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Bitcoin and Ethereum Garner Rising Interest on Twitter

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Mon, 5/06/2023 - 15:55
Bitcoin and Ethereum Garner Rising Interest on Twitter
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Twitter has been aflutter with conversations around Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, according to data analytics firm IntoTheBlock.

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The rise in discussions could be indicative of burgeoning interest in these digital assets, despite their lackluster performance over the past week.

Per CoinGecko data, Bitcoin is currently trading at $26,780 after recording a 4% decrease over the last seven days. Ethereum experienced a slightly less drastic drop of 1.6%, trading at $1,870.

Interestingly, this uptick in social media chatter stands in stark contrast to recent trends in the global interest in cryptocurrencies.

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As reported by U.Today, excitement surrounding cryptocurrencies has noticeably cooled off. Google Trends data shows that global interest in cryptocurrency has dipped to levels not seen since December 2020, marking a significant downturn in public engagement with the crypto sphere.

Despite waning search interest, the increased Twitter conversations might hint at sustained or resurgent interest among a specific group of internet users. It is worth noting that Twitter, with its characteristic brevity and real-time updates, has often been the platform of choice for crypto enthusiasts and experts alike.

Nevertheless, it is still too early to declare a definitive rebound in wider public interest in cryptocurrencies based on this social media metric. It would be far-fetched to assume that Twitter chatter might forecast a revival of the struggling crypto market.

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