TradingView, a cloud-based social platform for traders and an independent charting an analysis tool, has revealed bitcoin and Tesla are the most popular assets on its platform.
According to an announcement the firm published, the flagship cryptocurrency and the electric car maker are currently the top two most viewed assets in America, with the company’s data showing Tesla (NASDAQ: TSLA) stock was the most viewed in 31 states.
Bitcoin, however, was not far behind. The cryptocurrency’s price has risen over 60% year-to-date. In the last 30 days alone the price of bitcoin went up nearly 30%, as after entering five-figure territory in late July BTC’s price moved up to test the $12,000 mark. At press time, it’s close to $11,900.
The cryptocurrency’s rise drew in both retail and institutional investors, to the point the network briefly became clogged, with transaction fees going up as users competed to get their transactions confirmed on the next block.
Tesla, on the other hand, saw the price of its stock move from little over $400 at the beginning of the year to $1,650 at press time, thanks to a positive future outlook on the electric vehicle industry, and the firm posting its first annual profit ever.
TradingView’s announcement reads:
What was particularly interesting was the largest publicly traded company, Apple , failed to reach the topmost viewed stock in any one state. Apple is nearing a $2 trillion market cap, it’s up 53% year-to-date, and traders and investors still aren’t paying that much attention. For now, the data clearly shows that Tesla and Bitcoin are the two assets everyone is looking at most often.
The firm’s data further showed that the South East of the United States leaned more towards the forex markets, while California, Washington, and Oregon lean toward bitcoin. The firm noted the “west coast loves crypto the most.”
Bitcoin’s rise this year was partly fuelled by its use as a hedge against inflation, with some investors claiming the cryptocurrency is “gold 2.0.” As CryptoGlobe reported, the Nasdaq-listed billion-dollar firm MicroStrategy recently bought 21,454 BTC for $250 million in a bet on BTC, calling it a “dependable store of value.”
It’s worth noting TradingView is popular in the cryptocurrency space, with most cryptoasset trading platforms integrating it on their platforms.
Featured image via Unsplash.