Social media platforms are always flooded with investors discussing cryptocurrencies, typical Twitter. Becoming a trend on social media is one of the key factors that show the potential of a crypto project.
The crypto market started 2023 on a good note after a gloomy 2022 as Bitcoin price dipped below $16,000. Struggling for the first 4 months of the year, BTC price has now climbed above the $30,000 mark this week, bringing confidence to the crypto market. Investors are now more active as the market shows positive signs and also actively discuss their favorite projects on social platforms to look for investment opportunities.
According to analysis from ICO Analytics, Ethereum, Arbitrum, Solana, USDT and Bitcoin are the 5 most discussed cryptocurrencies on Twitter. Among 22,500 cryptocurrencies available on the market, Ethereum is holding the first place with 12.9%. This largest altcoin is the most discussed cryptocurrency in the market among investors as it steadily rose from $1,500 to $1,900.
Arbitrum (ARB) takes second place with 11.5% of all tweets related to crypto. Its airdrops and price increase have attracted the interest of many investors.
Solana took third place with 8.7% as it rallied nearly 20% after suffering a price drop last year due to the collapse of the FTX exchange. USDT takes fourth place with 7.2% while crypto king Bitcoin comes in fifth place with 7%.
In addition, Shiba Inu comes in at sixth place with only 4.2% of the total mentions on Twitter. Its drop in price was what led to its hype fizzling out last month.