A recent CoinGecko study highlights that social media platforms X (formerly Twitter), YouTube, and Telegram are the primary sources of news and updates for the crypto community. The study, conducted between June 25 and July 8, shows that these three platforms collectively account for 84% of the information consumed by crypto enthusiasts.
According to the survey, 34% of respondents primarily rely on X for their crypto news, making it the leading platform in the space. YouTube follows closely with 23.4% of participants using it as their main source for updates, while Telegram serves as the primary platform for 16% of respondents.
Despite X being the most popular platform overall, only 41.7% of its users consider it their main social media space for crypto discussions. Telegram and YouTube show similar levels of engagement, with 21.5% and 20.8% of respondents, respectively, spending most of their time on these platforms.
Interestingly, the survey also reveals that other platforms like Discord and Reddit, while less favored as primary sources, still play a significant role in the crypto community. Discord is the main platform for 6.8% of participants, slightly ahead of Reddit at 4.5%. These platforms are often seen as supplementary spaces for deeper crypto discussions and community engagement.
CoinGecko’s survey, which included 2,558 respondents, underscores the trend that crypto investors prefer to get their news from the platforms where they are already active. A significant 70% of participants identified as long-term investors, while 18% were short-term traders, 7% were builders in the space, and 6% were sidelined spectators.
The survey also provided insights into the experience levels of participants: 46% were in their first crypto cycle (0-3 years), 41% were in their second cycle (4-7 years), and the remainder had more than eight years of experience in the market. Geographically, 90% of the respondents were based in Europe, Asia, North America, and Africa, with the rest located in Oceania or South America.
In a related study by Binance Square, early 2024 data showed that high returns, decentralization, and innovation are the key factors driving mainstream crypto adoption in Europe. Additionally, the study revealed that 55% of respondents use cryptocurrency for everyday purchases, with 10% making weekly cryptocurrency payments.
As the crypto industry continues to evolve, social media platforms remain crucial for keeping the community informed, connected, and engaged.
