Australia’s favourite crypto? It’s EGLD… um, apparently
Which cryptocurrencies does the world love or hate? Is such a question important? Crypto research and information website Coin Kickoff thinks so. And it appears EGLD is king in Australia.
The site has put together quite a comprehensive study on this, analysing geotagged tweets from around the globe to find each country’s most loved (and hated) cryptos.
It did so by analysing more than 835,000 Twitter posts around the 100 largest cryptocurrencies by market cap by using “HuggingFace” – a sentiment-tracking AI tool that can apparently detect positivity and negativity in online messages.
So then, may as well start with our own backyard. What’s the deal Down Under?
Elrond (EGLD), a layer 1 protocol competitor to Ethereum (ETH) surprisingly came out on top as the most loved crypto asset in this country, achieving 74.19% in the research’s “positive tweets” metric.
The reason it surprises us is partly because EGLD is actually not called Elrond any more and tends to fly under the radar a little bit.
Granted, the protocol is quite a well-respected one and is a top 50 coin, but it’s certainly not as prominent as a good half dozen other smart-contract platforms we can think of.
Late last year, it rebranded to be called MultiversX, apparently partly because of underwhelming performance in that extremely competitive area of the crypto space. The shift was also part of the protocol’s strategy to focus more heavily on the metaverse and tech to help develop that particular sector.
Conversely, the very widely used auto market maker and decentralised exchange Uniswap (UNI), appears to be the “most hated” cryptocurrency in Australia, copping a 25% negative tweet rating.
Grain of salt, all this obviously, but let’s see what the research found out more broadly…
Some of the overall key findings of the report were as follows:
• Ethereum (ETH) and Solana (SOL) are loved by the most countries.
• 68.7% of tweets about Stellar (XLM) contain positive sentiment — the highest in the US for any coin on the market.
• Turn away now, Bitcoin maxis, because believe it or not, Bitcoin (BTC) is the most hated currency globally, with negative sentiment strongest in 16 countries.
• People voice their frustration in 32.3% of posts about Axie Infinity (AXS), making it the most hated coin in the US overall.
Bitcoin – most hated? Just a guess, but this might simply be because Bitcoin captures easily the most attention from the media, your grandma and taxi drivers alike. And because it’s front and centre, it’s the coin that naturally draws the most ire from those who’ve, for whatever reason or non reason, decided it’s part of their narrative to deride crypto.
You can check out Coin Kickoff’s full analysis here.