Bitcoin is the king of the crypto “Twitterverse”
Bitcoin

Bitcoin is the king of the crypto “Twitterverse”

By Marco Cavicchioli - 26 Apr 2019

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According to the DataLight Hype index, the “Twitterverse” of the crypto sector is dominated by Bitcoin. Twitterverse is the universe made up of users of the famous Twitter social network. As such, we can say that, on Twitter, Bitcoin is the king of the crypto sector.

The index focuses on the sentiment expressed on social media, and in particular on Twitter because it collects data on the mentions of the various crypto assets to measure their current popularity based on what is mentioned on the various social channels and what is the sentiment expressed.

Focusing on the top 15 cryptocurrencies per market capitalisation, we see a correlation between the DataLight Hype Index on Twitter and the market capitalisation itself.

In fact, the first three crypto assets in terms of Twitter Hype Index are Bitcoin (BTC), Ethereum (ETH) and XRP, and Bitcoin’s dominant position would be due to the reputation gained outside the crypto industry.

The first surprise, however, is Tron, who has managed to reach a level of popularity on Twitter that far exceeds its position by market capitalisation, not to mention in a very short time.

Paradoxically, it may have been the confrontation with rival Ethereum that favoured Tron in this ranking, given the direct involvement of the two founders Vitalik Buterin and Justin Sun in this sort of public clash.

Binance Coin (BNB) is also attracting a lot of interest, especially recently. And, in this case too, the direct involvement on Twitter of the founder Changpeng Zhao seems to be playing an important role in the success of this cryptocurrency on Twitter.

Other cryptocurrencies that perform well on Twitter are Monero (XMR), NEM (XEM) and IOTA (MIOTA), far beyond what could be expected by looking only at their position in the market capitalisation ranking. The reason for this interest could be the particular enthusiasm of the crypto sector for the most distinctive ideas, in addition to the fact that these are three long-standing cryptocurrencies (especially Monero and NEM).

Conversely, two very popular altcoins, EOS and Bitcoin Cash (BCH), don’t seem to have much success on Twitter, but this could be partly due to the fact that these are more recent cryptocurrencies.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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