RATE Group | Twitter Bitcoin Mentions Now Almost Exactly Mimic Market Cap Dominance
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Twitter Bitcoin Mentions Now Almost Exactly Mimic Market Cap Dominance

30 May Twitter Bitcoin Mentions Now Almost Exactly Mimic Market Cap Dominance

Posted at 05:06h in Bitcoin News by

Bitcoin (BTC) the most mentions on Twitter may seem logical — but the reason behind it may be more calculated than many imagined.

According to the latest data, Bitcoin’s popularity on Twitter by the number of tweets is not only the highest of all the cryptocurrencies — it is proportional to market cap.

BTC clings to 65% dominance

For May 26, Bitcoin tweets numbered 26,778. Tweets including six others — Ether (ETH), XRP, Litecoin (LTC), Tezos (XTZ), EOS (EOS) and Chainlink (LINK) — came to roughly another 13,000.

Out of a total of around 39,000 tweets, Bitcoin’s share is therefore around 68%. Meanwhile, data from CoinMarketCap shows that at press time, Bitcoin’s market cap dominance is 65.7%.

Market cap refers to the implied value of all the units of a cryptocurrency that have been created. Bitcoin has not always held the lion’s share — in January 2018, for example, its “dominance” was something of a misnomer at just 32%.

Now, however, the resemblance between…

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