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The last 10 years have been transformational for cryptocurrency, moving from an experimental idea in which the overwhelming bulk of early projects failed to a mainstream alternative to traditional investment where 1/3 of American small companies accept its currencies as payment for goods and services.
This doesn’t always suggest that the feeling towards crypto is always positive. Many high-profile persons are crypto-skeptics, from billionaire investors like Warren Buffett to legislators like New York’s Attorney General Letitia James. While some city mayors, especially in New York City and Miami, desire to attract a wave of crypto-based investment into their city economies, the dispute still rages on whether digital currencies are good for our civilization.
One reason for anxiety for many individuals is the industry’s deficiency of oversight. The boom-and-bust economy of crypto appeals to well-informed investors, but it can be anxiety-inducing for those with less knowledge. The volatility of the market has led to calls for market regulation, which the United States Department of the Treasury answered in 2022 in an effort to stabilize crypto investment for mainstream consumers.
With more than 12 thousand coins on the market, it can be overwhelming for new investors to choose where to spend their hard-earned money. But which cryptocurrencies do people worldwide love and hate the most? Coin Kickoff has analyzed the cryptocurrency landscape to find out.
Most countries love Ethereum (#ETH) and Solana (#SOL).
68.7 percent of tweets about Stellar (#XLM) contain positive sentiment – the highest in the United States for any coin on the market.
Bitcoin (#BTC) is the most hated currency, with negative sentiment strongest in 16 nations.
People voice their frustration in 32.3 percent of posts about Axie Infinity (#AXS), making it the most hated coin in the United States overall.
The Most Loved Cryptocurrency in Every Country
The high-performing cryptocurrencies Ethereum and Solana each rank as the most loved coin in 10 nations – tied as the most of any cryptocurrency worldwide. Meanwhile, in the United States, 68.796 of tweets about the Stellar coin are positive – the most of any currency in the country.
The Most Hated Cryptocurrency in Every Country
Buying and trading in cryptocurrency can be stressful, but some digital currencies are more challenging to work with than others. Investors love assets that appreciate in value and hate assets that decline in value. It may be no surprise that Bitcoin — which lost more than half of its value in 2021 — is the most hated coin in 16 countries worldwide, the most of any cryptocurrency. In Qatar, 20.4% of tweets about Bitcoin are negative — most of any country.
The Top 10 Most Loved and Hated Cryptocurrency Worldwide
Worldwide, 59.3% of tweets about Algorand are positive, the most of any cryptocurrency. While popular cryptocurrencies like Bitcoin have large carbon footprints, Algorand and other beloved coins aim to be carbon neutral. Meanwhile, 15.0% of tweets about XRP — one of the worst-performing coins of the past several years — are negative, making it the most hated cryptocurrency worldwide.
The Most Loved Cryptocurrency in Every U.S. State
Mapping the most loved cryptocurrency in every American state reveals a few regional trends In the Southwestern states of Colorado, Arizona, and Nevada, investors love Decentraland the most of any cryptocurrency. In New York, the capital of the ad tech industry, the most valued coin – with 61.9% positive tweets – is the Basic Attention Token, a coin designed for the digital advertising industry.
The Most Hated Cryptocurrency in Every U.S. State
Investing and gaming can be frustrating endeavors. It may be no surprise that Axie Infinity, a coin designed for use in a video game of the same name, is the most hated coin in 10 states – the most of any cryptocurrency. But, according to the map, no one hates Axie more than the people of Colorado, where 55.496 of tweets about the digital currency are negative – the most of any U.S. state.
The Top 10 Most Loved and Hated Cryptocurrency in the United States
Across the U.S., 68.796 of tweets about Stellar are positive, the most of any cryptocurrency in the country. Meanwhile, 32.396 of tweets about Axie Infinity are negative, making it the most hated cryptocurrency in the country. Generally, well-performing, energy-efficient coins are the most loved, while unstable, poorly performing coins with major price crashes are the most hated.
Methodology
To determine the most loved and hated cryptocurrency in every country and state, Coin Kickoff started by searching for geotagged tweets containing either the full name of a cryptocurrency or its cashtag in every country and U.S. State. They used a seed list of the top 100 biggest cryptocurrencies by market cap on CoinMarketCap.com.
After retrieving the tweets, Coin Kickoff analyzed their sentiment by applying a Hugging Face AI algorithm to each tweet’s text. This algorithm returns the possibility of a text being positive, negative, or neutral. The team calculated the proportion of positive and negative tweets for all tweets about each crypto coin. They then identified the most hated crypto in every country or U.S. state as the one with the highest % of negative tweets and vice versa for the most loved crypto.
The Coin Kickoff team filtered the tweets to allow up to a maximum of one tweet per account per day and no more than ten tweets from the same account. They only considered tweets in English. Coin Kickoff only reported results for countries with more than three cryptos that passed the filtering criteria. To ensure that the tweet’s main topic is cryptocurrencies, they only considered tweets containing the full name of the cryptocurrency if it clearly represents crypto (e.g., Bitcoin, Litecoin). Otherwise, the team only considered the tweets that contained a cashtag referencing the crypto.
