An analysis by the Shrimpy Portfolio Management application showed that Bitcoin is the most popular cryptocurrency for investors. The conclusion was not drawn on the basis of the market cap, but on the dominance of a cryptocurrency in the portfolio and their popularity.
Dominance indicates the average weight of a cryptocurrency in portfolios, ignoring their values. Therefore, a $ 100 million portfolio with 25% BTC and a $ 10 billion portfolio with 75% Bitcoin will generate the same 50%.
Popularity measured what percentage of the wallets analyzed had cryptocurrencies, ignoring the proportions. So, if each of the 10 portfolios analyzed, they own 5% ETH, then ETH has a popularity of 100%.
Shrimpy Portfolio Management has concluded that Bitcoin is the most popular cryptocurrency and appears in 72.4% of its portfolios. Ether is also owned by more than half (54.5%) of investors.
Other popular cryptocurrencies were Binance Coin (40.1%), XRP (38.7%), Litecoin (37.7%), Stellar (32%), EOS (27%), Cardano (26.3%), Bitcoin Cash (24.5%) and Monero (21.4%).
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Dominant Bitcoin in portfolios
In terms of dominance, the top position is again occupied by Bitcoin with 26% of the sampled portfolios. However, Ether has an average weight of 7.4%, far more than you would expect from its market cap.
Other cryptocurrencies with significant dominant figures are Tether (4%), XRP (3.9%), Binance Coin (3.6%). Litecoin (3%), Cardano (2.2%), Stellar (1.8%) and EOS (1.6%).
Therefore, even though Bitcoin SV ranks number 6 in the market cap, it was neither popular nor dominant in the portfolios used as a sample for this analysis.
Binance Coin has significant performances both in popularity and dominance in relation to market cap. Bitcoin Cash, however, has much lower performance in both areas.
Tether has a relatively high dominance, but it is not particularly popular, which suggests that Tether’s portfolios hold much of it.
Shrimpy Portfolio Management also recently published a report trying to find out the actual number of transactions processed daily by exchanges.
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