Over the past two months, the cryptocurrency market has grown by 60%, reaching a capitalization of $2 trillion. Traders among coinslooking for those that rise faster than the market.So, over the past 30 days, Cardano has grown by 140%, and Terra - by 270%. But in the near future, the highest return can be shown by Dogecoin, in which new market participants are showing interest.
Image Source: Cryptocurrency ExchangeStormGain
Philip Gradwell of Chainalysis notes record interest in Dogecoin since the end of 2017 and an increase in the proportion of young investors holding the coin for less than half a year, from 9% last year to the current 25%.
SourceImages: twitter.com/philip_gradwell
This group of traders is a growth driverfor a financial instrument, its increase indicates the interest in Dogecoin from the general public. This is also confirmed by the report of the popular platform Robinhood: the last quarter was the first in the history of the site, when the majority of new customers preferred cryptocurrency over stocks. At the same time, among cryptocurrencies, 62% of the trading volume fell on Dogecoin. The bet on cryptocurrencies turned out to be a winning one for Robinhood: revenues from the direction for the year grew from $ 5 million to $ 233 million, eclipsing other financial instruments.
The return of traders to Dogecoin trading is also noted by Coinbase, where the daily turnover reached $ 200 million last week. At the same time, the number of daily active users in the network reached 32 thousand.
Interest in Dogecoin is not only speculative -many prefer it to other cryptocurrencies when making payments. Billionaire and Dallas Mavericks basketball team owner Mark Cuban notes that 95% of sports merchandise sales come from Dogecoin, despite the wide variety of crypto tools.
Image Source:twitter.com /mcuban
Everything suggests that interest in Dogecoinreturns, despite Elon Musk's respite. Over the past 30 days, the coin has grown slightly better than the market - by 67%, which is very modest given the potential and the activity that is registered on the network.
Analytical group StormGain
