CoinTracker Token Popularity Analysis

We analyzed the 100 most popular coins tracked on CoinTracker (defined as the number of unique users holding the coin), and indexed them against Bitcoin’s popularity from 1-100.

Sam Stone
Sam Stone

June 19, 2019  ·  3 min read

CoinTracker Token Popularity Analysis

Inspired by Robinhood, we decided to take a look at the relative popularity of different cryptocurrencies on CoinTracker, compared with their market cap.

On Robinhood, TSLA stock has nearly doubled in popularity among Robinhood users, even as the stock price has been cut in half.

We analyzed the 100 most popular coins tracked on CoinTracker (defined as the number of unique users holding the coin), and indexed them against Bitcoin’s popularity from 1-100. You can review the full list here.

Here are the top 25 most popular cryptocurrencies tracked on CoinTracker, and their market capitalization as of the week of June 12th:

CoinTracker Token Popularity Index & Market Cap


  • Bitcoin and Ethereum are by far the most popular & neck-and-neck in terms of unique CoinTracker holders.

Several coins are much more popular among CoinTracker users than their market cap might suggest:

  • ZRX, BAT, and USDC are likely beneficiaries from their listing on Coinbase. Each rank in the top 10 in popularity, despite being ranked 45th, 27th, and 31st in market cap.
  • Similarly, GAS may benefit from its Binance airdrop. It ranks similar to XMR, OMG, and even BSV in popularity despite a very small $32M market cap.
  • Other coins especially popular relative to their smaller market cap: REP and XVG.

On the flip side, there are several coins with a far higher market cap than their popularity would suggest, including: XRP, EOS, BNB, and BSV.

  • While EOS has similar popularity on CoinTracker to ADA and TRX, it commands 3x the market cap — and almost 30x the market cap of the more popular REP and ZRX tokens.
  • Similarly, XRP is the 3rd highest rank token by market cap, but has a similar number of CoinTracker users following it as ZRX, ZEC, and BAT, coins with 1/30th to 1/40th the market cap.

This dynamic could be caused by any number of different factors:

  • These coins may not be as popular with CoinTracker users, but may have found traction in other parts of the cryptocurrency ecosystem.
  • These coins could be drawing a higher typical investment per user — perhaps due to deeper conviction from their user base, more popularity among whales/high net worth users, or from interest among funds and institutional investors.
  • Alternately, this could be due to the lower availability of supply of these tokens, relative to the off-market holdings held by their creators/foundations. With a smaller float and more centralized control, tokens held by fewer users can command a higher market cap.

In conclusion, we have found there is considerable variability between a coin’s market capitalization and its apparent popularity on our platform among real investors.

While analysis of the popularity of cryptocurrencies among CoinTracker users is only one data point, similar to the findings from the recent Bitwise report which found that over 95% of cryptocurrency exchange data may be fraudulent, it suggests there is much to be learned from investigating data gauging authentic cryptocurrency interest.

CoinTracker helps you calculate your crypto taxes by seamlessly connecting to your exchanges and wallets. Questions or comments? Reach out to us @CoinTracker.

Disclaimer: this post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.