Online chatter about cryptocurrency has increased dramatically in the past year, despite rising prices. Research carried out on Russian social media has identified the most talked about coins and it’s not just bitcoin on people’s minds.
Russian Social Media Experts List Top-Respected Cryptos
Brand Analytics is a company that specializes in monitoring media in the CIS. It recently released a ranking of the most widely used cryptocurrencies based on their frequency in Russian-language social media conversations. In order to assess the interest in cryptocurrency topics, Brand Analytics’ experts looked at over 2.4 Billion public messages with 46.7 Billion words published on October 20,21.
The researchers used clustering technology to find over 600 possible names. For example, in addition to the standard “биткоин,” the Cyrillic spelling of bitcoin, the statistics include words such as “биток,” “биткоиня” as well as the Latin “bitcoin,” “BTC,” and others.
Bitcoin (BTC), the world’s leading crypto by market cap, tops Brand Analytics’ list of the 10 most popular digital coins on Russian-language social media with 4,415,200 mentions. Stablecoin tether is second, at 855,800. Litcoin (LTC), third at 424,300 and Ethereum (ETH) fourth respectively, has 417,900 mentions.
XRP comes in second place with 217.400 mentions. DOGE is close behind with 216.300. Solana (SOL), seventh with 196,000. Monero (XMR), eighth with 177.900 mentions and Bowscoin, (BSC), with 158.400 is in ninth place. Ava (travala) is the top cryptocurrency mentioned on Russian social media with 122,000.
Researchers note that bitcoin’s price has risen this year, with its value reaching new all-time highs. BTC topped $67,000 in October. It was also close to the $69,000 mark by early November.
The analysts believe that Russians have a growing interest in cryptocurrency topics. “There are thousands of different cryptocurrencies in the world, while only 600 of them are mentioned in the Russian-speaking space,” they remark, pointing out that Russia has great potential as it recently entered the top three bitcoin mining destinations.
According to researchers, cryptocurrency penetration will rise and crypto interest will only continue growing. For now, cryptocurrencies in Russia as well as related activities such as coin minting have been only partially regulated, mainly with the law “On Digital Financial Assets.” Russian authorities are preparing to address a number of other regulatory aspects, including those pertaining to mining and taxation.
What’s your opinion on the findings of the study about the popularity of cryptocurrencies on Russian social media? Please leave your comments below.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This is not an invitation to purchase or sell directly, nor a suggestion or endorsement of products, services or companies. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or imply loss.