If You Had $1,000 Right Now, Would You Put It On Cardano Or Dogecoin? 6 In 10 Say…

Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

This week, we posed the following question to over 1,000 Benzinga visitors on cryptocurrency investing: If you had $1,000 right now, would you put it on Cardano ADA/USD or Dogecoin DOGE/USD:

• Cardano: 38.7%

• Dogecoin: 61.3%

Cardano is trading higher by 2.21% at $0.47 Thursday. Cardano is lower by 8.50% over the past month amid a broader cryptocurrency market pullback.

Dogecoin is meanwhile lower by 0.74% at $0.062 at the time of publication and is trading lower by roughly 27.96% over the past month.

A flashback from the 2021 crypto trading frenzy – Elon Musk caused a stir in the markets last year when he tweeted that Tesla Inc TSLA won’t begin accepting Bitcoin BTC/USD until it increases its use of renewable energy. 

For the uninitiated, Cardano is a proof-of-stake blockchain in contrast to Bitcoin and Ethereum ETH/USD, which both use a proof-of-work protocol. Proof-of-stake protocols are more environmentally friendly since they use significantly less energy than proof-of-work chains… Read More

This survey was conducted by Benzinga in June 2022 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.