Bitcoin world’s most hated cryptocurrency
Bitcoin world’s most hated cryptocurrency
It helped make Bitcoin the most hated virtual currency in 2022, according to a study by crypt education website Coin Kickoff.
The largest unpopular coin in 16 countries, led by Canada, Qatar and Finland, is the world’s largest cryptocurrency by market value.
Ethereum and Solana were the most popular globally, led by Indonesia, Russia and Uzbekistan.
Coin Kickoff came up with its love/hate rating by analyzing over 835,000 tweets with artificial intelligence HuggingFace.
Bitcoin in 2010 It has lost 70% of its value by 2022, prompting investors to express their frustration on social media. Ethereum, the crypto’s second-tier currency, fell almost as much, falling 67.5%, but survived.
Coin Kickoff noted that, unlike Bitcoin, many of Ethereum’s projects are based on decentralized finance (DeFi) — which aims to expand the use of cryptocurrencies for complex transactions such as loans.
Solana would love to lose 94% of the value. This network has suffered more than five outages, multiple hacks and the collapse of FTX bankruptcy and sister company Alameda Trading, which holds 10.7% of its tokens, Cointelegraph reported.
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Close line up
Bitcoin sentiment may improve with the recent price recovery.
Ian Wright, the crypto expert behind Coin Kickoff, told FOX Business, “Although it is still at a high of 67%, investors are confident that the economic climate in the US and Bitcoin as the pre-eminent crypto coin will make further gains as the year progresses.”
FxPro senior market analyst Alex Kuptsykevich was more cautious. “Despite the positive performance of the US stock indices, on Wednesday Bitcoin continued its unsuccessful attempt to consolidate above $ 23,000. The crypto market, at least, stopped after gathering since the beginning of the year,” he said.
Wright added that investors will be looking to see if ethereum can hit $5,000 in 2023.
“Like Bitcoin, its value is increasing due to economic conditions. It is still highly respected in the US crypto community, because it has long-term potential and is the blockchain base for many of the industry’s most exciting prospects,” he told FOX Business. .
Solana is benefiting from Bonk, a new coin launched on the blockchain in December. Bonk rocketed 5,000% in early January, but after falling back, is up 910% year-to-date since last week.
Surprisingly, Bitcoin was not America’s most hated virtual currency.
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America’s top 5 percent hate negative tweets
1. Axie Infinity (32.34%) In the year It has lost 90% of its value by 2022. Hackers stole $625 million from Ronin Networks, and the game’s player base has declined due to virtual 3D world competition.
2. 1 inch network (31.59%) In the year In 2021, it showed a peak value of about $7.50 against the dollar. Due to the widespread chaos in the crypto market in 2022, the performance was very slow.
3. Terra (27.35%) In the year It was one of the high-profile victims of crypto in 2022. Despite startup Terraform Labs receiving $200 million in funding, blockchain crashed in May 2022 — wiping out $45 billion in market capitalization in one week. Founders Do Kwon and Daniel Shin have been accused of financial irregularities in Singapore, Korea and the US, and authorities in Seoul have issued an arrest warrant for Shin in November 2022.
4. Uniswap (22.00%) is up by $42 against the dollar and has yet to see its value cross the $10 mark.
5. Holochain (21.24%) It is billed as a more ethical alternative to centralized crypto offerings. Holo empowers customers to make their own choices and create greater transparency around blockchain technology. However, the coin’s value is still only $0.02 against the dollar.
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America’s top 5 likes by percentage of positive tweets
1. Stars (68.72%) By 2021, it has partnered with the Ukrainian government to develop its digital infrastructure. The coin’s value rose further when Franklin Templeton became the first investment firm in the US to launch a ‘tokenized’ mutual fund using the Stellar blockchain.
2. EOS (64.29%) It has gained popularity for its versatility, open source capabilities, and user-friendly platform that helps developers and investors alike. That transparency and accessibility make it popular with investors.
3. Central (53.89%) It currently has the largest metaverse online. Many predict that its coin will be equal to the dollar by 2023. The major interest in the platform from brands including Adidas, Dolce & Gabbana, Samsung, Sotheby’s and Tommy Hilfiger makes it even more relevant as a concept to the general public.
4. Close to protocol (53.03%) In the year It will peak in early 2023. Many investors believe it has some of the most reliable technology on the market, with an active developer community and an emphasis on security.
5. Ravencoin (51.76%) As a peer-to-peer platform, it offers more coin versatility than its rivals.
Reuters contributed to this report.
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