Since its birth, the cryptocurrency market has grown by leaps and bounds. Although Bitcoin was the first and foremost, there are already more than 20,000 cryptocurrencies on the market, with different uses and design philosophies. The world of altcoins today includes a wide variety of assets, from cryptocurrencies with smart contracts (such as Ethereum) to purely speculative cryptocurrencies (such as Dogecoin).
Indeed, each cryptocurrency has a market that it targets and certainly there is not always a coincidence between one and the other, and this is made known through social networks. The ICO Analytics group published a report on the 20 most discussed cryptocurrencies in the world today on social media. The data indicates that, during July 2022, neither Bitcoin nor Ethereum were the most discussed cryptos (despite both having suffered strong declines in their price) nor was it a memecoin, like Shiba Inu, but rather Solana was crowned with the first place. Solana was the most discussed cryptocurrency last month, with a share of 28% on all social networks. Ethereum came in second with 18%, while Bitcoin came in a distant third with 5.9%. Additionally, Shiba Inu ranked fourth among the most discussed cryptocurrencies on social media with 4.6%.
The complete ranking with the 10 most discussed cryptocurrencies in July 2022, according to this analysis, is as follows:
- Sunny – 28%
- Ethereum – 18%
- Bitcoin – 5.9%
- Shiba Inus – 4.6%
- USDT – 4.1%
- Ripple – 2.1%
- Dogecoin – 1.9%
- Elrond – 1.8%
- Cardan – 1.8%
Top 20 most discussed cryptocurrencies on Twitter in July 2022. In the chart below you can find a share of mentions of each coin among top 150 coins by market cap.$sun $eth $btc $shib $usdt $bnb $ada $xrp $doge $egld $matic $xtz $avax $usdc $moon $busd $gmt $ens $ftm $atom pic.twitter.com/biQAb1yUyA
— ICO Analytics #StandWithUkraine 🇺🇦 (@ICO_Analytics) August 7, 2022
From the ranking you can understand where the interest in each coin comes from. In the case of Solana, it responds to the exploit that the network suffered and allowed wallets to be emptied. The security flaw caused losses of USD 8 million among network users. Meanwhile in In the case of Ethereum, one of the most debated topics is the change of consensus protocol.
Regarding Bitcoin, it is perhaps the cryptocurrency that has the most weight of its own to set the agenda of social debate, given its importance for the rest of the ecosystem. Something similar happens with USDT and with Binance. Matic is ranked 11 with 1.6%. Also, Luna was among the 20 most discussed cryptocurrencies last month and ranked 15th with 0.9%.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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