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Pavlo Gonchar/SOPA Pictures/Shutterstock / Pavlo Gonchar/SOPA Pictures/Shutterstock
Social media platform Reddit, which was on a roll in 2021, lately launched a year-end “Reddit Recap.” The recap covers some surprises in regards to the platform, together with the truth that redditors expressed extra investment curiosity in Dogecoin than in Bitcoin.
See: Reddit Confidentially Files for IPO – Could it Become a Meme Stock?
Discover: Tesla Memes are Raging on Reddit’s WallStreetBets After the Stock Dropped 5% Monday
Reddit was on the heart of this yr’s meme inventory volatility saga — partially on account of very energetic and opinionated retail merchants on r/WallStreetBets subreddit — and likewise, in December, introduced it had confidentially submitted paperwork to the Securities and Change Fee (SEC) for an Preliminary Public Providing (IPO).
“This previous yr, Reddit turned the place the place individuals felt empowered and impressed to share their opinions, experiences, and tales and join with each other to take motion and positively influence their communities,” Reddit mentioned in a weblog submit.
It comes as no shock that breaking down essentially the most seen subjects of 2021, crypto is the primary theme, previous gaming.
“In 2021, there have been plenty of conversations on Reddit, however none extra distinguished than cryptocurrency. For greater than 10 years, Reddit has been house to over 500 cryptocurrency communities. As extra redditors take part in dialog, whether or not or not it’s for data, assist, or to share main successes, Reddit continues to be the hub for cryptocurrency lovers,” the recap learn.
Notably, Dogecoin garnered extra curiosity than Bitcoin on Reddit in 2021: the top-five most-viewed crypto communities in 2021 had been r/dogecoin, r/superstonk, r/cryptocurrency, r/amcstock, and r/bitcoin.
As well as, the weblog submit notes that r/superstonk’s subscriber development elevated essentially the most amongst Reddit’s crypto communities, with a 917K% improve year-over-year. There had been 6.6 million mentions of “crypto” throughout the platform in 2021, as of the posting of the recap.
The Most Fashionable Posts on Reddit
When it comes to most-upvoted posts amongst crypto communities, Dogecoin takes the No. 1 spot once more, with a submit titled “Who’s nonetheless holding $DOGE?” having 80,300 upvotes.
Associated: Bitcoin Returns Reach Over 70% in 2021, Outperform Gold and Stock Market for Third Straight Year
This was adopted by posts titled “All of the affirmation bias I want, proper right here in a single tweet,” from r/superstonk and “You hear concerning the child who put in $500 right into a memecoin and made 100k, however you don’t hear concerning the a whole lot who put $1000 and are left with $0.1,” from r/cryptocurrency.
Different subjects of curiosity included AMC and Tesla, with the posts “AMC YOU IN JAIL, CHEATERS,” and “Tesla buys $1.5b in Bitcoin and is seeking to settle for the crypto as a type of cost within the close to future,” rounding up the record of hottest threads.
Reddit Expands, Opens New Places of work
Along with the deliberate IPO, Reddit mentioned it continued its world enlargement by asserting new workplaces in Canada, Australia, and Germany, reaching new redditors across the globe.
“The variety of shares to be supplied and the worth vary for the proposed providing haven’t but been decided. The preliminary public providing is predicted to happen after the SEC completes its assessment course of, topic to market and different circumstances,” Reddit mentioned. “We’re in a quiet interval, and for regulatory causes, we can not say something additional.”
Additional: Dogecoin, Stimulus Check and More of the Most-Searched Financial Terms of 2021 on Google
Peter Cohan, a senior lecturer at Babson Faculty and writer of “Goliath Strikes Again,” informed GOBankingRates on the time that since it’s a confidential submitting, it’s onerous to know whether or not the corporate is rising quick or earning profits.
“On the identical time, I might see it turning into a meme inventory because it hosts WallStreetBets which is the last word meme incubator,” Cohan added.
Reddit Makes Headlines, Produces Advertisements
Reddit additionally famous in its 2021 recap that it aired its “first-ever, 5-second Tremendous Bowl advert (or as we name it, Very good Owl). We shipped new options — Reddit Discuss, Predictions, and CryptoSnoos — that gave redditors extra methods to attach and interact with one another.”
Be taught: Valkyrie Launches Balance Sheet Opportunities ETF With Exposure to Bitcoin, Targets ‘Rising Demand for Crypto Investing in an Easy Way’
Discover: Yahoo Expert Predicts 2022 Will Be an Even Bigger Year for Crypto
Reddit made headlines earlier this yr as retail merchants on r/WallStreetBets, who had been intent on taking down hedge fund short-sellers by shopping for shares of closely shorted shares, despatched mentioned shares — together with GameStop, AMC Leisure and Mattress Tub & Past — hovering… after which crashing. In flip, the market volatility introduced the eye, and generally ire, of regulators.
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