Key Points
- Small to mid-cap cryptocurrencies, such as Render and Fetch.ai, have seen significant buying activity in 2024.
- Major cryptocurrencies like Bitcoin and Ethereum have been sold off heavily despite their growth.
A recent report has explored the most purchased and most sold digital assets in 2024. The cryptocurrency market has seen an influx of hundreds of billions of dollars this year. The industry’s growth has surpassed 44% YTD, with the potential to exceed the $3 trillion peak achieved in 2021.
Investment Trends in the Crypto Market
The booming crypto market has attracted investors and traders looking for quick profits. While popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) continue to dominate discussions, especially with Wall Street’s involvement, small to mid-market cap assets have also attracted investor capital.
Research involving over 500,000 crypto investors revealed that Render (RNDR), Fetch.ai (FET), Internet Computer (ICP), Injective (INJ), and Hedera (HBAR) are the most purchased cryptocurrencies this year. Render and Fetch.ai have seen increases of 48% and 113% YTD, respectively, likely due to interest in Nvidia and artificial intelligence as investors explore web3 alternatives.
The Most Sold Cryptocurrencies in 2024
On the other hand, large-cap digital assets have experienced significant selling volumes, despite their noticeable growth. Bitcoin, Ethereum, Solana (SOL), Cardano (ADA), and Ripple (XRP) were the most sold cryptocurrencies in 2024.
Researchers noted that this list includes some of the largest cryptocurrencies by market cap. The early 2024 rally in the cryptocurrency market likely prompted many investors to take profits and sell their major holdings. Bitcoin reached a new all-time high in March, and Ethereum has approached previous highs, leading to profit booking by investors.
For Solana (SOL), the SOL ecosystem has become the default platform for memecoin, attracting billions in meme token traders. This could explain most of the SOL selloff.
