Coinbase has just launched a new set of trading signals, including insight on which coins are the most popular and which digital assets are being held the longest by investors.
The analyst and economist Alex Kruger has compiled a list of data that is revealing that the biggest crypto assets by market cap are not necessarily the most popular coins on the platform, how people would have expected.
The Daily Hodl reported that Bitcoin is the most popular crypto, followed by Ethereum.
Next comes Litecoin, followed by Bitcoin Cash, XRP, Stellar and 0x.
Longest Held Cryptos – Median Number of Days Held
And regarding the coins that traders are holding onto the longest, Bitcoin is not the first on the list as probably expected. BTC is actually number five on the list.
Here’s the list of the digital assets as reported by the online publication the Daily Hodl:
- Litecoin (LTC) – 119 days
- 0x – 108 days
- Ethereum – 101 days
- Ethereum Classic – 99 days
- Bitcoin – 85 days
Popularity = Most Commonly Held
Days = Median Holding Time
The latter needs adjusting by the fact that Coinbase listed most coins less than a year ago, and at different dates. Here's a rough (imperfect) adjusted estimate: pic.twitter.com/I0bHFWVWX6
— Alex Krüger (@krugermacro) July 19, 2019
Kruger said that “The holding period of stable coins is much lower, likely because stable coins in a fiat exchange are mostly bought for arbitrage, for transferring funds to other exchanges, or for using for DeFi. Why hold stable coins in Coinbase when one can hold fiat, which is FDIC insured.”
Coinbase is backing a new public blockchain
Not too long ago, Coinbase was in the news again in relation to a new public blockchain in the crypto space that managed to raise more than $12 million in a funding.
The Daily Hodl reports that this funding round has been led by the crypto hedge fund Metastable Capital with a few backers, including Coinbase Ventures, Pantera and Ripple’s Xpring.
This new platform is called Near, and it’s gearing for developers to build their decentralized apps in “direct competition with industry leaders Ethereum, EOS, and Tron.”