Cryptocurrencies have gained a global presence, covering social networks. While X remains a favorite among crypto enthusiasts, other social media platforms are also emerging. Most notably, TikTok has been a hub for much crypto-related content.
According to a recent study by CoinGecko, the top 15 crypto-related hashtags on TikTok have garnered an impressive total of 115 billion views. Among countless hashtags,#cryptohas emerged as the most prominent topic.
Boasting a remarkable 4 million posts, this hashtag has accumulated a staggering 30 billion views, cementing its status as one of the most widely viewed hashtags on TikTok. However,#Cryptocurrencyhas fewer views, the term is still used on 2 million posts with 10 billion views.
Bitcoin tops TikTok
Bitcoin, the king coin, is very popular with TikTok users. Bitcoin has accumulated an impressive 5 million posts with a total of 28 billion views through the hashtags#bitcoinand #btc. Ethereum's presence on the platform is also significant. It includes a total of 1.81 million posts and 8 billion views under the hashtags#ethand #ethereum. By comparison, Bitcoin has more than twice as much content and three times as many views as Ethereum on TikTok.
Elon Musk's favorite cryptocurrency, Dogecoin, has attracted interest not only on X but also on TikTok. Dogecoin has garnered 3 billion views across its posted content, for a cumulative total of 0.46 million Dogecoin posts. Additionally, other widely used hashtags include Binance, NFT, Metaverse, Defi, and XRP.
The most crypto-prone countries on TikTok
According to data from Statista , the United States and Indonesia have the highest number of TikTok users. However, European users are dominating the cryptocurrency space on TikTok. Among the top 15 countries on TikTok with high engagement with crypto content, a notable 14 are from Europe, of which 10 are members of the European Union (EU).
This implies that crypto marketers can effectively penetrate the European market using TikTok, considering the evident enthusiasm for the top crypto-related hashtags on this platform.
While the increased interest signifies increased attention to the cryptocurrency sector, there are still certain concerns that need to be addressed. A research report in April revealed that a significant portion of cryptocurrency-related TikTok videos, more than 30%, contained misinformation.
An analysis conducted by dappGambl on 1,161 videos found that more than a third of the videos contained deceptive content. Furthermore, the study highlights that 47% of creators in the TikTok crypto community are trying to make a profit by promoting various projects and services related to cryptocurrency.