ ETH. It is only a matter of the now well-known desire to diversify in search of riskier but at the same time potentially more profitable investments.
eToro, which has been the protagonist of a strong expansion of its crypto list, seems to want to indulge the market’s thirst for new crypto assets. And the data we saw today prove him right.