Mining the Crypto Community
By Jackie Davies, Marketing Manager
Part One: As Crypto Moves Mainstream, How Does Your Brand Stack Up?
Once looked at as the wild west of investing, cryptocurrency is now a trillion-dollar ecosystem, with an audience of 80 million (and growing) people having downloaded blockchain wallets. The crypto market has gone from being niche to now bridging into mainstream adoption as investors, brands, and the public as a whole look to take advantage of its massive opportunity.
With its emerging mainstream growth and unbelievable volatility, it is critical for brands, ecommerce platforms, and publishers to understand the changing audience dynamic and how to capitalize on these investors by asking “does my audience have affinity for crypto?”, “who is influencing that part of my audience?”, and “which crypto currencies or platforms should we be exploring partnerships with?”.
Over the coming weeks, Affinio will present a series of crypto- and NFT-related posts that will shed light on this diverse crypto audience, what they care about, what brands they love, and how the group is changing over time.
The adoption of cryptocurrency can be highly attributed to social media, after all, and one of the most popular social platforms for crypto enthusiasts is Twitter. In the last 30 days, over 16 million people have tweeted using the hashtags #crypto or #cryptocurrency. Twitter is where crypto thought leaders like Vitalik Buterin, Anthony Pompliano, and Roger Ver are easily accessible to investors who want insightful commentary, reviews, articles, and other resources.
To better understand this emerging growth market, gain insights into who is influencing them, and unearth this audience’s affinities, we used Affinio Social to examine the followers of the top cryptocurrency Twitter accounts that included @Bitcoin, @ethereum, @binance, @Tether_to, @solana, @Cardano, @Ripple_XRP1, @Terra, @Polkadot, and @dogecoin.
Affinio’s graph technology ingested the 644,418 unique followers across these top cryptocurrencies on Twitter, filtered for people who self-describe as living in the US, and then examined everything else they follow. Our algorithm then automatically segmented these followers into clusters based on the similarities in their interest patterns. This allowed us to conduct a deep-dive into the subcommunities and identify emerging trends on the social graph that can otherwise go unnoticed.
From our analysis, we identified eight unique clusters from the 644,418 followers of the top cryptocurrencies as seen below:
It’s not surprising to see certain clusters show up in this report - like the Ethereum, Bitcoin and Web3 Hype subcommunity – but what is intriguing is to see the more mainstream segments emerging like the Political News Junkies and Football Fans. Below, we took a snapshot of each cluster’s top media and entertainment, shopping, and dining interests, to learn what defines them beyond crypto investing.
In the coming weeks we’ll be conducting further deep-dives to explore which micro-influencers are influencing each cluster, how each of the currencies stack up in each cluster, and which clusters are most engaged.
Want to know where your brand ranks in this audience, or how you can support your brand in growing its crypto audience? Reach out to view this entire insights report, and better understand Crypto Traders through their interests, affinities and the content they consume.
*updated from original on Jan 27, 2022