CoinGecko
X and YouTube favored by investors for crypto news, study shows
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3 months agoon
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adminA new survey from CoinGecko reveals that X, Telegram, and YouTube are the top platforms where the crypto community gets their news and updates.
Crypto investors tend to favor social media platforms for their news, with X, YouTube, and Telegram leading as their top sources of information. According to a study conducted from June 25 to July 8 by CoinGecko, the three platforms collectively account for 84% of where crypto enthusiasts get their information.
The survey shows that over 34% of respondents rely primarily on X for crypto news, making it the leading platform for information in the space. YouTube follows closely, with 23.4% of participants using it as their main source for updates, while Telegram is used by 16.0% of respondents.
Crypto users tend to get updates from social media
Although X is the most popular platform overall, less than half of its users (41.7%) consider it their primary social media space for crypto discussions. Meanwhile, Telegram and YouTube have seen similar levels of engagement, with 21.5% and 20.8% of participants respectively spending most of their time on these platforms.
“Crypto Discord was the primary social media platform for 6.8% of participants, slightly ahead of the 4.5% who were mainly on crypto Reddit. This might be because Discord and Reddit are more widely considered as supplementary social media platforms for the crypto community.”
CoinGecko
The survey, which included 2,558 respondents, reveals that the crypto community prefers to get their news from the same platforms where they are most active. Nearly 70% of participants identified as long-term investors, while 18% were short-term traders, 7% were builders, and 6% were sidelined spectators.
About 46% of respondents were in their first crypto cycle (zero to three years), 41% were in their second cycle (four to seven years), and the rest had more than eight years of experience. Most participants (90%) were based in Europe, Asia, North America, and Africa, with the remainder located in Oceania or South America, the data shows.
As crypto.news reported earlier, Binance Square’s early 2024 poll identified high returns, decentralization, and innovation as pivotal factors driving mainstream crypto adoption in Europe, with 20%, 18%, and 17% of respondents highlighting these aspects, respectively. The study also stated that 55% of survey participants use cryptocurrency for everyday purchases, and 10% make weekly cryptocurrency payments.
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A seemingly innocuous post by X owner Elon Musk seems to have helped propel the price of the little-known non-playable coin (NPC) by more than 32%.
On July 20, Musk posted a video by popular reporter and influencer Mario Nawfal on his X handle. In the video, Nawfal engages in a discussion about NPC, exploring how it stands out from other meme coins.
NPC analysis
The impact has been immense. Since that post went out, the price of NPC spiked 32.1% at the time of this writing. Its market cap soared to an impressive $195 million in a matter of hours.
The push also meant that NPC gained over several other timeframes. For instance, the current NPC price is a massive 67% improvement across seven days and a 21% increase over two weeks. However, it is still nearly 20% below its all-time high price of $0.03003, recorded on June 23.
Today’s performance also means that NPC is now substantially outperforming the global cryptocurrency market, which is up 11% according to CoinGecko.
Furthermore, it is also doing better than similar cryptocurrencies on the Ethereum network, which have registered an overall improvement of about 12%.
The NPC token is an NFT-meme hybrid inspired by the non-playable character meme. It can be traded as either a non-fungible token or a meme coin, with each NPC token backed by an NFT of the NPC meme.
The coin is available on Ethereum via Uniswap and on Coinbase’s layer-2 network, Base. It has a total supply of 8,050,126,520 NPC tokens, all of which were circulating at launch.
The price uptick was accompanied by a similar jump in the coin’s 24-hour trading volume, which went up 55% to $7,464,829.
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