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 regarding the platform, together with the truth that redditors expressed extra investment curiosity in Dogecoin than in Bitcoin.
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Reddit was on the heart of this 12 months’s meme inventory volatility saga — partly as a result of very energetic and opinionated retail merchants on r/WallStreetBets subreddit — and in addition, in December, introduced it had confidentially submitted paperwork to the Securities and Alternate Fee (SEC) for an Preliminary Public Providing (IPO).
“This previous 12 months, 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 impression their communities,” Reddit stated in a weblog publish.
It comes as no shock that breaking down essentially the most considered subjects of 2021, crypto is the primary theme, previous gaming.
“In 2021, there have been quite a lot of conversations on Reddit, however none extra distinguished than cryptocurrency. For greater than 10 years, Reddit has been house 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 publish 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 In style Posts on Reddit
By way of most-upvoted posts amongst crypto communities, Dogecoin takes the No. 1 spot once more, with a publish titled “Who’s nonetheless holding $DOGE?” having 80,300 upvotes.
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This was adopted by posts titled “All of the affirmation bias I would like, 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 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 fee within the close to future,” rounding up the checklist of hottest threads.
Reddit Expands, Opens New Places of work
Along with the deliberate IPO, Reddit stated it continued its international growth by asserting new places of work in Canada, Australia, and Germany, reaching new redditors across the globe.
“The variety of shares to be provided and the worth 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 stated. “We’re in a quiet interval, and for regulatory causes, we can not say something additional.”
Additional: Dogecoin, Stimulus Check and More of the Most-Searched Financial Terms of 2021 on Google
Peter Cohan, a senior lecturer at Babson Faculty and writer of “Goliath Strikes Again,” advised GOBankingRates on the time that since it’s a confidential submitting, it’s onerous to know whether or not the corporate is rising quick or getting cash.
“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 Speak, Predictions, and CryptoSnoos — that gave redditors extra methods to attach and interact with one another.”
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Reddit made headlines earlier this 12 months 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 stated shares — together with GameStop, AMC Leisure and Mattress Bathtub & Past — hovering… after which crashing. In flip, the market volatility introduced the eye, and generally ire, of regulators.
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