• About Us
  • Privacy Policy
  • Contact Us
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptounfold
No Result
View All Result
Home Altcoin

Data Shows XRP’s Community Is Dissolving Fast: What’s Behind the Trend?

by admin
September 4, 2020
in Altcoin
0
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter


Related Posts

Crypto Corner: The Sports Slice

Solana PoS Blockchain Network Faces Outage For The Seventh Time

As A Part Of CBDC Testing Chinese Residents Receive Digital Yuan

Nepal Issues Warning; Shuts Access To Crypto Gambling And Other Apps


XRP has long had an active and loud community, hence their moniker “the XRP Army.” For some reason, the third-largest cryptocurrency by market capitalization managed to become a crowd-favorite project, with a seemingly endless flow of supporters.

According to new data, however, this is changing, with multiple reports indicating that the Ripple community is shrinking at a rapid clip despite positive fundamental developments.

XRP’s Community Is Shrinking… and Fast

According to “The State of Digital Assets, Q1 2020” — a report outlining the state of the crypto industry penned by multi-asset trading platform eToro and The TIE, a crypto analytics upstart — the XRP Army has begun to shrink at a notable pace.

Over the first quarter of 2020, the two firms observed that the number of Twitter users “discussing” the cryptocurrency fell by 16% while the asset declined by 9.51% during the same time frame.

While there wasn’t an equivalent metric for Bitcoin included in the report, BitInfo indicates that tweets mentioning the word “Bitcoin” actually doubled on average from January 2020 to the end of March 2020, presumably responding to the price crash.

To add to this, data shared by crypto trader Zytek indicated that the number of members in crypto-centric Telegram chatrooms has fallen off dramatically.

His analysis found that from June 2018 to 2020, there have been notable member losses of 25% to 75% in crypto groups from @Decred and @CryptoAlerts to @WhaleClub and @Litecoin. A good portion of these losses took place over the past six months from November 2019 to April 2020.

Ripple/XRP’s channel, in particular, has seen a 63.89% loss in members since June 2018, falling from 64,525 members to 23,299.

Notable Departures

There likely isn’t a single trend that is behind this trend, but there have been a number of prominent XRP proponents that have called it quits, potentially sparking bouts of capitulation.

In October last year, Hodor — a blogger covering the cryptocurrency’s every move that managed to garner 56,000 followers — called it quits, leaving their account and blogs to fade away. The account was largely deemed one of XRP’s biggest driving forces on social media.

Tiffany Hayden — the self-proclaimed “CEO” of XRP — followed suit. On March 9th of this year, Hayden remarked that she has decided to sell all her holdings, despite much of her Twitter following flocking to her page for news and thoughts on the cryptocurrency.

She attributed this sudden decision to the fact that the XRP community was purportedly “attacking her character” after she revealed what she saw as flaws in the cryptocurrency’s underlying network:

“Wherever XRP supporters congregate, they have nothing better to do than talk shit about me, which my parents and children have the pleasure of reading. I’m done. Find somebody else to demonize and spend your life bitching about.”

Furthermore, the cryptocurrency remains over 95% below its all-time high, likely accelerating capitulation as evidenced by social media sentiment about the asset’s performance.

Photo by Sasha Freemind on Unsplash





Source link

Tags: communitydataDissolvingFastshowsTrendwhatsXRPs

Popular

Press Release

Knox Wire Uses Distributed Ledger Technology to Improve Real-Time Gross Settlement Service

by admin
March 26, 2022
0

Blockchain technology has infiltrated every industry in recent years, making them safer and more effective. Now, it has reached the...

Read more

Elimobile Launches the First Tokenized Telco, Partners with Elite Token to Create a Celebrity Powered Ecosystem

May 16, 2022

Lazy 8ight Yacht Club Announces Plans To Expand Its Digital Marine Exploration

May 12, 2022

Users of "Fitcoin", A Mobile Fitness App, Are Rewarded for Staying Fit

May 16, 2022

Crypto payment solution provider Fat Cat Killer is launching its token “Killer” on May 17, 2022

May 17, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • Swiss ETP Issuer 21Shares Dives Into US Market With 2 Crypto Index Funds
  • DigiRack NFT Marketplace Launches On The Cardano Blockchain With Its Pre-Sale Whitelist Campaign
  • First Mover Asia: Pine Wants to Test the Liquidity of the NFT Market; Cryptos Are Well-Red
  • US Appeals Court Orders SEC to Bring Enforcement Actions to Jury Trials
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptounfold.org

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptounfold.org

  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$49,095.002.28%
  • ethereumEthereum(ETH)$3,384.05-0.62%
  • HEXHEX(HEX)$0.1290085.45%
  • cardanoCardano(ADA)$2.18-2.77%
  • tetherTether(USDT)$1.00-0.27%
  • binancecoinBinance Coin(BNB)$425.46-0.83%
  • SolanaSolana(SOL)$166.52-1.81%
  • rippleXRP(XRP)$1.04-1.73%
  • usd-coinUSD Coin(USDC)$1.000.74%