Study Reveals Top 20 Cryptocurrencies and Web3 Projects Trending on Twitter

Streamr, a data-sharing platform for web3, has recently analyzed millions of tweets using Twitter’s API to determine which cryptocurrency generated the most buzz during the seven days between March 10 and March 16, 2023.

The results of the study revealed that Bitcoin was the most-tweeted-about cryptocurrency project, with 1,650,951 tweets featuring the hashtag #Bitcoin. The first decentralized digital currency currently holds the top spot in terms of market capitalization among all cryptocurrencies.

Binance’s BNB emerged as the second most talked-about cryptocurrency project on Twitter, with #BNB appearing in 638,662 tweets during the period. BNB was initially introduced via an ICO in 2017 to enhance the functionality of the Binance exchange and its ecosystem. With its market capitalization, BNB stands as the fourth-largest cryptocurrency project. 

Ethereum (ETH) secured the third position, with 426,769 tweets mentioning #Ethereum. The cryptocurrency is second only to Bitcoin in terms of market capitalization. The fourth most popular cryptocurrency project on Twitter was Solana (SOL), with 242,117 tweets featuring #Solana. However, Solana has been in trouble for the past months. Recent data shows that the Solana network’s daily active users decreased by 11.7% in the past three months, indicating a decline in network activity. This drop also resulted in decreased revenue for Solana during the same period.

GameFi ranked fifth with 229,179 tweets over seven days. The term GameFi refers to decentralized finance protocols that incorporate gamification. Examples include metaverse projects, such as Decentraland, The Sandbox, and Axie Infinity. The GameFi sector is expanding rapidly, and the combined value of the primary blockchain game markets has now exceeded $14 billion. 

Polygon (MATIC) ranked sixth with 142,072 tweets featuring the hashtag #Polygon. It’s ranked eighth by market capitalization. Ripple (XRP) ranked seventh with 141,393 #XRP tweets. Another popular crypto project, Cardano (ADA), ranked eighth with 120,050 tweets.

Aptos, a proof-of-stake Layer 1 network, ranked ninth with 117,891 tweets using #Aptos over seven days. It was founded by developers who previously worked on Diem, Meta’s abandoned blockchain project.

RichQUACK (QUACK), a hyper deflationary meme token on the Binance Smart Chain, ranked tenth with 94,688 tweets featuring #RichQUACK. Despite a recent decrease in price, RichQuack and its $QUACK token remain popular on social media, with the token trending on Twitter without any significant industry moves. According to the social intelligence platform Lunarcrush, RichQuack is one of the most influential memecoins in the industry, with increased social mentions, engagements, and dominance despite a price dip in the past month.

The list of cryptocurrencies and blockchain projects ranked 11 to 20 included notable names like Mina, Tezos, Dogecoin, Uniswap, Saitama, HEX, MultiversX, Avalanche, Optimism, and Cosmos.

While a high number of tweets can indicate significant hype and attention surrounding a cryptocurrency project, this doesn’t necessarily translate to long-term success or potential. There could be speculative activity, hype, or other short-term factors that may not be sustainable. Negative sentiment on social media can also lead to a loss of confidence among investors, potentially causing a sell-off and a resulting price crash.

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