Pavlo Gonchar/SOPA Photos/Shutterstock / Pavlo Gonchar/SOPA Photos/Shutterstock
Social media platform Reddit, which was on a roll in 2021, just lately launched a year-end “Reddit Recap.” The recap covers some surprises regarding the platform, together with the truth that redditors expressed extra investment curiosity in Dogecoin than in Bitcoin.
Reddit was on the middle of this yr’s meme inventory volatility saga — partly attributable to very lively 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 folks felt empowered and impressed to share their opinions, experiences, and tales and join with each other to take motion and positively affect their communities,” Reddit mentioned in a weblog put up.
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 loads of conversations on Reddit, however none extra outstanding than cryptocurrency. For greater than 10 years, Reddit has been residence 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 fanatics,” the recap learn.
Notably, Dogecoin garnered extra curiosity than Bitcoin on Reddit in 2021: the top-five most-viewed crypto communities in 2021 have been r/dogecoin, r/superstonk, r/cryptocurrency, r/amcstock, and r/bitcoin.
As well as, the weblog put up notes that r/superstonk’s subscriber development elevated essentially the most amongst Reddit’s crypto communities, with a 917K% enhance 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 Widespread Posts on Reddit
By way of most-upvoted posts amongst crypto communities, Dogecoin takes the No. 1 spot once more, with a put up titled “Who’s nonetheless holding $DOGE?” having 80,300 upvotes.
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 lots of 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 trying to settle for the crypto as a type of cost within the close to future,” rounding up the checklist of hottest threads.
Reddit Expands, Opens New Workplaces
Along with the deliberate IPO, Reddit mentioned it continued its world growth by saying new places of work 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 overview course of, topic to market and different circumstances,” Reddit mentioned. “We’re in a quiet interval, and for regulatory causes, we can’t say something additional.”
Peter Cohan, a senior lecturer at Babson Faculty and writer of “Goliath Strikes Again,” instructed GOBankingRates on the time that since it’s a confidential submitting, it’s laborious to know whether or not the corporate is rising quick or earning profits.
“On the similar time, I may see it changing into a meme inventory because it hosts WallStreetBets which is the final 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, Excellent Owl). We shipped new options — Reddit Discuss, Predictions, and CryptoSnoos — that gave redditors extra methods to attach and have interaction with one another.”
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Reddit made headlines earlier this yr as retail merchants on r/WallStreetBets, who have 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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