With every flip of the market, there are at all times cryptocurrencies that make it to the highest because the most-liked cash amongst traders. This time round, a survey that was carried out between January 2021 and January 2022 has proven the favourite cryptocurrencies amongst traders. Surprisingly, the highest cash appear to be essentially the most hated on the social media platform, Twitter, whereas meme cash emerge as essentially the most beloved cryptocurrencies.
Buyers Don’t Like Bitcoin, Ethereum
Within the study that was carried out by TRG Datacenters on the favored social media platform Twitter, they discovered that traders weren’t talking positively in regards to the prime two cash. By analyzing the tweets mentioning these standard cryptocurrencies and the sentiment with which the customers talked about them, they have been in a position to extrapolate which have been essentially the most hated cash on the web site.
The second-largest cryptocurrency by market cap, Ethereum, had emerged on the prime of the record of essentially the most hated cryptocurrencies. In line with the examine, the digital asset had essentially the most tweets with adverse sentiments with 29% of all posts about Ethereum on Twitter being adverse.
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Subsequent up was bitcoin which carefully adopted behind Ethereum. The coin which is arguably single-handedly liable for the recognition of the crypto market seems to not be profitable the congeniality contest both. It’s proven that bitcoin posts have been adverse 27% of the time.
Cardano made third place on the record with 16% of all posts being adverse. Whereas Litecoin got here out 4th place as essentially the most hated cryptocurrency on Twitter with a complete of 8% of all tweets being adverse. Final on this 5-number record was Dogecoin with solely 6% of all tweets being adverse. Nevertheless, the record for the most-loved cryptocurrency would see the meme coin emerge victoriously.
Buyers Love Dogecoin
Although Dogecoin had positioned among the many most hated cryptocurrencies, it didn’t take away the truth that traders love the meme coin. That is obvious within the record of most-loved cryptocurrencies that was additionally printed by TRG Datacenters.
Additionally holding 5 cash, it’s principally the reverse of the most-hated record. Right here, Dogecoin appeared on the prime of the record with 94% of all posts on Twitter being optimistic. It’s the highest of all of the cash surveyed indicating that traders nonetheless consider within the digital asset regardless of the downtrend.
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Litecoin positioned second on the record with 91% of all posts being optimistic. Cardano, Bitcoin, and Ethereum positioned third, 4th, and fifth, with 84%, 73%, and 71% of all tweets being optimistic respectively.
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Commenting on Dogecoin showing because the most-loved cryptocurrency, Chris Hinkle, CTO at TRG Datacenters, mentioned that “Meme shares, particularly, gave the impression to be pushed by retail traders. Within the case of bigger currencies resembling Bitcoin, tweets have truly lagged value actions, implying some extent of institutional lean.”
Assist from notable figures resembling Elon Musk and most not too long ago, rapper Ice Dice has pushed Dogecoin to develop into a favourite of many. Thus, it’s no shock to see the meme coin being billed because the most-loved crypto.
Featured picture from Finbold, chart from TradingView.com