Cryptocurrency traders often turn to Twitter to get insight into the current crypto market. By analyzing the conversations around different coins, traders can get an idea of which coins are popular and which ones may be on the rise.
Analyzing Twitter Conversations
To get an idea of which altcoins are being discussed the most, researchers at Bitquery analyzed Twitter conversations from the past three months. They looked at the number of mentions of the top 100 altcoins on the platform and determined which ones were being talked about the most.
The researchers found that the top five altcoins being discussed on Twitter were Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), and EOS. These five coins accounted for almost 80% of all conversations about altcoins on Twitter.
Ethereum was the clear winner when it came to Twitter conversations. It was mentioned almost twice as much as the second-place coin, Ripple. This is likely due to its popularity as the leading smart contract platform and its growing list of decentralized applications (DApps).
Ripple and Bitcoin Cash
Ripple was the second-most talked about altcoin, likely due to its increasing use as a payment system. Bitcoin Cash was the third-most discussed altcoin, likely due to its status as a fork of Bitcoin and its popularity among traders.
Litecoin and EOS
Litecoin was the fourth most-discussed altcoin, likely due to its low transaction fees and fast transaction times. EOS was the fifth-most discussed altcoin, likely due to its growing use for decentralized applications.
By analyzing Twitter conversations, researchers can get an idea of which altcoins are the most popular. The top five discussed altcoins were Ethereum, Ripple, Bitcoin Cash, Litecoin, and EOS. Each of these coins has its own set of benefits and is popular for different reasons.