CoinGecko Survey: X, TG, and YouTube are the most favored by crypto users, with 70% of players getting information from social media
More than half of the community members prefer to obtain information from the same social media where they spend the most time, rather than turning to other sources.Author: Lim Yu Qian,CoinGecko
Compiled by: Shenchao TechFlow
What are the most commonly used social media platforms in the cryptocurrency space?
The main social media platforms for cryptocurrency are X (formerly Twitter), Telegram , and YouTube, which together accounted for 84.0% of the responses from the crypto community in a survey. Additionally, 15.0% primarily use Discord, Reddit, or other social media platforms, while the remaining 1.0% indicated they do not belong to any crypto social media.
Although X is clearly the most popular crypto social media, only 41.7% (less than half) of the crypto community considers it their primary social platform. This suggests that while crypto Twitter is well-known and CT content and discussions are often cited or referenced to reflect industry trends, X is not the only online space where the crypto community primarily gathers.
Following closely are Telegram and YouTube, which have similar popularity among the surveyed crypto community. 21.5% of respondents indicated they spend most of their time on crypto Telegram, followed by 20.8% who primarily spend time on crypto YouTube.
Crypto Discord is the primary social media platform for 6.8% of participants, slightly higher than the 4.5% who mainly use crypto Reddit. This may be because Discord and Reddit are more often viewed as supplementary social media platforms for the crypto community.
Meanwhile, only 1.3% of participants primarily use Farcaster. This decentralized social media initially generated a lot of buzz and continues to receive attention, but it remains unclear whether Farcaster can solidify its position among crypto social media platforms.
Finally, 2.4% of participants indicated they primarily use other social media not listed in the provided options. For example, some mentioned 4chan, WhatsApp, and TikTok. Some less common responses included DeBank, Odysee, and GitHub.
Where do people get their crypto news?
Most members of the crypto community find that their news and information primarily come from social media platforms rather than news websites. A total of 73.8% of respondents get most of their crypto-related information from X, YouTube, or Telegram, while only 6.5% consider news websites their main source.
The most popular source for crypto information and news is X, relied upon by 34.4% of participants. Among 1,065 participants using crypto Twitter, 710 (66.7%) also consider it their primary source of information.
Crypto YouTube ranks second with a market share of 23.4%, surpassing crypto Telegram. Among 531 participants who use crypto YouTube as their main social media, 365 (68.7%) also obtain information from this video-sharing platform.
Another 16.0% indicated that most of their crypto information comes from Telegram, making this messaging platform more than twice as popular as news websites. Among 548 participants who primarily use Telegram, 312 (56.9%) also mainly get information from this platform, which is slightly lower than consumption behaviors on crypto Twitter and YouTube.
Overall, more than half of the community members tend to obtain information from the same social media where they spend the most time, rather than turning to other sources.
Less popular sources for crypto information include Discord (5.3%), newsletters (3.8%), Reddit (3.3%), podcasts (1.6%), and Farcaster (0.8%). Finally, 4.6% mentioned other major sources of crypto information, such as data analysis websites, personal relationships, 4chan, and research providers. Notably, many participants emphasized the use of multiple information sources rather than relying on a specific one.
Methodology
This study analyzed feedback from 2,558 crypto participants who anonymously took part in the CoinGecko post-halving sentiment survey conducted from June 25 to July 8, 2024. The survey results are for reference only.
Among the participants, 69% identified themselves as primarily long-term asset investors, 18% as short-term asset traders, 7% as builders, and 6% as spectators. In terms of experience in the crypto space, 46% are in their first cycle (0 to 3 years in crypto), 41% are in their second cycle (4 to 7 years), and the remaining participants have 8 years or more of experience. Geographically, 90% of participants reported being located in Europe, Asia, North America, and Africa, while the rest are in Oceania or South America.
This study is for illustrative and informational purposes only and does not constitute financial advice. Please conduct your own research and exercise caution before investing in any cryptocurrency or financial asset.
