In the crypto market, cryptos will always be loved, and some are hated because of the founder, team, or social media accounts.
Institutions generally research Twitter because Twitter is the social media most tied to crypto.
This time the research has been carried out within a period between January 2021 to January 2022 by the TRG Datacenters institution. The report shows three cryptos that Twitter residents don’t like. Surprisingly these three cryptos are some of the largest in market cap.
The Three Most Hated Cryptos by Twitter Residents
The research found that on Twitter, the three cryptos with a reasonably large capitalization were the most disliked.
The first most disliked crypto is Ethereum, the second largest crypto by market cap.
According to the study, most Twitter users disliked Ethereum from January 2021 to January 2022. The sign is that 29% of tweets about Ethereum are negative tweets.
Most of these tweets refer to the high transaction fees of Ethereum and the postponement of Ethereum 2.0, promised in mid-2021.
In addition, negative tweets were also seen directed at Vitalik Buterin, the founder of Ethereum, who had experienced several incidents and controversies.
The second crypto is Bitcoin, the largest crypto in terms of market capitalization in the crypto world for now. It is noted that 27% of tweets regarding Bitcoin are negative tweets.
Most of these tweets refer to the magnitude of Bitcoin’s influence on the market so that it affects the correction of the entire crypto when it moves down.
In addition, negative tweets refer to the price of a safety asset such as gold and become more stock-like, making it more volatile.
The third is Cardano, who experienced negative tweets in as much as 16% of all tweets about Cardano. Most of these tweets refer to the relatively weak ADA price movement and Charles Hoskinson, Cardano’s founder, often makes controversial statements.
Dogecoin is still the most Popular Crypto
After further research, it turns out that Twitter residents have the most popular crypto for now.
It turns out that the most favored by crypto investors on Twitter is Dogecoin, with 94% of tweets about DOGE being positive tweets.
This finding is relatively surprising given the price of DOGE, which has moved down to date, erasing its appreciation in the middle of 2021.
Most likely, this finding is supported by the publication of a roadmap or plan for Dogecoin in 2022.
When commenting on this discovery, the CTO of TRG Datacenters, Chris Hinkle, found that investment assets tied to memes or jokes were the most favored assets for Twitter residents from January 2021 to January 2022.
“Memme (jokes) stocks seem driven by their penchant for retail investors. In the case of big crypto like Bitcoin, the tweets seem to be dropping, which indicates more institutional investors are in Bitcoin than retail investors.”
Support from Elon Musk to several artists is also why DOGE is the most popular crypto asset on Twitter.
Even though the price has been decreasing from mid-2021 to 2022, DOGE is still proving that the community is vital.
The second crypto favored by crypto investors on Twitter is Litecoin which has positive tweets in 91% of all tweets about it.
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