Knowing what kind of names, teeters and word are already used in the crypto space can help new players come up with the right name, therefore, We analyzed the names of the top 1000 cryptocurrencies with the most market cap, based on the data from coinmarketcap.com on the 17th of sept 2018.
We excluded 14 "bitcoin" duplicates and one "etherium" duplicate, we were left with 985 names
In our analysis we analyzed 5 different names aspects:
- Brand name type
- Starting letter of each name.
- Common words used in the space.
- Letter frequency
- Name length.
1. Name types
We categorized the names into eight brand name typed:
One word brand names have constituted about 10.66% of company names in the crypto space. From our survey, of the top 985 cryptocurrencies with the most cap base, 105 names are under the format of "one-word". Examples include Ripple, waves, Dash, Cube and Bloom.
Two-word names make up for about 38.38%, amounting to 383 from our survey of active names in the crypto space. Examples are; Bitcoin, Dogecoin, Smartcash, TokenClub, ContentBox.
Three word names (phrase) were found to be 2.74%. 27 names in the crypto space are adapted in the three-word name pattern Examples include; VouchForMe, WeAresatoshi, EvergreenCoin, ICEROCKMINING, LocalCoinSwap.
Invented names constitute about 28.63% of names, which is from 282 names, from our survey. Examples of names found to be invented include Tether, Bancor, Divi, Hexx, and Hoqu.
In this category included 16 (1.62%) numeric names ( names that had at least one numeric character).
Examples include; district0x, AC3, B2Bx, C2Csystem, Rate3.
Misspelled brand names - Our statistics reveal about 49 crypto businesses run in the Misspelled domain, this rates about 4.06%.happen to be consciously and intentionally misspelled. Examples include; QASH, Nxt, Wagerr, Particl, Blox.
Prefixed brand names - About 32 names, (3.25%) were discovered to be prefixed in the cap base market. Examples are; Dmarket, Dnotes, Ulord, Yocoin, eBoost.
Suffixed names include ShareX, Cryptonex, TenX, Linkey, and Gifto. About 41 names (4.16%) were found to be suffixed.
Acronyms names - About 5.79% which continues about 57 businesses adopting the acronym pattern. Examples of crypto business names with acronyms are XPA, EOS, NEM, MCO, OST.
2. First letter count
The number of times a cryptocurrency starts with a particular letter was also examined.
Names starting with the letter " S" has the highest rating of 9.63%, 94 names start with it.
80 names (8.20%), have the letter "B" starting them.
75 names have the letter "C" starting them.
7.48% of the names, amounting to a number of 73 have the letter "A" starting them.
62 names have the letter "M" starting them;
61 cryptocurrencies were seen to start with the letter "D".
6.05% of names have the letter "E" starting them
Also, the letter "P" appears at the beginning of 55 names.
48 names have the letter "T" starting them, some of which include- TraDove B2B coin, TE-FOOD, TRAXIA, Trinity Network.
43 names have the letter "N" starting them, amounting to (4.41%) such as NewYorkCoin, Napoleon X, NolimitCoin, and others.
37 names (3.79%) begin with the letter "L" and examples are; LAToKeN, Linda, LGo Exchange. 32 names each begin with the letters "G" and "I" respectively with examples like (Golem, GXChain, ICON, and Iconomi) while 31 names begin with the letter " R"- RipioCredit, Ruff, Revain.
30 names (3.07%) begin with "H" and 27 names begin with the letter "O", 23 names (2.36%) also have the "F" letter starting them, 21 names can be linked with the letter "V", 20 and 19 names with the letters "Z" and "W" respectively.
Other names falling in the minority of rankings include the letters- "U","K","Q","X" ,"Y", and "J"; having ("16", "12", "11", "9", "3" and "3" counts respectively).
3. Common keywords in cryptospace.
We discovered some list of keywords employed by businesses in market capitalization, our results show that the word "coin" has the highest word count of "149" and appears to be on the use by many businesses, this rank up a percentage of 0.15%.
The second most frequently used keyword "chain" has a word count of "43", which though seem not to count as high as the word "coin", counts more than the word "token" with a total word count of "37" which in percentage rates 0.30%.
Other words with the least counts are the words "block" and "bit", having each, a count of "12" and "34". Employing In your keywords the word "coin" and "chain" might give your business a magical touch and a huge advantage in the cryptospace.
4. Letter frequency
We also carefully researched the most common letters used by already existing companies.
The letter "E", having the most frequency (757) and seem to be kept continually in the faces of customers. Next to this is the letter "O" with a frequency of (723) and "I" having (706).
Also, the letters "N" and "A" have frequencies of (674 and 603). These letters have common occurrence in numerous names. The letters "T", "R" and "C" have frequencies ranging from (550-493). Occurring highly in names are also the letters "S", "L", "U", "D", "P" with frequencies ranging from (377-206).
Other letters with minor frequencies are the letters "B", "H", "K", "Y","G", "V", "X',"W", "Z", "Q", "F", "J" with frequencies ranging from (198-100). Numbers from (0-9) also have low frequencies from 0-10 with the most frequently occurring number being zero (0).
The length of any name is of utmost importance. Adequate Knowledge about the right number of characters to include in your company's name will guide you right.
Names with a character length of 12+ were found to have the highest rankings form our research, which had name count of 169 (16.97%).
Names having character length ranging from 6-8 were found to have name count of (134-136), which makes them also of great consideration for businesses on the verge of starting up.
Furthermore, names with a length of about 4-5 characters were also found to have a name count of (86-88), making up a range of (8.63%-8.84%). 10 and 11 -character names had a name count of 69 (6.93%) and 41 (4.12%) respectively while names with 3 characters had a name count of 30 (3.01%).
From our stated stats, a name averaging eight (8) characters or under will give you the head start which you require. Long names might not necessarily do the deal for you. Keeping the name short-but not too short-and simple will do you good.
Startup companies with a cool budget should opt for a one-word dot-com domain.
Companies starting off with a pretty small budget should “cut their coat according to their cloth” and endeavor to look for two-word name, or an invented name with a tint of difference that will spell out most of what they stand to represent at a glance.
Considerations can also be given to the category of names tagged “misspelled”; this will attract target-audience attention.
The letters "J", "Q", and "Z" should be avoided if possible.
You can also play around the usage of the letters "E", "O", and "I"; as they have high-frequency records.
The use of numbers in a name has not given strong positive outcome and so should be avoided if possible.
Our juicy tips will not only help you keep up with the latest trends when applied, but it will also give you the necessary edge and push you need to soar high.