The term finished ahead of ‘gaming’ and ‘sports’ as the most viewed topic of 2021 on the social media platform, which counts more than 430 million active users across 100,000 communities.
“In 2021, there were a lot of conversations on Reddit, but none more prominent than cryptocurrency,” the firm said in its annual Reddit Recap, which pulled data from 1 January to 9 November, 2021.
“For more than 10 years, Reddit has been home to over 500 cryptocurrency communities. As more redditors participate in conversation, whether it be for information, help, or to share major successes, Reddit continues to be the hub for cryptocurrency enthusiasts.”
In the 10 months evaluated in the recap, there were 6.6 million mentions of ‘crypto’ across the platform. The most viewed crypto community was r/dogecoin, partly due to the astonishing price rise of the meme-inspired cryptocurrency.
Dogecoin is currently worth around $0.17, having been valued at less than one tenth of a cent in January 2021. Endorsements from the likes of Tesla CEO Elon Musk helped push it briefly above $0.70 in May, realising gains of more than 15,000 per cent in the space of just five months.
The overall crypto market has risen from below $800 billion to more than $2.3 trillion since the start of the year, with most of this value derived from cryptocurrencies with larger market caps like Ethereum and bitcoin.
The price increase of bitcoin in 2021 has been less remarkable than that of dogecoin’s, however it has still managed to add more than half a trillion dollars to its overall value.
The world’s most valuable cryptocurrency is currently trading at around $50,000 per coin, having dipped from a record high of close to $69,000 last month.
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