Study Highlights Most Popular Cryptocurrencies with Russian Social Media Users

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In a year when cryptocurrencies have seen their prices increase exponentially, it is not surprising that online chatter about this market has also increased significantly. According to research that was conducted on Russian social media, cryptocurrency is a hot topic and there are a number of cryptocurrencies that are popular, showing that Bitcoin is not the only one that’s on the mind of the users. Specializing in media monitoring in the CIS region, a company by the name of Brand Analytics recently published a report that ranked the most popular cryptocurrencies in conversations in Russian language on social media, according to how frequently they appear.

In order to evaluate the interest of people in crypto-related topics, the company’s experts went through more than 2.4 billion public messages that comprised of more than 46.7 billion words and were published in October 2021. The researchers used clustering technology for finding about 600 variants of names, which include synonyms that referred to cryptocurrencies and were mentioned last month in posts by Russian-speaking users. For instance, along with the Cyrillic spelling of bitcoin, which is биткоин, there were other worlds included in the statistics, such as биткоиня, биток as well as the Latin BTC, Bitcoin and more.

The world’s leading crypto in terms of market cap, Bitcoin is understandably at the top of the list of 10 most popular cryptocurrencies that Brands Analytics has provided of Russian-language social media users. Bitcoin had received a total of 4,415,200 mentions. The second on the list was the stablecoin tether (USDT, which had 855,800 mentions. Then came Litecoin (LTC) in the third spot that garnered 424,300 mentions and the fourth spot with 417,900 mentions was taken up by Ethereum (ETH). The next name on the list was that of XRP that received 217,400 mentions and it was closely followed with 216,300 mentions by DOGE.

The seventh spot belongs to Solana (SOL) which got 196,900 mentions, while the eighth position was claimed by Monero with 177,900 mentions. The ninth and tenth spot on the list belong to Bowscoin (BSC) and travala (AVA) with 158,400 and 122,000 mentions, respectively. These are the top 10 cryptocurrencies that have received the highest mentions on Russian social media and are clearly popular amongst the users. The study’s authors noted that this year had seen bitcoin’s price rally to new heights, as the cryptocurrency touched a new all-time high on November 10th.

However, the analysts were also quick to note that interested in crypto topics amongst Russian users hasn’t reached its peak as yet. They asserted that of the thousands of cryptocurrencies that exist in the market today, only 600 of them have received mentions in the Russian-speaking space. They pointed out that there was a lot of potential in Russia because it had recently become one of the top three destinations for mining bitcoin. The researchers have predicted that crypto penetration would only increase and interest in these digital currencies will also increase. Currently, Russia has partially regulated cryptocurrencies as well as mining activities with the law ‘On Digital Financial Assets’.


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