The cryptocurrency market is filled with doubt. Much doubt comes from unknowns. Unknowns regarding the legitimacy of specific assets, the adoption, the community support and more.

This article is intended to highlight the assets that are actually being held by crypto investors. This is not based on speculation, but actual data collected from tens of thousands of cryptocurrency investors.

Shrimpy executes up to 150,000+ trades every day for cryptocurrency investors. Each investor connects to exchanges that we use to complete orders. This has helped us create a snapshot of what assets are the most held by investors.

Definitions

Before digging into the data, there are two terms we need to define. These terms are “dominance” and “popularity”. In this context, we are using these terms for specific metrics.

Dominance - The dominance is calculated as the average percent allocation that is held by a specific asset across all user portfolios.

Essentially, this value is calculated by summing the percent allocation of each asset across every portfolio and then divided by the number of portfolios.

Example: If we have 10 different portfolios, each portfolio will hold a variable percent of each asset. Anywhere from 0% to 100% of a single asset.

Imagine each portfolio that holds BTC. The percent of BTC in each portfolio could be: 15%, 35%, 53%, 75%, 2%, 0%, 99%, 71%, 33%, and 100%.

The dominance is therefore: (15% + 35% + 53% + 75% + 2% + 0% + 99% + 71% + 33% + 100%) / 10 = 48.3%

Popularity - Popularity is the percentage of people that hold any percent greater than zero of the asset in their portfolio. Whether the person holds 1% or 99% it does not matter.

This value is calculated by summing the number of portfolios that hold ANY amount of an asset and then dividing by the total number of portfolios.

Example: If we have 10 different portfolios, each portfolio will hold a variable percent of each asset. Anywhere from 0% to 100% of a single asset.

Imagine each portfolio that holds BTC. The percent of BTC in each portfolio could be: 1%, 45%, 0%, 100%, 7%, 0%, 91%, 71%, 33%, and 37%.

The popularity is therefore: 8 / 10 = 80% (Notice the 2 portfolios with 0% BTC that are bolded)

Market Cap

One common way that cryptocurrency users have been determining the prevalence of an asset is through the market cap.

The market cap is determined by multiplying the number of tokens in circulation by the current price.