Cryptocurrencies are widely popular in Russia. In a recent statement, the Central Bank of Russia confirmed that Russians have transacted cryptocurrencies worth more than $5 billion. With high crypto adoption rates, Russian citizens also have preferences in their cryptocurrencies. While Bitcoin remains the standard as with the rest of the world, some other tokens are also very popular in Russia.
A new survey from Brand Analytics reveals what cryptocurrencies are the go-to options for social media users in Russia. Their method of survey was also unlike traditional questionnaire surveys. Instead, they used automation tools to identify every instance of crypto being mentioned in social media. From this cluster of words, they have found out which cryptocurrencies are the most talked about.
According to the results, Bitocin was unsurprisingly at the top. However, the second place holds more of a shock since most people would expect Etehreum to get that position. Instead, the stablecoin tether (USDT) is second with 855,800 mentions. Litecoin comes after that with 424,300 mentions and EThreum follows with 417,900 mentions. XRP is not so far away, with 217,400 mentions. Dogecoin follows close as it has recently been a subject of intense debate and discussion inc crypto communities. Privacy-focused cryptocurrency Monero (XMR) is eighth with 177,900 mentions. Bitcoin leads the race by far, with 4,415,000 mentions. The dominance of Bitcoin is ubiquitous, but it is the rise of other cryptocurrencies that are drawing attention. The report gives a comprehensive picture of what other Russian crypto landscape is functioning.