Is Bitcoin no longer the "darling"? ADA and DOGE are the most popular cryptocurrencies among eToro users in the United States

According to Cointelegraph, American users of the eToro trading platform are increasingly interested in trading altcoins, with assets such as ADA and DOGE becoming more popular than Bitcoin.

Cardano (ADA) is the most popular cryptocurrency held by eToro’s US users, up from third place in the second quarter of 2020. DOGE ranks second in popularity, followed by Tron, ETH, and BTC.

Other cryptocurrencies popular with U.S. investors include Stellar (XLM), IOTA (MIOTA), and Ethereum Classic (ETC).

Despite one of the biggest market corrections ever, cryptocurrencies remain popular with retail investors, who are confident in the potential of this new asset class, according to research provided by eToro.

Cardano’s high ranking is not surprising given the large community that founder Charles Hoskinson has fostered over the years. Cardano is a cryptocurrency network and open-source project that aims to run a public blockchain platform for smart contracts. ADA is the token of the Cardano project.

An investor sentiment survey report previously released by crypto trading broker Voyager Digital showed that American retail investors are more optimistic about Cardano (ADA) than Bitcoin.

Meanwhile, DOGE has suddenly become mainstream this year. During the rally, DOGE even surpassed Bitcoin in the number of tweets, which is a good proxy for retail investor interest.

Cryptocurrencies in general remain in a solid intermediate downtrend with very few exceptions. As Bitcoin continues to trade in a narrow range and is unable to break through key resistance levels, the short-term outlook remains tilted to the downside. Despite this, users continue to flock to platforms such as eToro, which saw a 214% increase in new registrations earlier this year.