Brand Analytics: Bitcoin and Tether are the most popular cryptocurrencies in Russia with reference to research by Brand Analytics. Tether and Litecoin are also in the top 3.
To find out which digital assets have become favorite among Russians, experts analyzed more than 2.4 billion publications posted on domestic social networks in October. “Bitcoin became the most popular cryptocurrency in October – Russian-speaking users mentioned it in 4.4 million messages. For the cue ball, a year passed in the rally – in the summer the cost of one cue ball was equal to $ 30 thousand, and in October the price renewed its historic maximum of $ 69 thousand, “- said the experts of Brand Analytics.
Stablecoin Tether, pegged to the dollar in a 1: 1 ratio, was mentioned in publications 855 thousand times. Litecoin has appeared in messages of Russians 424 thousand times. Ethereum, Ripple, Dogecoin, Solana, Monero, BowsCoin and Travala, the second largest by capitalization, were also named among the most popular cryptocurrencies in Russia. Each of these assets had more than 100 thousand mentions.
“The peak of interest in the topic among Russians has not yet passed. There are thousands of different cryptocurrencies in the world, while only 600 of them are mentioned in the Russian-speaking space. However, Russia has great potential – recently the Russian Federation entered the top 3 countries for mining bitcoins, due to which the penetration of cryptocurrencies will increase, and interest in the topic will continue to grow, “the authors commented on the results of the study.
In November, the Central Bank estimated the annual volume of transactions of Russians with cryptocurrencies is 5 billion dollars (350 billion rubles). The amount is already comparable to the investments of Russians in the shares of foreign companies (474 billion rubles in 2020). The residents of the country were also named by the Central Bank as one of the most active participants in the crypto market.