Study Reveals Top 20 Cryptocurrencies and Web3 Projects Trending on Twitter

Printed: 28 March 2023, 2:01 pm Up to date: 28 Mar 2023, 2:01 pm

Streamr, a data-sharing platform for web3, has not too long ago analyzed hundreds of thousands of tweets utilizing Twitter’s API to find out which cryptocurrency generated probably the most buzz through the seven days between March 10 and March 16, 2023.

The outcomes of the research revealed that Bitcoin was the most-tweeted-about cryptocurrency challenge, with 1,650,951 tweets that includes the hashtag #Bitcoin. The primary decentralized digital foreign money at the moment holds the highest spot when it comes to market capitalization amongst all cryptocurrencies.

Binance’s BNB emerged because the second most talked-about cryptocurrency challenge on Twitter, with #BNB showing in 638,662 tweets through the interval. BNB was initially launched by way of an ICO in 2017 to reinforce the performance of the Binance change and its ecosystem. With its market capitalization, BNB stands because the fourth-largest cryptocurrency challenge. 

Ethereum (ETH) secured the third place, with 426,769 tweets mentioning #Ethereum. The cryptocurrency is second solely to Bitcoin when it comes to market capitalization. The fourth hottest cryptocurrency challenge on Twitter was Solana (SOL), with 242,117 tweets that includes #Solana. Nevertheless, Solana has been in hassle for the previous months. Current knowledge reveals that the Solana community’s every day energetic customers decreased by 11.7% up to now three months, indicating a decline in community exercise. This drop additionally resulted in decreased income for Solana throughout the identical interval.

GameFi ranked fifth with 229,179 tweets over seven days. The time period GameFi refers to decentralized finance protocols that incorporate gamification. Examples embrace metaverse initiatives, corresponding to Decentraland, The Sandbox, and Axie Infinity. The GameFi sector is increasing quickly, and the mixed worth of the first blockchain recreation markets has now exceeded $14 billion. 

Polygon (MATIC) ranked sixth with 142,072 tweets that includes the hashtag #Polygon. It’s ranked eighth by market capitalization. Ripple (XRP) ranked seventh with 141,393 #XRP tweets. One other common crypto challenge, Cardano (ADA), ranked eighth with 120,050 tweets.

Aptos, a proof-of-stake Layer 1 community, ranked ninth with 117,891 tweets utilizing #Aptos over seven days. It was based by builders who beforehand labored on Diem, Meta’s deserted blockchain challenge.

RichQUACK (QUACK), a hyper deflationary meme token on the Binance Sensible Chain, ranked tenth with 94,688 tweets that includes #RichQUACK. Regardless of a current lower in value, RichQuack and its $QUACK token stay common on social media, with the token trending on Twitter with none important trade strikes. In line with the social intelligence platform Lunarcrush, RichQuack is without doubt one of the most influential memecoins within the trade, with elevated social mentions, engagements, and dominance regardless of a value dip up to now month.

The record of cryptocurrencies and blockchain initiatives ranked 11 to twenty included notable names like Mina, Tezos, Dogecoin, Uniswap, Saitama, HEX, MultiversX, Avalanche, Optimism, and Cosmos.

Whereas a excessive variety of tweets can point out important hype and a focus surrounding a cryptocurrency challenge, this doesn’t essentially translate to long-term success or potential. There may very well be speculative exercise, hype, or different short-term elements that might not be sustainable. Unfavorable sentiment on social media can even result in a lack of confidence amongst buyers, doubtlessly inflicting a sell-off and a ensuing value crash.

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