Reddit and cryptocurrencies are intertwined with each other in one way or the other. Whether you believe it or not, the Redditors created the massive Dogecoin movement in 2021 and made the digital token price go crazy. After a Reddit board discussed making DOGE the cryptocurrency equivalent to GameStop, its price skyrocketed by 800%. Although Dogecoin was created in 2013, it maintained a low-key till 2020 and went viral by then. However, this Reddit movement came like a rocket that took the digital token to the moon. Reddit hosts more than 430 million monthly active users in over 100,000 communities. These people discuss everything in a broad light. One thing that caught Reddit users' attention recent is cryptocurrencies. Cryptocurrencies were the most popular theme in a record-breaking year for Reddit in 2021. Digital tokens including Bitcoin, Ethereum, Tether, Shiba Inu, Dogecoin, etc are discussed on the platform. If a community starts a movement, then it drives the price crazy. Therefore, cryptocurrencies on Reddit have evolved to be a common thing recently. In this article, we have listed the top 10 cryptocurrencies that Redditors are crazy about in January 2022.
Over the past few years, Binance Coin has emerged as a major replacement to Bitcoin and Etheruem. It is the native cryptocurrency of the largest crypto exchange, Binance. It does not just compete with BTC and ETH on Reddit rather it also stands as the third-largest cryptocurrency by market capitalization.
Since its inception in 2014, Stellar has made steady progress. Initially, it was directed to impress people who were tired of the banking system. It eventually grew to help fintech platforms connect with one another through the trailblazing blockchain technology. During the process, the platform uses Stellar coin.
Helium network that promotes the cryptocurrency is an open-source, public blockchain that is developed to incentivize the creation of a physical and decentralized wireless network. While operating the LoRaWAN hotspots, users will be incentivized on Helium token. They are paid with Helium Network Tokens (HNT).
Solana has emerged as the topmost 'Ethereum Killer' in the market. Its amazing transaction speed and lower costs put it straight across ETH. Besides, Solana is powered with other features like Decentralized applications, NFTs, smart contracts, etc, that keep it at the edge all the time. These factors denote why Redditors are always crazy about Solana.
For those who want to operate the decentralized network to the fullest, Flux is the best option. By offering extraordinary support for applications and projects such as cloud infrastructure, users can explore and build a new version of the internet. Similar to software-as-a-service, Flux provides an amazing and competitive blockchain-as-a-service.
Algorland platform promotes a cryptocurrency called 'Algo'. With proof of stake mechanism, the token supports smart contracts at its heart. Algo was founded by Silvio Micali, a professor at MIT. According to experts, the cryptocurrency has the potential to double or even triple this year.
Polkadot is a cryptocurrency that is well-known for its low fees and higher speed built. It is also popular among Redditors for the same reason. Users also discuss the expandability features in the Polkadot network on Reddit.
Ethereum was the first altcoin that came out of the cryptocurrency sphere. It is also the second-largest cryptocurrency after Bitcoin. ETH has outperformed Bitcoin in 2021 on the growth percentage. Further, Ethereum 2.0, which is expected to go live in 2022 will address all the underlying challenges of the cryptocurrency. This will give an edge to ETH as a major investment model.
The list will be incomplete without adding a memecoin. Yes! Generally, these joke- or meme-based coins are driven by social media influence. Similarly, Shiba Inu has also occupied a remarkable place among Redditers. Created in 2020 after the success of Dogecoin, Shiba Inu managed to enter the top 10 list briefly in 2021. It even outperformed DOGE for a while.
Monero is well-known for its privacy-first features in relation swift other tokens in the market. Launched in 2014, Monero encrypts users' information by making senders and receivers anonymous by hiding transaction details and changing the digital addresses.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.