Cryptocurrency is defined as a digital payment system which does not rely on any of the banks to validate transactions. The Reddit is a special social news accumulation, web content ranking, and discussion website in USA. On Reddit, the user’s first register on the website providing basic details and then the registered members upload the contents such as links, texts, images, videos, etc. on the website. The other members then like or dislike the uploaded content. As per Reddit 2022, post mentions people used the keyword “crypto currency” almost 7 million times and Reddit cryptocurrency became the most popular among the conversations, topics and posts on the news platform over the last year. For the past 10 years, there are almost 500+ Reddit cryptocurrency communities.
A survey in the month of April 2022, one of the Research center confirms that 25% of U.S. 18+ aged males use Reddit, in comparison to 13% of 18+ aged women. In the interim, 38% of respondents between the ages of 18 to 29 said that they have visited the site. Those numbers line up with another research survey released in November 2022 that reported 45% of male ages 18 to 30 have used some form of cryptocurrency, in comparison to just 17% of the general American public. The more redditors (reddit users) currently contributing in conversations, providing information or help to other users, share their major successes and so Reddit has become a good hub for cryptocurrency specialists and enthusiasts. The most conversations that are noticeable, had higher views, updates, posts and videos likes in 2022 are on Reddit cryptocurrency.
The most viewed Reddit cryptocurrency
The Indian Express has analyzed the Reddit data and found that Dogecoin, Superstonk, Cryptocurrency, Amcstock, and Bitcoin were the top-five most-viewed Reddit cryptocurrency communities in 2022. The most viewed Reddit cryptocurrency community is dogecoin due to the amazing price rise of the meme-inspired cryptocurrency. The main cryptocurrencies such as Bitcoin and Ethereum continued to drop in 2022 year.
The Dogecoin cryptocurrency had overall price increase of much more value than that of Bitcoin, but Bitcoin still managed to add its overall value by more than half a trillion.
Who Is Elon Musk
Elon Musk, an entrepreneur, Billionaire, Tesla and SpaceX CEO, is well-known for his cryptocurrency endorsements. He closely analyzes the cryptocurrency and tweets his observations regularly. As per Elon Musk cryptocurrency Dogecoin is the best cryptocurrency for transactions in comparison to Bitcoin. As mentioned in the Times magazine interview by Elon Musk cryptocurrency Bitcoin transaction value is low and the cost per transaction is high. According to Elon Musk cryptocurrency Bitcoin has a good store value; however, it is not a good substitute for other daily transactional currencies. Based on information by Elon Musk cryptocurrency Dogecoin has a greater potential for total transactions that one can do per day with Dogecoin as compared to Bitcoin.
Overall, the global crypto market cap registered a decrease of about 1-2 % in the last month, while total crypto market volume was up by 2-3 %. Hence, Reddit cryptocurrency subjugated in the year 2022 and became the most-discussed topic in the forums in last year.