Study Finds Most Popular Cryptocurrencies With Russian Social Media Users

In a 12 months with rising crypto prices, online chatter dedicated to cryptocurrencies has elevated considerably. Research carried out on Russian social media has recognized probably the most talked about cash and it’s not simply bitcoin on folks’s minds.

Experts List Most Mentioned Cryptos on Russian Social Media

Brand Analytics, an organization specializing in media monitoring within the CIS space, has just lately printed a report rating the preferred cryptocurrencies, in accordance with the frequency of their look in Russian-language conversations on social media. To assess curiosity in crypto matters, its specialists have analyzed over 2.4 billion public messages with greater than 46.7 billion phrases, printed in October 2021.

Study Finds Most Popular Cryptocurrencies With Russian Social Media Users

Using clustering expertise, the researchers found over 600 variants of names, together with synonyms, referring to cryptocurrencies, talked about by Russian-speaking customers of their posts final month. For instance, along with the usual “биткоин,” the Cyrillic spelling of bitcoin, the statistics embody phrases reminiscent of “биток,” “биткоиня” in addition to the Latin “bitcoin,” “BTC,” and others.

Bitcoin (BTC), the world’s main crypto by market cap, tops Brand Analytics’ checklist of the ten hottest digital cash on Russian-language social media with 4,415,200 mentions. The stablecoin tether (USDT) is second with 855,800, litecoin (LTC) locations third with 424,300, and ethereum (ETH) is fourth with 417,900 mentions.

XRP is subsequent with 217,400 mentions, adopted carefully by DOGE with 216,300. Solana (SOL) is available in seventh place with 196,900, Monero (XMR) is eighth with 177,900 mentions, adopted by Bowscoin (BSC) with 158,400. With 122,000, travala (AVA) completes the checklist of the main 10 cryptocurrencies by mentions on Russian social media.

The authors of the study be aware that this 12 months has seen a rally for bitcoin (BTC), with the value per coin reaching all-time highs greater than as soon as. The data embody BTC hitting virtually $67,000 in October and nearing the $69,000 mark in early November.

Study Finds Most Popular Cryptocurrencies With Russian Social Media Users

According to the analysts, curiosity in crypto matters amongst Russians is but to peak. “There are 1000’s of various cryptocurrencies on the earth, whereas solely 600 of them are talked about within the Russian-speaking house,” they comment, declaring that Russia has nice potential because it just lately entered the highest three bitcoin mining locations.

The penetration of cryptocurrencies will enhance, the researchers predict, and curiosity in crypto will proceed to develop. For now, cryptocurrencies in Russia in addition to associated actions reminiscent of coin minting have been solely partially regulated, primarily with the legislation “On Digital Financial Assets.” Russian authorities are making ready to deal with numerous different regulatory elements, together with these pertaining to mining and taxation.

What’s your opinion on the findings of the research about the recognition of cryptocurrencies on Russian social media? Let us know within the feedback part beneath.

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