18% of the US population, representing 27 million Americans, own cryptocurrency. An ING study shows the number of people who have heard about cryptocurrencies increased from 57% in 2018 to 70% in 2021. This means that the popularity of crypto among US citizens is surging. Understanding the popularity of virtual currencies helps you know where investors are putting their money. Popular cryptos are more likely to experience sustainable long-term growth. But the popularity and ownership vary across various digital tokens. This article looks at the ten most popular cryptocurrencies in the USA. Let's explore top cryptocurrencies, starting with the most popular.

1. Bitcoin

You guessed it right. Bitcoin is one of the most popular cryptocurrencies in the United States. Statista data shows that 77% of crypto investors in the United States own Bitcoin, significantly increasing from 67% in early 2021. Newsweek reports that 22% of adult Americans (roughly 46 million people) own some bitcoin. According to Finance Buzz, the pioneer virtual currency is the most popular crypto in Hawaii. 

A 2021 Gallup poll shows that 6% of American investors own bitcoin, increasing 2% in 2018. The skepticism in Bitcoin investment has also reduced. Investors between 18-40 with no interest in Bitcoin investment have reduced from 56% to 38%.

The massive popularity stems from the adoption by big Funds and fintech companies. Institutions with the highest Bitcoin ownership include Grayscale Bitcoin trust, Block.One, Microstrategy and Tesla. Their holdings range between $1 billion and $25 billion. Individual investors have also invested heavily in Bitcoin. Mathew Roszak owns over $1 billion, while Cameron and Tyler Winklevoss twins have earned their billionaire status from investing in Bitcoin. Currently trading at $39184, it has a market cap of $742 billion, making it the biggest cryptocurrency, which is predicted by many crypto sites to hit a new ATH in 2022.

2. Ethereum 

Ethereum is the largest altcoin with a market capitalization of $327 billion.  It has the second-highest ownership in the United States. Statista data shows that 44% of investors own Ethereum. A Finance Buzz report shows that Ethereum is the most popular crypto in California.

Ethereum was created by Vitalik Buterin and Gavin Wood in 2014, five years after Bitcoin. Unlike Bitcoin, Ethereum has several use cases which make it appealing to investors. Some of the utilities boosting its popularity are smart contracts and Decentralized apps. 204 Defi projects are on the Ethereum blockchain. 

3. Dogecoin

Billy Markus and Jackson Palmer founded Ethereum in 2013. 40 % of crypto investors hold dogecoin, according to Statista, quite a significant growth from 28.6% in 2021. Here is an interesting thing. Finance Buzz survey shows that Dogecoin is the most popular cryptocurrency in most states. It tops in popularity across 20 states, including Washington,  Texas,  Georgia, and Alabama.

Doge is also the most googled cryptocurrency, according to google trends data. It is more searched on google than Bitcoin and Ethereum combined. It also has more holders than bitcoin and Ethereum in the United States. MiQ shows that dogecoin had a +1781% increase in interest across the United States.

Its massive popularity stems from cult-like following and endorsement by celebrities like Mark Cuban and Elon Musk.  Elon Musk supports the meme coin through a series of tweets. Dogecoin is the 11th biggest crypto with a market capitalization of $18.53  billion, trading at $0.1396 a coin. Other popular meme coins in the States include Shiba Inu, Dogelon Mars, Shiba’s wife and Baby Doge.

4. Stellar 

According to Statista Data, Stellar ranks fifth in the list of crypto with the highest ownership. 17% of US crypto investors hold stellar tokens.  In addition, it is the most popular cryptocurrency in Rhode Island. 

The cryptocurrency was founded in 2014 by Jed McCaleb. One of its distinctive features is a federated byzantine agreement algorithm for transaction validation rather than the conventional mining networks. Currently trading at $0.196, XLM coins have a market capitalization of $4.19 billion.

5. Litecoin

Litecoin was the second cryptocurrency to be created after Bitcoin.  It supports sending borderless and low-cost payments anytime, anywhere.  In essence, it was designed as a faster version of bitcoin. Litecoin is four times faster. While it creates new blocks after 2.5 minutes, Bitcoin takes 10 minutes. Additionally, it has a maximum supply of 84 million coins, a quadruple of Bitcoin's maximum supply. 

15% of US crypto investors own Litecoin, according to Statista. Its interest has increased about 433% across the United States since 2020. Data from finance buzz shows that Litecoin is the most popular cryptocurrency in South Dakota and Illinois. Litecoin is currently trading at $112.71 and has a market capitalization of $7.85 billion.

6. Bitcoin Cash

Like Litecoin, Bitcoin cash was designed to address Bitcoin limitations such as scalability and utility. The crypto coin is transactional. It enables peer-to-peer digital payments, pretty much like an electronic cash payment system. Like the original Bitcoin, the maximum supply is 21 million.  Bitcoin cash is currently trading at $305 and has a market capitalization of $5.8 billion. Statista reports that 12% of the United States' crypto investors own Bitcoin Cash.

7. Cardano

While Ethereum brought a new era of cryptocurrencies with top-notch use cases, Cardano took the utilities to a whole new level. First, it is highly scalable, supporting 250 transactions per second. The proof of stake model enables low transaction fees. Besides receiving Cardano on the cryptocurrency wallet, the blockchain network supports smart contracts and decentralized finance. Users can, therefore, transact without going through intermediaries such as banks and other financial institutions. All projects undergo extensive experimentation and extensive research. Currently, 11% of crypto investors hold Cardano virtual coins. In fact, it is the most popular cryptocurrency in Alaska.

8. Tether

Tether is a stablecoin backed by fiat money.  One tether (USDT) is equal to one dollar. It was invented in 2014 and has grown to be the biggest stablecoin. Tether allows decentralized exchanges, financial services, payment processors, and wallets to use tokens backed by fiat currency. According to Statista, Tether is among the most popular cryptocurrencies. Its holder makes up 8% of the US crypto investors. 

The stablecoin is the most popular cryptocurrency in Maryland, Oklahoma, and Virginia. In addition, it is the third-largest cryptocurrency and the biggest stable coin with a market cap of $79 billion.

9. Solana

Solana started in 2018 in San Francisco and is regarded as one of the Ethereum killers. It supports more than 3000 decentralized apps. The Solana ecosystem boasts low transaction, high speed, and low gas fees. In 2021, it grew 12000% to become the eighth biggest cryptocurrency with a market capitalization of $28.60 billion. About 7% of cryptocurrency investors hold Solana cryptocurrency.

10. Polygon

Founded in 2017, Polygon tokens’ use cases are staking, fees and governance. SOL holders amount to 7% of US crypto holders. What's more, it is the most popular digital token in Wisconsin. A MATIC coin is currently trading at $1.54.  The network has a market capitalization of $11.57 billion.  The Ethereum layer 2 solution provides a platform for creating Decentralized apps with enhanced speed, scalability, and security.

Other notable mentions include;

• Shiba Inu
• Binance coin
• Ripple 
• Polkadot 
• XRP 
• Chainlink

Conclusion

The cryptocurrency market has grown significantly. The 2021 boom pushed the prices to new highs, massive attention leading to mainstream adoptions. Initially, many people only knew about Bitcoin. However, other virtual tokens are becoming well known beyond the crypto circles. The more popular the crypto is, the more it's likely to be adopted. Some of the most popular cryptos in the US are discussed in the list above. Start getting acquainted with these digital tokens today.