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Twitter mention statistics reflects BTC dominance



The number of Bitcoin (BTC) listings on Twitter almost exactly mimics the market capitalization



27.May.20 9:16 AM
By Abigail Richards
Photo toinnov.com

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Twitter mention statistics reflects BTC dominance
The number of Bitcoin (BTC) listings on Twitter almost exactly mimics the market capitalization. Cointelegraph reports this on May 26 based on data from The Tie.

According to this data, there were 26,779 mentions of Bitcoin on Twitter on May 25. Altcoins, which in this case are Ethereum (ETH), XRP (XRP), Litecoin (LTC), EOS (EOS) and Chainlink (LINK), totaled around 13,000.

In total, there are about 39,000 entries of cryptocurrencies on Twitter on May 25. So, of these, 68% were about Bitcoin. Currently, Bitcoin holds 65.6% of the total market capitalization, according to data from CoinMarketCap.

Ethereum comes in at 17% of the total number of listings and has a market capitalization of 8.4%. XRP comes in at 8% and has a market capitalization of 3.5%. So it does not exactly match, but still comes strikingly close.

Market capitalization is the total value of the entire crypto market. The number of Bitcoin listings has continued to increase lately, while the number of listings for certain altcoins has never been so low.

Twitter is a popular medium for the crypto community. Last week, The Tie reported that the Bitcoin hype on Twitter has not been as high in three years. The recent halving in particular has provided a strong boost. Also the fact that famous figures like Elon Musk from Tesla and SpaceX and J.K. Harry Potter's Rowling recently tweeted about Bitcoin helped with this.

It is also known that Twitter CEO Jack Dorsey is a fan of Bitcoin. He recently referred to Bitcoin's whitepaper as "poetry" and added a Bitcoin emoticon to the social media platform earlier this year.

In addition, well-known figures such as Changpeng Zhao, CEO of Binance, and Justin Sun, CEO of TRON (TRX), are very active on Twitter. Sun recently asked the community which they think is better: Ethereum 2.0 or TRON 4.0? That then took a strange turn.



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