StockTwits is the largest social network focused on stock prices, cryptocurrencies, and market sentiment. It can serve as an indicator about the most popular investments among its users.
Users of the platform can register their interest in a particular asset by ‘watching it’. As in other social networking platforms, this ensures that content related to the stock or cryptocurrency viewed appears in that user’s feed.
There are some limitations when trying to elicit investor sentiment from the number of StockTwits watchers. For example, users must manually “unwatch” it to highlight that their interest has waned. Of course, not many users will bother to do this. This shows some of the seemingly abnormal results in the top ten listed below.
However, the comparisons between the previous top ten produced by StockTwits themselves, and today are to some extent telling. From this comparison, we can conclude that investor interest in the space is booming and that the blockchain’s native digital assets are more popular on tokens issued on a platform like Ethereum or EOS than they were two years ago.
Top Ten Most Viewed Cryptocurrencies on StockTwits
- Bitcoin (BTC.X) 138,224 Monitors
- Ethereum (ETH.X) 66749 Monitor
- Ripple (XRP.X) 59367 Monitor
- Litecoin (LTC.X) 57460 monitors
- Tronix (TRX.X) 29,263 viewers
- Bitcoin Cash (BCH.X) 18,422 Monitors
- Stellar Lumens XLM.X 17,642 monitors
- Cardano (ADA.X) 14,939 viewers
- IOTA (IOT.X) 12,656 Views
- NEO (NEO.X) 11,913 monitors
As you can see, the most popular cryptocurrencies according to the platform are not necessarily the ones that perform the best in the market. The top three places should come as no surprise to anyone with a little knowledge of cryptocurrencies. Bankers’ favorite crypto asset, XRP, ranks third; The original smart contract platform, Ethereum, is number two; And Bitcoin, the digital currency that started it all, is on top.
However, there are some notable differences between the current top ten in terms of market capitalization and the number of people viewing it on StockTwits. One such difference is the fact that Tron (TRX) appears very high in the lists. We believe this is thanks to the project’s active community, as well as the high profile media attention it has brought in by its founder, Justin Sun, particularly regarding his now-deferred lunch date with billionaire investor and crypto skeptic Warren Buffett.
The other additions in the current top ten don’t have such active communities or headline-grabbing individuals associated with them but it seems to still get a lot of attention despite the projects since it’s overtaken by market cap.
We were surprised to see that IOTA and NEO, for example, are still on the list. This may be because these projects generated a lot of hype at one point but have been relatively quiet ever since. Since “not watching” is a manual user-initiated process, many of these followers may have completely lost interest in these projects as their market capitalization dwindles compared to the stronger performing digital assets.
in the event
An earlier version of the top ten, published in September 2017 by StockTwits itself, featured a different set of assets as the most popular. At the time, many digital tokens issued on other blockchains made it into the top ten. The likes of Golem (GNT), OmiseGo (OMG), and Civic (CVC) have since failed to sustain the early interest surrounding them.
Another interesting point about the previous StockTwits listings shows how much interest in cryptocurrencies has increased in the nearly two years since the original listing was published. In September 2017, when the true bull market frenzy was about to unfold, the then top three digital assets (Bitcoin, Ethereum, and Litecoin) were just shy of 40,000 subscriber observers. Today, Bitcoin alone has nearly 3.5 times that number. Although some of these accounts may have started following cryptocurrencies during the epic price hike at the end of 2017, and since it completely lost interest, the huge increase in observers should not be ignored and it clearly shows a growing interest in the industry among investors who use the platform.
You may not be aware but BeInCrypto has its own StockTwits account. If you are a user of the platform, follow us to get the latest trends and market insights from the BeInCrypto team.
All information on our website is published in good faith and for general information purposes only. Any action the reader takes regarding the information on our website is at his or her own risk.