The interest in different types of digital currencies has been rising lately, with many people investing in various kinds of them.
However, not all cryptocurrencies are thought of in the same way. Some are embraced with enthusiasm by enthusiasts and traders, while others remain met with skepticism.
What are the most beloved tokens and which ones do people hate the most? CoinKickoff, an AI-powered sentiment monitoring software from HuggingFace, sought to answer these questions by analyzing almost 1,000,000 tweets about the 100 largest cryptocurrency market caps.
Let’s take a look at the results.
The Most Admired Cryptocurrencies
Ethereum and Solana are in a tie for first place. In particular, they ranked in the top 10 of most loved coins in Sweden, Chile and Costa Rica.
Cardano and Tezos are the most appreciated cryptos in six countries, thus sharing third place.
Elrond made a surprising appearance. This platform combines blockchain and cryptocurrency to manage high volumes of transactions. It is one of the more complex smart contract platforms and requires a lot of knowledge to understand. Nevertheless, it achieved the highest score in five countries, including Bangladesh and Australia.
Not So Good News for Bitcoin
Bitcoin is the only cryptocurrency that exists and still has the highest market capitalization. It has a strong record of stability and progress, as seen in the crypto space. In 2011, when it was worth only $1, it has experienced a growth of more than 20,000% in the past 10 years.
Bitcoin is becoming more mainstream with companies like PayPal and Square allowing their users to buy and sell Bitcoin. Institutional investors like Goldman Sachs and BlackRock have also started offering investment products linked to the Bitcoin price. Additionally, an increasing number of merchants and companies are open to its acceptance, including small online retailers, big physical stores and a variety of service providers such as accountants, law firms and real estate agents.
However, according to the CoinKickoff sentiment analysis, Bitcoin is one of the most disliked cryptos in 16 countries, including Finland, Vietnam and Uzbekistan.
The Most Hated Cryptocurrency on Earth
Axie Infinity is the second most disliked cryptocurrency. According to CoinKickoff, it is hated more than any other crypto in seven countries, including Saudi Arabia and Turkey.
Axie Infinity is a blockchain-based game where players can raise, breed and battle fantasy creatures, called Axies. Participating in the in-game finance system can help gamers earn cryptocurrency, such as by breeding rare species of Axies or farming in-game assets.
One of the possible reasons it is so hated is its value. The price of coins purchased during the crypto summer of 2022 dropped by 1,300%. Additionally, in 2022 hackers managed to steal more than $620 million from the community.
Uniswap, XRP and Apecoin share third place on the list of most hated cryptocurrencies. They are despised in six different countries.
Crypto Mood in the US
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