The presence of major cryptocurrencies on Twitter has declined dramatically since the recent cryptocurrency market crashed. Signals to major cryptocurrencies such as Ethereum, Litecoin and XRP are now close to their two- to three-year downturn, according to Bitinfocharts.
Meanwhile, Bitcoin’s presence on Twitter doubled in the first three months of 2020, although the number of tweets is still far from the all-time high in 2017.
XRP Tweets reached its lowest level in 21 months
Earlier this week, March 21, the number of tweets containing the hashtag #XRP 2542 was down 60% since January 2020, when the number of XRP tweets was between 6,000 and 7,000.
The number of daily XRP tweets decreased to 2,500 in July 2018, approximately 21 months ago.
The highest XRP peak never happened on Twitter during the 2017-2018 bull run, unlike most other coins. Instead, XRP activity peaked on Twitter today, September 21, 2018, when XRP was tweeted 20,000 times, according to Bitinfocharts.
As readers may remember, this date coincides with the first rumors about the launch of xRapid from Ripple Labs, an XRP-based payment solution for financial institutions. Thanks to the long-awaited product launch, the price of XRP has almost tripled in the week to 21 September.
Litecoin is back at its lowest level in two years
When daily Litecoin tweets dropped to 344 earlier this month, it was the lowest Twitter activity on Litecoin’s behalf since March 2017.
That was the month Litecoin started its rally, triggering a bull-run in 2018. From March to May 2017 alone, the price of LTC increased tenfold, from $ 3 to $ 30.
From then on, the coin price and the Twitter post continued to rise. In particular, Litecoins falls back into Twitter frustration along with the decline in the aforementioned $ 30 range.
Litecoin Tweets are currently only 1.3% from a full time of 31,000.
Ethereum is down 95% of the top
Following a similar trend, Ethereum’s presence on Twitter is one of the lowest levels in the last three years. Ethereum currently has around 2,500 tweets, but in the last three years the number of tweets has only dropped to this minimum once, ie in the new year 2020.
Apart from this decline, the last time ETH activity on Twitter fell to this low level in February 2017. It was also the month ETH started a 60-day five-fold rally, which saw the price of coins rise from $ 10 to $ 50.
From a peak of 51,000 tweets in 24 hours in December 2017, the number of Ethereum tweets has decreased by more than 95%.
Bitcoin sees Twitter comeback in 2020
Bitcoin activity on Twitter on March 26 reached 24,722 tweets. This is a significant drop from its peak in December 2017 of 155,000, but unlike most altcoins, Bitcoin saw a rebound in the Twitter trend in 2020.
After recording only 12,000 tweets in January this year, the number of Bitcoin tweets has doubled since then.
Given the reasons, it can be assumed that the smaller fall in Bitcoin’s value compared to most altcoins has something to do with this. After all, sharing cryptocurrency social media tends to follow the price.
However, there may be another reason for the uncertainty surrounding Coronavirus, which has restored the debate over the value of Bitcoin as a safe haven.