I compared the change in value of the top 10 coins by market cap compared to the change in subscriber count on their respective subreddits year-to-date. Why? IDK. But I did. Here are the data.

I took the top 10 coins today, by market cap (excluding stable coins). I looked up their price at the start of today as well as on January 1st, 2021. This is not the growth of their market cap, but rather, the change in USD per coin.

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Fig. 1 - Percent increase in USD per coin for the top 10 (by market cap) coins as of August 14th, 2021.

This figure shouldn't be wildly surprising for folks. You all know Dogecoin had a huge percent increase this year, and even though it's off of it's ATH, it still is a beast. Bitcoin by comparison is much lower, but still is up 162% this year. All the other coins are somewhere between Bitcoin and Dogecoin in terms of % increase. As mentioned, stablecoins were skipped here; if they were included, we'd have Tether and USDC in the list, and Bitcoin Cash and Solana wouldn't have made the cut.

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Fig. 2 - Change in subscriber count of the subreddits for the top 10 coins by market cap as of August 14th ,2021.

Here, I looked at the change in subscriber counts from January 1st until August 14th. As a note, some coins (e.g. Ripple) have more than one subreddit, so I took the largest of them for the respective coin/tech. It's obvious here that r/bitcoin has been the largest subreddit for a while and still maintains a healthy lead at ~3,270,000 subscribers compared to r/dogecoin's 2,130,000. Doge did have a massive increase this year of course. As a percentage, r/polkadot had a massive increase too, but frankly the subreddit was virtually non-existent in January, so a 1,641% increase really is only about 45,000 new subscribers.

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Fig. 3 - The percent difference between the percent increase in coin value to the percent increase in subscriber count for a coin's subreddit.

This is a bit hard to explain and probably could be done better, but let me explain. Look at Bitcoin. The value there is 216%. What that means is that the value of Bitcoin increased 216% as much as the subscriber percentage to r/bitcoin increased between January 1st 2021 and August 14th 2021. In other words, r/bitcoin had a 75% subscriber increase, but Bitcoin increased 162% in USD value; (162/75)*100 = 216%. This same formula is applied to all ten coins.

What conclusions can we draw from this? Well, I'll start by saying this was mostly for fun and out of curiosity, not to inform folks about what coins to buy and sell. Please don't make financial decisions based on this data. I'll note that every coin except for Polkadot grew in value at a higher rate than their respective subreddits grew in subscribers (as a percentage); Polkadot is an exception most likely because the r/polkadot subreddit was so very tiny to start the year, so any increase in actual subscriber count would be a drastic percent increase.

However, r/solana was a similar size to r/polkadot, but because Solana grew so substantially in value (as a percentage) compared to Polkadot, the value of Solana still outpaced the subscriber count increase.

Ripple is on the other end of the spectrum. It didn't really blowup in subscriber count compared to the others, especially when you compare it to the value increase in XRP. However, this is kind of a complicated comparison, because r/ripple is larger than r/xrp, but r/xrp is still substantially large. Perhaps I should have combined the two subscriber counts.

The r/dogecoin army grew so massively, yet still didn't grow so much as to keep down the ratio in Fig. 3. Basically, Dogecoin itself blew up so damn insanely that even though r/dogecoin gained around 2,000,000 subscribers this year (a ~1,083% increase), Dogecoin itself grew considerably more on a percentage basis.

Anyway, this was just a fun little thing to play around with on a Saturday evening. Please carry on with your regularly scheduled Moon farming, and a may the lambos be with you.