Trends
XRP is TikTok’s most recommended crypto according to new study
A recent research conducted by CoinLedger, XRP is the cryptocurrency that users on TikTok are most suggested to new investors.
Headline
A recent research conducted by CoinLedger, XRP is the cryptocurrency that users on TikTok are most suggested to new investors.
Context
CoinLedger , a cryptocurrency tax software, conducted research examining 70 TikTok videos with the hashtag #crypto. XRP Ripple (XRP) is the cryptocurrency that users on TikTok are talking about the most, with over a quarter (28%) of videos suggesting it as a potential investment for 2024. Many people use TikTok’s short videos to quickly consume news, entertainment, and even instructional material while on the go, turning it into a search engine. Novice investors are turning to TikTok for guidance on their next investment choices.
Evidence
Pending intelligence enrichment.
Analysis
Numerous cryptocurrency influencers on TikTok forecast a possible bull run in 2024 and suggest that currency values may surge this year as a result of a possible halving of bitcoin, which has historically had the effect of raising the value of other cryptocurrencies. Also read: As Bitcoin wavers, smaller tokens like XRP, SOL, INJ soar A study was carried out by the cryptocurrency tax software CoinLedger, which examined 70 videos on the well-known social media platform TikTok starting in September 2023 to determine which coin crypto influencers favored. According to the study, XRP Ripple (XRP) was the cryptocurrency that TikTok influencers most frequently suggested to their followers to invest in out of 70 videos, with 20 recommendations (28%).
Key Points
- CoinLedger , a cryptocurrency tax software, conducted research examining 70 TikTok videos with the hashtag #crypto to determine which currencies viewers were most likely to recommend as investments.
- Of the 70 videos examined, 20 investors in TikTok cryptocurrency indicated XRP Ripple (XRP) as a promising business opportunity (28% of uploads) according to CoinLedger.
Actions
Pending intelligence enrichment.
