Twitter is a very powerful tool for staying informed about the events of the moment and is used by people and companies to inform and make announcements about their news. This social network allows us to easily inform ourselves about global and local trends, as well as finding mentions made by others. Being informed at the moment allows users to make timely business decisions, especially in the blockchain industry.
On Twitter, mentions of cryptocurrencies are growing in popularity, although some cryptocurrencies have gained more fame due to their popularity, appearances in the news, implementation, price variation and even announcements about regulations such as, for example, private cryptocurrencies like Monero (XMR), Verge (XVR), Zcash (ZEC), Dash (DASH) and Bitcoin Private (BTCP).
Is there a tool that helps to see specific cryptocurrencies’ mentions?
The answer is yes. There is a web tool called Bitinfocharts which publishes updated graphics for the most popular cryptocurrencies on the social network. With this tool, we can gather statistics about the most outstanding cryptocurrencies in a period of time, when it was most mentioned.
The top 5 cryptocurrency mentions on Twitter between July 2017 and June 2018:
- Bitcoin (BTC): 155.5k at 2017/12/07
- Ethereum (ETH): 51.6k at 2017/10/15
- Dash (DASH): 31.4k at 2017/10/31
- Litecoin (LTC): 31.0k at 2017/12/09
- XRP (XRP): 18.4k at 2018/01/11
The day of highest mention of Bitcoin on Twitter coincides exactly with the same period in which this major cryptocurrency managed to capitalize on its best market prices. On the other hand, the month with the lowest proportion of mentions was in June 2018, reporting a maximum of 29.9 thousand tweets a day.
In some cases, like Ethereum, such mentions may be overvalued as some messages are spam, scams or phishing schemes that seek to steal information or money from cryptocurrency users; a situation that is difficult to calculate.
It is important to mention that Twitter is one of the most used social networks by the cryptocurrency community in conjunction with Reddit. In addition to Bitinfocharts, there are others such as Google Trends, which can measure the popularity of word searches on the web, with the option of analyzing specific areas and certain timeframes.