More Americans are familiar with Dogecoin (DOGE) than with Ethereum (ETH): study

More Americans are familiar with Dogecoin DOGE than with Ethereum ETH study

According to a new survey conducted by Harris Poll in conjunction with CouponCabin, more Americans have heard of Dogecoin (DOGE) than Ethereum (ETH). Cointelegraph reports this on May 25.

2,063 American respondents over the age of 18 took part in the survey. The survey showed that as many as 89% had heard of cryptocurrency. Most respondents are of course familiar with bitcoin (BTC), namely 71%, but strikingly we do not come across the second largest crypto in second place.

According to the survey, only 21% of the respondents are familiar with Ethereum and no less than 29% are familiar with Dogecoin. Ethereum is by far the largest altcoin on the market, introducing a new generation of blockchains and a range of new functionalities such as smart contracts, decentralized apps (dApps), decentralized finance (DeFi), non-fungible tokens (NFTs) and more.

Dogecoin, on the other hand, was once developed as a joke to make fun of crypto. The project has no purpose, has not been worked on for years and the only reason it surged so fast this year is because billionaire and Tesla CEO Elon Musk regularly tweeted about it.

Yet more Americans are now familiar with this “meme crypto.” Respondents are just as familiar with USD Coin (USDC), Coinbase and Circle’s stablecoin, as Ethereum, at 21%. This is followed by Litecoin (LTC) with 18% and Stellar (XLM) with 10%.

Furthermore, the survey showed that 31% of the respondents believe that crypto is the future of money and 30% call the underlying technology “innovative.” In contrast, 23% of the respondents see crypto as a “get-rich-quick scheme” and 19% still think that crypto is suspicious and criminal.

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