Cryptocurrency is #1 in Top 10 Most Searched Things and Phenomena in 2017 on Yandex, Russian search engine

The biggest search engine in Russia, used by some residents even more often than Google, has prepared an annual rating of this year’s trends. According to this rating, the Russian equivalent for “cryptocurrency” (криптовалюта) is the thing or phenomenon which had most search queries over this year — it’s the first in Top 10 Things and Phenomena. Yandex is widely used in Russia and former USSR countries.

Cryptocurrency was more interesting for Russians than: fidget spinner, iPhone X, Samsung Galaxy S8, iPhone 8 and even rap battles which became a hot topic in Russia due to new rappers on the local scene. The Russian equivalent for “blockchain” (блокчейн), although penultimate in the list, is still more popular than the new banknotes of 200 and 2000 Russian rubles issued this year.

This meteoric rise of interest and popularity can be connected with several factors. Firstly, with the rise of Bitcoin’s price: it jumped from $962 to $16,980 during this year, or more than tenfold. Secondly, with the desire of Russian citizens to know more about digital currency after multiple and sometimes contradictory statements of the Russian officials on this theme. And, lastly, with the following: as the businessman with Russian origins from Silicon Valley once told, there are no fully free venture markets in Russia, and this is why cryptocurrency and business related to it is so interesting for Russians.