Bitcoin

Bitcoin mentions on Twitter almost exactly mimic the dominance of market capitalization

Most of Bitcoin’s (BTC) mentions on Twitter may seem logical, but The reason for this may be more calculated than many thought.

According to the latest data, Bitcoin’s popularity on Twitter by the number of tweets Not only is it the tallest of all cryptocurrencies, it is also proportional to market capitalization..

BTC maintains 65% dominance

Until May 26th Bitcoin’s tweets totaled 26,778. Tweets, including six others, Ether (ETH), XRP, Litecoin (LTC), Tezos (XTZ), EOS (EOS) and Chainlink (LINK), reached approximately another 13,000.

Bitcoin mentions on Twitter almost exactly mimic the dominance of market capitalization
Bitcoin mentions on Twitter almost exactly mimic the dominance of market capitalization

Out of a total of around 39,000 tweets The share of Bitcoin is therefore around 68%. CoinMarketCap data show that at the time of printing The dominance of Bitcoin’s market cap is 65.7%.

Market capitalization refers to the embedded value of all units of a cryptocurrency that have been created. Bitcoin did not always have the most, for example its “domain” in January 2018 was just a misnomer with only 32%.

But now The similarity between the domain and the number of the tweets is surprising. ETH, with a market dominance of 8.4%, received around 17% of the tweets, while the XRP dominated 8% of the tweets and 3.5% of the tweets.

Cryptocurrency Twitter mentioned and number of users

Twitter mentions cryptocurrencies and the number of users. Source: TheTIE

Bitcoin’s stance on Twitter has increased since the fall in Marchand on the contrary, the mention of old coins has reached the lowest levels in recent years.

Hard forks lose twice

When comparing Bitcoin’s hard forks, the picture is even harder. Bitcoin Cash (BCH) dominates the market at around 1.7% and on May 26 at around 2.4% of the tweets.

Bitcoin SV (BSV) only showed 110 tweets, or 0.2% of the total, and its market dominance is 1.4%.

As Cointelegraph reported BCH is currently trading near record lows versus BTC. Bitcoin also tops the hash rate. At press time, the BTC, BCH, and BSV hash rates are approximately 80, 3.9, and 1.7 trillion hashes per second, respectively.

Bitcoin’s Twitter community often makes headlines Without much effort. In May alone, the halving witnessed increased activity, along with a bizarre incident involving Harry Potter author J.K. Rowling.

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