Pavlo Gonchar/SOPA Photos/Shutterstock / Pavlo Gonchar/SOPA Photos/Shutterstock
Social media platform Reddit, which was on a roll in 2021, lately launched a year-end “Reddit Recap.” The recap covers some surprises in regards to the platform, together with the truth that redditors expressed extra investment curiosity in Dogecoin than in Bitcoin.
Reddit was on the heart of this 12 months’s meme inventory volatility saga — partly on account of very lively and opinionated retail merchants on r/WallStreetBets subreddit — and in addition, in December, introduced it had confidentially submitted paperwork to the Securities and Trade Fee (SEC) for an Preliminary Public Providing (IPO).
“This previous 12 months, Reddit grew to become 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 impression their communities,” Reddit mentioned in a weblog put up.
It comes as no shock that breaking down probably the most considered matters of 2021, crypto is the primary theme, previous gaming.
“In 2021, there have been loads of conversations on Reddit, however none extra distinguished 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 info, assist, or to share main successes, Reddit continues to be the hub for cryptocurrency lovers,” the recap learn.
Notably, Dogecoin garnered extra curiosity than Bitcoin on Reddit in 2021: the top-five most-viewed crypto communities in 2021 had 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 progress elevated probably the most amongst Reddit’s crypto communities, with a 917K% improve 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 Common Posts on Reddit
When it comes to 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 tons of who put $1000 and are left with $0.1,” from r/cryptocurrency.
Different matters 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 record of hottest threads.
Reddit Expands, Opens New Workplaces
Along with the deliberate IPO, Reddit mentioned it continued its world enlargement by saying new workplaces in Canada, Australia, and Germany, reaching new redditors across the globe.
“The variety of shares to be supplied and the value vary for the proposed providing haven’t but been decided. The preliminary public providing is anticipated to happen after the SEC completes its assessment course of, topic to market and different situations,” 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,” informed 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 creating wealth.
“On the identical time, I may see it turning into a meme inventory because it hosts WallStreetBets which is the last 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, Very good 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 12 months as retail merchants on r/WallStreetBets, who had 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 typically ire, of regulators.
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