In the areas of blockchain tech and cryptocurrency, most people usually make general conclusions and assumptions about the same industries. The same goes for a location that is widely used by the same broad community, which is Twitter. This quick and text-based social media is the go-to network for most who are engaged in any shape or form with the digital currency ecosystem or the blockchain technology that enables it. But, the same community is nowhere near monolithic or uniform in their approach or thoughts on the crypto subject. Instead, there are often numerous rifts and arguments, as well as shifting loyalties that reign in the same space.
Recently, a massive Twitter exploration tried to map out the same community and figure out what groups contain the most crypto-oriented Twitter users. That research covered over 600,000 individual accounts and the demographics behind them. So, what are the things these accounts are into, what are their general interests and how do they lean when it comes to their social and political stances? An overview of the same communities attempts to chart these and present them in the context of other important crypto issues in the ever-changing 2022.
The process of research took place for a period of roughly one month. It began at the end of December 2021 and lasted until the end of January 2022. The analysis focused on the present state of crypto Twitter, but also some of the assumptions about the same space, including things like male dominance in discussions, ever-present interest in Elon Musk, and many similar topics. These were never directly explored but are standing for years, taking root in things like gaming and meme communities and then branching out into the rest of the Twitter space.
Furthermore, the research focused on both passive users and those who actively post on the same social media, looking at their behaviors, likes, dislikes, and clusters of audiences that form around particular ideas. Once the targets of the research were defined, the process of analysis included using an algorithm that divided the audience into different groups with some clear characteristics. These basically represented communities that operate on Twitter with a swaying level of engagement and cohesion. All of them are somehow included in the discussion related to crypto topics, including major ones, but also have their own characteristics and unique features.
US Community Basics
The research provided some of the basic demographic factors about the communities of crypto Twitter, especially in the US. Here, the majority of members are those living in the major cities of New York and Los Angeles, as well as many other parts of California. They are mainly in their 30s, distributed between the early and middle part 30s. Two out of three describe themselves as husbands and fathers. The same number represents entrepreneurs, engineers, and a range of business professionals. They gather their news on crypto from platforms like YouTube, but also Reddit, Medium, and OpenSea.
Their key interests besides crypto come in the form of podcasts, finances, esports, and cars. In terms of individual names, CEOs of tech companies are the predominant voices. That includes naturally Elon Musk, but also Bill Gates and Brian Armstrong of Coinbase. All of the communities enjoy discussing new trends in the crypto field like NFTs and the metaverse. When it comes to the choice of apps for trading, Coinbase is the first choice for many. In terms of traditional investment, most of them prefer brands like Netflix, Tesla, Amazon, Apple, Playstation, and Nike. But, besides these general characteristics, there are other unique features that divide these users into communities.
Layer One and Web 3 Cluster
The biggest individual cluster of crypto users is one focused on the so-called Layer One cryptocurrencies. These include bitcoin and ethereum primary. The users in this cluster are mainly male and with a median age of 36. While they might be primarily interested in the established cryptocurrencies that have been around for over a decade, they are also equally focused on Web 3 services.
That makes perfect sense, as many services in the same domain lean on the well-defined systems of these big blockchain networks. They are also readily investing in crypto and follow traditional stockbrokers like Peter Schiff, either to agree with them or to contest their views. They are also interested in the traditional news media and how it covers issues of cryptocurrencies and crypto trading in particular.
Political News Cluster
Similar to the first cluster, there is also a massive group on crypto Twitter that is all about the political news and the development that fuels them. These are slightly younger than the first cluster and tend to work in tech and software almost exclusively. Many of them are owners of tech companies of all sizes, including very small but still viable ventures. The key element that connects all of them though is the interest in the political news and the networks of traditional media companies that follow them.
All of the members of this cluster approach crypto in some shape or form that is tied to daily US politics and political development on a wider scale. They also enjoy a range of daily content that lampoons the topics they follow, like The Daily Show. This points to an approach that is very prevalent on Twitter in general and consists of a sarcastic leaning towards even the things they find interesting.
MAGA and Fox News Cluster
In some way, the cluster of Fox News and MAGA crypto Twitter users might seem like it falls into the Political News cluster. However, its users are a different demographic with different leanings. The median age here is 39 and they are the oldest group in the research. They reside in states like Michigan, Texas, and Pennsylvania.
Many of them are deeply critical of US President Joe Biden and follow a range of conservative pundits like Sean Hannity. They are clearly focused on many traditional right-wing media like Fox News and consider even more fringe outlets worthwhile and accessible. Their crypto leanings are often tied to various notions of libertarianism.
The research Has clearly shown that there is no unified crypto Twitter space. Instead, there is a diverse landscape of different users with different worldviews. However, all of them are both interested in and supportive of cryptocurrencies which still combines all of these clusters into one major group of Twitter users.