If You Had $1,000 Right Now, Would You Put It On Ethereum Or Baby Dogecoin?

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 to invest, would you put it on Ethereum ETH/USD or Baby Dogecoin BABYDOGE/USD?

• Ethereum: 70.8%
• Baby Dogecoin: 29.2%

See Also: How To Buy Baby Dogecoin

Ethereum was trading around $2,960 at press time. The 2nd-leading crypto by market capitalization traded as high as the $3,500 level in April and is lower by roughly 1.44% for the month.

Meanwhile, Baby Dogecoin is trading at around $0.000000002475.

Baby Dogecoin is a cryptocurrency on the Binance Smart Chain. The project has gained popularity for its “cuteness” instead of underlying technology… Read More

Why Are Cryptocurrencies Moving?

The broader cryptocurrency market, including Ethereum and Baby Dogecoin, has traded lower on continued weakness following comments from Federal Reserve Chair Jerome Powell suggesting a rate hike of 50 basis points is possible for May. The Fed has indicated it may move quicker on rate hikes to curb inflation.

Fed policy outlook, rising Treasury yields and quarterly earnings reports have dragged markets lower in April. Tuesday’s session saw a 3-year high of 2.940% for the 10-year note.

On an International Monetary Fund panel, Powell said reducing inflation is "absolutely essential" and raising rates by half a percentage point in May is "on the table."

This survey was conducted by Benzinga in April 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.