Bitcoin (BTC) and top altcoins most loved by American investors

According to a report by Secutity.org, Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Cardano (ADA) were ranked as part of the most popular digital assets amongst crypto enthusiasts in the United States. The expanded list has Shiba Inu (SHIB), Ripple (XRP), Solana (SOL), and Tether (USDT).

Bitcoin (BTC) Remains Most Loved Asset

This sentiment was the result of Security.org’s fourth annual cryptocurrency study. The insights were gathered from a survey of over 1,500 Americans. It also gauges consumer sentiment and key factors in cryptocurrency adoption, similar to the work consistently done by the firm since 2021 till date. The data shows that Bitcoin (BTC) is still the most popular cryptocurrency among investors.

About 76% of respondents claimed that they currently hold Bitcoin in their financial portfolio. This suggests that three in four crypto investors have Bitcoin. Next is the second largest cryptocurrency by market capitalization Ethereum. The token has a 54% level of adoption amongst the surveyed crypto investors. Unfortunately, this is a fall from its levels from 2023 and a much bigger plunge from 2022.

The number of crypto enthusiasts who confirmed that they have Ethereum in 2022 was about 65%. Noteworthy, at the time Bitcoin was at 77%. The adoption rate of ETH in 2022 was largely tied to the widespread interest in The Merge, the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus algorithm. Many investors saw it as a good time to invest in ETH. 

In 2023, the percentage of owners holding Ethereum fell to 58% before reaching 54% this year. This coin has been in very close competition with other top smart contracts like SOL and BNB which ended up jeopardizing its ownership rate in the long run.

Core Drivers of Bitcoin, Ethereum Ownership Rates

Meanwhile, the general growth in the ownership of BTC, ETH, DOGE and ADA is largely tied to certain events that are happening in the crypto sector. There is a current buzz about a potential spot Bitcoin (BTC) ETF approval from the United States SEC and the anticipation is driving the adoption rate of the underlying cryptocurrency Bitcoin. 

For Ethereum, customers are expecting another upgrade that will improve on the speed while lowering fees. There is also an expectation of a spot Ethereum ETF launch from leading asset management firm BlackRock. DOGE is basically leveraging the 256-bit encryption technique that secures it and Elon Musk affiliations to drive attraction. 

Being a close rival of Ethereum is contributing to ADA’s ownership rate.