Cryptocurrencies have had a tough time in recent days with the Silicon Valley Bank (SVB) collapse, the Silvergate bankruptcy, hints that the Fed will continue to increase interest rates. Also, cryptocurrency markets turned red on Friday after the Biden administration in the US proposed a 30 percent tax on electricity used for Bitcoin mining. Enthusiasm for cryptocurrencies waned in March as markets lost the gains they had made in the past two months. Tweets talking about cryptocurrencies on Twitter are on the rise this month. In this article, we will highlight the top 5 most discussed cryptocurrencies in the world by the investor community. Here are the details…
These cryptocurrencies are the most discussed
Metrics and data firm ICO Analytics released a report on the most discussed cryptocurrencies last month. Among all crypto assets, Ethereum ranked first with 12.9 percent mention on social media. The high volume in shared posts for ETH came at a time when ETH rallied to $1,700 last month, after which the price pulled back. Solana ranks second, having 11 percent of all discussions on social media. Posts are mostly negative as SOL plunged the price below the $19 mark and caught the ire of investors.
Bitcoin was the third most discussed coin among the cryptos mentioned in the posts with 6.3 percent. BTC’s social media presence remained stagnant compared to the previous month, when it was in the same third place at 6.7 percent. Meanwhile, the instability of Circle’s USDC caused extreme fear in the market as stablecoins play a crucial role in the cryptocurrency industry. Bitcoin’s price has been hit by the recent turmoil and has fallen, but is facing a strong support level.
Stablecoin USDT ranks fourth among those mentioned, with 5.8 percent, and its online dominance seems to be increasing recently. The fifth most discussed cryptocurrency in the markets was the Shiba Inu with a rate of 5 percent. Most of the SHIB posts have been related to the launch of the ecosystem’s layer-2 solution, Shibarium.
BONE is also on the list
Surprisingly, SHIB’s ecosystem token BONE was the 20th most discussed cryptocurrency, according to ICO Analytics. cryptocoin.com As we have also reported, the token entered the list of top 100 cryptocurrencies in terms of market capitalization last month. Binance Coin, Blur, Baby Dogecoin, Dogecoin and MATIC continue to be on the top 10 most discussed crypto lists, respectively.
