Digital asset manager Grayscale conducted a large-scale survey to find out what the most popular cryptocurrencies are in the United States. The accompanying study also shows that the industry is changing.
"Investors are eager to buy
The crypto industry is growing at an incredible pace: New crypto currencies are constantly appearing, and the narratives and trends change regularly. Bitcoin, DeFi, NFTs or Metaverse - it goes case by case. A new study by digital asset manager Grayscale shows how much the industry has changed.
Accordingly, investors are now accepting Bitcoin and are less worried than in previous years - for example about risks such as cyber attacks, volatility and regulation. The fact that more and more small investors are flocking to the markets can be seen, for example, in the fact that more than half (59%) of US Bitcoin investors now want to buy cryptocurrencies via a trading app such as eToro or Coinbase. In 2020, more than two thirds (77%) of all investors stated that they would rather use a Bitcoin exchange for this.
That means: The demand for Bitcoin is literally exploding, comments Grayscale. More than half of all Bitcoin investors only started investing in the last 12 months.
And even if areas such as decentralized finance (DeFi) and NFT (non-fungible token) sales are picking up, Bitcoin would still account for 46% of the total crypto market capitalization. As a result, BTC remains the most popular cryptocurrency in the US - by far.
Bitcoin investors, however, are not limited to the number 1 cryptocurrency. Rather, they are also interested in other cryptocurrencies.
The 4 most popular cryptocurrencies in America:
Surprisingly, Meme-Coin Dogecoin (DOGE) is right at the top of the popularity list. Grayscale comments:
“Investing in cryptocurrencies is not a zero-sum game. Most investors who own Bitcoin (87%) also have exposure to one or more altcoins. The most popular altcoins include Ethereum, the preferred platform for DeFi and NFT projects, and Dogecoin. "
In fact, Meme Coin King Dogecoin lands in second place behind Bitcoin. Almost two thirds (74%) of all investors have already heard of Dogecoin, writes Grayscale.
The cryptocurrency, which was once conceived as a joke, is even better known than Ethereum, the leading smart contract platform. This only comes to a level of awareness of 56%.
In short: no altcoin is better known in the USA than Dogecoin. However, Ethereum is more successful: Here 46% of all respondents stated that they have already invested. Dogecoin is slightly below that at 44%.
Other popular cryptocurrencies in the US are Litecoin (LTC) and Cardano (ADA). These can be found in the portfolios of 26% and 15% of all respondents.
you can find the full Bitcoin investor study by Grayscale.
