Among 80 million Facebook members in the Philippines, Bitcoin remains the top trending crypto currency during the month of April 2021. BluePrint.PH scanned the keywords Bitcoin, Dogecoin, Ethereum and Litecoin, the most popular cryptocurrencies in the country today, and monitored total posts of 2,472 in April 2021.
The most popular crypto currency is still Bitcoin ($BTC), the original cryptocurrency. There were 1,917 posts on Bitcoin and shared 42,000 times and an engagement score of 70,412. Bitcoin has been a trending hot topic since the crypto currency’s value nosedived despite a huge rally this year. Bitcoin’s price increased six times from the previous 2018 low and currently is at 35,000$ per bitcoin, a far cry from the normal 50-60,000$ these past few months.
Institutional investors have pulled out and have cashed out. Elon Musk has spoken against the excess fuel consumption that every bitcoin smart contract consumes. Tesla has also withdrawn payments through bitcoin for their electric vehicle models. The top influencer for Bitcoin is the Facebook page, CointelegraphEs, with 308 posts.
The top engaging post in the Philippines for Bitcoin, is from GMA News — The total value of all bitcoin topped $1.0 trillion on Friday, capping a spectacular record-breaking week for the world’s most popular cryptocurrency.
Placing second as a trending topic among Filipino Facebook members is Dogecoin ($DOGE) with an engagement score of 12,725 from 214 posts. Dogecoin is cryptocurrency made originally to mock the concept of crypto currencies. It does not have utility but its primary ambassador, Elon Musk, is pro-Dogecoin and has announced Doge-1, the first ever space flight to be paid all in DOGE. Musk has also tweeted that Dogecoin consumes electricity much lesser than bitcoin, which connected with Elon Musk’s own messaging in his championing renewable energy through his electric vehicle company Tesla. There is 10,000 DOGE being minted everyday which removes the scarcity part but “the people’s coin” has been proving a lot of people wrong as it has done 5x and is aiming to go to a dollar.
In third place, with an engagement score of 12,091, from 317 posts, is Ethereum ($ETH), a crypto currency developed by Vitalik Buterin in 2014. It is already being used by a lot of institutions all over the world. It has rallied to over 4,000$ per Ethereum a far cry from the previous 200$ price from a year ago. But the main criticism for Ethereum is its high gas fees when trading, unlike other crypto currencies such as XRP (Ripple) which only subtract 1 XRP per blockchain transaction.
The fourth trending crypto currency in the country is Litecoin ($LTC) with 24 posts and an engagement score of 453. This is a cryptocurrency that was an early spin-off of bitcoin. It has been mainly trending due to PayPal accepting it as a mode of payment. The concept of using currencies other than money to pay for different things is always a sight to behold and Litecoin is no exception to this rule. It rivals other cryptocurrencies such as Ethereum Classic ($ETC), Chainlink ($LINK), and the like.