Cryptocurrencies have grown in popularity in recent years, with many people investing in different types of digital currencies.
But not all cryptocurrencies are the same. And they certainly are not considered equal.
Some are well-loved by investors and enthusiasts, while others are met with their fair share of skepticism and criticism.
But which of those cryptos do people love the most? And which digital tokens do you absolutely hate?
Those are the two questions that inspired the latest study from the crypto experts at CoinKickoff. And they found the answers by turning to that great 21st century arbiter of public opinion: Twitter.
The CoinKickoff team posted nearly 1 million tweets mentioning the 100 largest cryptocurrencies by market cap via the AI-powered sentiment tracking software HuggingFace.
They then translated all that data into various global maps showing the most loved and hated cryptocurrencies in each country.
Let’s take a look at the results.
The most loved cryptocurrencies
Ethereum and Solana tie for first place. They were ranked as the most loved coins in 10 countries. The love for Ethereum and Solana is particularly strong in Sweden, Chile and Costa Rica.
Cardona and Tezos are the most loved cryptocurrencies in six countries, putting them in joint third place.
Elrond makes a surprise appearance. Elrond is a cryptocurrency and blockchain platform designed to handle large volumes of transactions. It is one of the more complicated smart contract platforms, which requires a lot of technical expertise to appreciate. Still, he managed to reach the top in 5 countries. They include Bangladesh and Australia.
Bad news for Bitcoin
Bitcoin is the original cryptocurrency and remains the largest by market capitalization.
And, at least in crypto terms, it has a strong track record of stability and growth. In 2011, you could have acquired an entire Bitcoin for just $1. And despite an 80% drop in value from the 2022 high, that $1 would still be worth more than $20,000. It is not a bad investment.
Bitcoin is also on the brink of mainstream adoption. Companies like PayPal and Square have started allowing their clients to buy and sell Bitcoin on their platforms, while institutional investors like Goldman Sachs and BlackRock have started offering investment products tied to the Bitcoin price.
Another factor driving widespread adoption is the growing number of merchants and businesses that accept Bitcoin as a form of payment. This includes everything from small online retailers to large physical stores, as well as a wide range of service providers such as law firms, accountants, and real estate agents.
Increasing regulatory clarity and support from governments and central banks for Bitcoin and other cryptocurrencies are also contributing to their widespread adoption.
But despite its strong fundamentals, Bitcoin still sits at the top of CoinKickoff’s most hated crypto list.
According to Twitter sentiment, Bitcoin is the most hated crypto in 16 countries, including Finland, Vietnam, Finland, and Uzbekistan.
Cryptocurrency users in Qatar seem to have the biggest problem with Bitcoin. More than 1 in 5 (20.4%) of Bitcoin-related tweets coming out of this Gulf State contain what Bitcoin enthusiasts call fear, uncertainty and doubt, also known as FUD. That’s the highest percentage of negative tweets anywhere in the world.
The most hated cryptocurrencies in the world
Axie Infinity is the second most hated cryptocurrency. According to CoinKickoff data, it is hated more than any other cryptocurrency in seven countries, including Saudi Arabia and Turkey.
Axie Infinity is a blockchain-based game that allows players to raise, breed, and battle fantasy creatures called “Axies.” Players can also earn cryptocurrency by participating in the in-game economy, for example by breeding rare Axies or farming in-game assets.
But why do so many people hate Axie? Well, it’s probably due to the price, with an emphasis on the bottom. Investors who bought during the crypto summer of 2022 saw the value of their coins drop by 1,300%. Oh.
The network also suffered a major cyberattack in 2022, in which hackers stole more than $620 million.
Uniswap, XRP, and Apecoin share third place on the most hated list. They are hated in six countries each.
Crypto sentiment in the US
About 20% of adults in the US own cryptocurrencies.
And if this study is any good, we can bet that many of them have a little bit of Stellar. HuggingFace analyzed almost 70% (68.72%) of the geotagged tweets in the US that mention Stellar as positive.
Stellar Lumens (XLM) is a digital asset and cryptocurrency that facilitates transactions on the Stellar network. The Stellar network is an open source decentralized payment protocol that enables fast and cheap cross-border transactions.
The Stellar network uses its native digital asset, XLM, as a bridge currency to facilitate transactions between different fiat and cryptocurrencies. The Stellar network also allows the creation and issuance of custom tokens, making it useful for various use cases such as remittances, micropayments, and mobile money.
When it comes to negative crypto sentiment in the US, Axie Infinity makes another unwanted appearance. Just under 1 in 3 (32.34%) of US tweets mentioning the coin were less than flattering; that makes Axie Infinity the most hated crypto in the US.
What does the study tell us about the future of cryptocurrencies?
It is worth noting that the CoinKickoff data is based on a survey of a relatively small sample of people and should be taken with a grain of salt.
Also, the cryptocurrency market is very dynamic and sentiment towards a particular cryptocurrency can change rapidly based on market conditions or recent news.
Future investment in cryptocurrencies
Despite the skepticism and criticism some cryptocurrencies face, it is clear that digital currencies are here to stay. Bitcoin and Ethereum, in particular, have established themselves as major players in the cryptocurrency market and are likely to continue to be popular with investors and enthusiasts.
However, it is important that investors do their own research and are aware of the risks and controversies associated with certain digital currencies before making any investment decisions.
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