Cryptocurrency enthusiasts in the US and Europe will often have very different tastes. Now and then, some overlap will exist between the two, but there will also be notable exceptions. CoinGecko’s recent top 10 trending coins confirm as much.
Common Grounds For Trending Coins
It is not entirely too surprising to see some overlap for half of the top 10 trending coins in the US and Europe. Several markets performed incredibly well, making them impossible to ignore. For others, there seem to be some “cultural differences,” so to speak. Investors and speculators in different regions will exhibit favoritism toward specific projects and their associated risks.
Both the US and Europe share a common interest in Bitcoin, Ethereum, Cardano, Elrond, Decentr, OptionsRoom, and Dogecoin. No surprises there, as all of these assets performed incredibly well last week. Bitcoin and Ethereum hit new all-time highs, which is somewhat surprising. Dogecoin also noted monster gains and seems unwilling to relinquish them.
Cardano is going through a strong bull trend as well. While it has not hit a new all-time high yet, doing so is not impossible thanks to this momentum. It will primarily depend on what happens to Bitcoin over the coming days, as that asset dictates the pace for alternative markets.
One unusual name of both trending coins lists is Decentr, a project not too many people may be familiar with. Its $26 million market cap may explain why it is so popular on CoinGecko lately. Many traders and speculators look for new markets to enter, preferably ones with significant profit potential. Whether Decentr can deliver that profit remains to be seen.
The same goes for OptionsRoom, a project currently valued at $28 million. iI, too has a low market capitalization, making traders in the US and Europe more willing to take a few risks along the way.
Elrond, the final currency found on both top 10 trending coins lists, has risen by 121.3% in the past week. It noted an intense all-time high of $214.12 yet struggled to keep up this momentum in recent days. Currently trading $52 below that all-time high, the coming days may prove crucial for this project, at least from a theoretical perspective.
Europe Favors XRP, The US Wants Chainlink
Regarding the cultural differences, there are some exciting trends to behold regarding the top ten trending coins.
In the US, traders focus on UTRUST and Bao Finance, two projects one doesn’t see mentioned on social media too often. No one knows why there is a sudden interest in both ventures, albeit there must be some valid reason for it.
Europeans, on the other hand, have high hopes for PAID Network and IOTA. The first project doesn’t ring too many bells either and has a small market capitalization. Once a top 5 project by market cap, IOTA has given up a lot of ground but seems to claw its way back up. The price of MIOTA is still down by 77.8% compared to the all-time high of 2017.
What is even more remarkable is how Europeans still have high for Ripple’s XRP. It is far less popular in the US due to the ongoing investigation and lawsuits. Several exchanges no longer support this asset’s trading, yet Europeans can still access it with ease. For this reason, it is one of the ten trending coins for last week.
In the US, the focus lies on Chainlink, rather than XRP. An interesting decision, albeit one everyone can understand. Chainlink’s technology gains a lot of momentum in the blockchain and DeFi industries, two sectors that keep growing and evolving day by day. Additionally, XRP is – in the eyes of many – a “banker coin”.
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