84% of discussions on Reddit are positive.

In a 2023 crypto sentiment report, it emerged that on Reddit, 84% of discussions about cryptocurrencies are positive. 

In general, it seems that the resilience of cryptocurrencies this year has fascinated many investors, technologists, and decentralized finance enthusiasts. 

Crypto Sentiment 2023: Reddit reveals positive outlook from its members 

The latest report on crypto online sentiment for 2023 by CoinWire and Storible shows a positive overall result. In fact, in the introduction, it is stated that the crypto resilience of this year has fascinated many investors, technologists, and decentralized finance enthusiasts.

In practice, the report analyzed the lively discussions on online forums, the engagements on social media, and the reflections transmitted by the main journalistic outlets regarding cryptocurrencies. 

And indeed, by using the Natural Language Toolkit (NLTK) library in Python, the report calculated cumulative scores for positive, negative, and neutral sentiments in each tweet, post, and article.

In the specific case of Reddit, for example, it has been calculated that 84% of discussions about cryptocurrencies are positive for 2023. The platform’s user members are therefore enthusiastic about crypto and reveal positive prospects. 

As for X (formerly Twitter), the analysis reveals that over 65% of tweets about cryptocurrencies have a positive sentiment. 

Specifically, it is the United Kingdom leading the ranking of countries supporting crypto, with over 72% of positive crypto tweets. On the other hand, Argentina seems to be the last country supporting crypto on Twitter, with 67% of crypto tweets leaning towards the negative. 

Crypto Sentiment 2023: analysis on every coin

Considering, instead, the crypto sentiment 2023 for each coin, it is possible to draw up a ranking based on the percentages of positivity. 

And indeed, the report reveals that the most positive discussions on social media are about Tether (USDT), Solana, and Uniswap, with 88% of positive scores.

Following, then, there is Toncoin with 82% and an equal merit of Ethereum and Shiba Inu with 80% of positive score. Then there is Cardano with 79% and Chainlink and Dogecoin with 77%, here comes the queen of crypto, Bitcoin. 

Bitcoin has positive online discussions for 75%. Obviously, BTC remains a beacon of opportunities in the digital realm for investors and industry enthusiasts. 

If you wanted to see the ranking in reverse, the last one for positivity is Binance Coin (BNB) with 68% of positive online discussions.

To further amplify the negative result, the discussion “Beware of Binance Coin” on Reddit has also contributed, where it is described not as a crypto, but as a temporary stopover for DeFi until the real thing is completely perfected.

MOON: how is Reddit’s crypto going?

Talking about crypto and Reddit, it’s easy to think of MOON, the native crypto of the Social Media, launched in 2020 as an ERC-20 token, initially as part of an incentive program by the same platform. 

The annual price chart of MOON shows a pump of +47% compared to the end of 2022, even though the Reddit coin has seen other price highs in this 2023. 

At the time of writing, MOON is worth $0.12, but during the year, its price reached the annual maximum at $0.50 on August 12th. 

Not only that, in November, MOON marked a significant price fluctuation. While on November 13th, the Reddit crypto was valued at $0.056, the following day, due to unexpected news, it seems that MOON reached $0.44, only to retrace back to around $0.2.

Anyway, MOON’s current market cap now exceeds 13 million dollars, placing the social media crypto in the 849th position in the overall cryptocurrency ranking.