D

espite recent challenges, the cryptocurrency market is expanding, as is social media users' attraction to its assets, particularly English-speaking Twitter users.

Cryptocurrency content is one of the fastest-growing subjects of interest among Twitter's most active English-speaking 'tweeters,' according to internal Twitter (NYSE: TWTR) research, as Reuters' Sheila Dang published on October 26.

According to the study, heavy English-speaking Twitter users' interest in cryptocurrency reached an all-time high (ATH) in late 2021. However, this interest has since dropped following the June crypto rout.

As a result, Twitter's internal study concluded that cryptocurrencies may not be a future growth area for these 'tweeters.'

Elon Musk's tweets are the most popular

Intriguingly, the most popular crypto-related tweets in recent years have been written by Tesla (NASDAQ: TSLA) CEO Elon Musk, who is currently in the process of acquiring Twitter and has recently notified co-investors that he aims to close the deal by October 28.

According to Finbold, his Twitter posts, primarily about Bitcoin (BTC) and meme token Dogecoin (DOGE), were the most frequently shared and had the highest number of engagements over the past two years across all crypto-related posts on the social media platform.

Musk's Twitter acquisition

Despite appearing to abandon the Twitter acquisition, Musk abruptly reversed course in early October, announcing that he would, in fact, proceed with the transaction, which initially resulted in a 22.24% increase in the social media channel's stock.

As a reminder, the billionaire reportedly backed out of the original $44 billion deal in early July because he did believe the number of bots or spam accounts on the platform could not be verified, making it challenging to assess Twitter's potential as a business venture.

Do you think that there will be more surges in crypto-related topics on Twitter? Let us know your thoughts by sharing this article on social media.

Posted 
Oct 26, 2022
 in 
Digital Lifestyle
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