According to data analytics company IntoTheBlock, Twitter has been buzzing with discussions on Bitcoin and Ethereum, the two biggest cryptocurrencies by market value.
Despite these digital assets’ underwhelming performance over the last week, the increase in talks may be a sign of growing interest in them.
According to CoinGecko statistics, Bitcoin is presently trading at $26,780, having lost 4% over the last seven days. With a 1.6% less severe decline, Ethereum is now trading at $1,870.
It’s interesting to note that recent patterns in the worldwide interest in cryptocurrencies contrast sharply with this surge in social media discourse.
According to U.Today, interest in cryptocurrency has drastically subsided. According to Google Trends data, public interest in cryptocurrencies has significantly decreased to levels last seen in December 2020. This represents a major decline in public interest in the crypto space.
perhaps while search interest is declining, the rise in Twitter conversations may indicate that interest is still there or perhaps growing within a certain demographic of internet users. It is important to note that Twitter has frequently been the preferred forum for both crypto fans and specialists due to its distinctive brevity and real-time information.
However, based on this social media indicator, it is still too early to announce a clear resurgence in the general public’s interest in cryptocurrencies. It would be absurd to believe that Twitter conversation could foretell a recovery of the ailing crypto market.
