Twitter released a report last week on its biggest trends over the past two years, and finance—including cryptocurrency—is number one on the list.
A rep for the social media company shared that finance is its “fastest growing conversation topic” on its site right now, and, according to the report, cryptocurrency is at the top of the finance category.
Financial tweets are up 78% year-over-year among average users, meaning it’s gained serious traction among non-professionals that don’t work in the industry.
“We’re witnessing an upswell of passionate crypto-enthusiasts with people on Twitter 3.2x more likely to consider investing in crypto than those not on Twitter,” wrote Twitter’s Director of Financial Services Jeff Melei in a blog post.
Conversations about NFTs, unique tokens that can signify ownership over digital assets, have also exploded on Twitter, seeing a 242% increase, according to the report. Decentralized exchanges, dapps, and stablecoins are other popular cryptocurrency topics that have seen similar percentage growth on Twitter recently.
When it comes to social tokens, tweets about “fan tokens” have seen a 994% increase year-over-year.
Twitter classified Bitcoin ATMs, NFT stocks (stocks in companies that invest in NFTs), Zcash, and the Cypherpunk movement—whose adherents have advocated for digital privacy since the early 1990s—as “emerging topics” on its site. And Twitter speculated that “emerging talk of entry-level products may make the average person comfortable investing.”
In its report, Twitter took an unsurprisingly bullish stance on cryptocurrency and NFTs as a whole, considering its founder and former CEO Jack Dorsey’s passion for Bitcoin and Twitter’s launch of Bitcoin Lightning Network tipping feature and NFT profile pictures integration.
Twitter said cryptocurrency “could help the unbanked,” meaning that crypto could be a digital financial alternative for those without the ability to open or access a traditional bank account. The social media platform also offered advice to anyone looking to release NFTs: “Don’t blindly jump on the NFT bandwagon—create something that’s meaningful to your community.”
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