Twitter Bitcoin Mentions Now Exactly Mimic Market Cap
Tweets including Bitcoin are far ahead of altcoins, but there are major similarities between Twitter and market cap rankings.
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. For May 26, Bitcoin tweets numbered 26,778. Tweets including six others — Ether, XRP, Litecoin, Tezos, EOS and Chainlink — 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%.
