Cryptocurrencies are overtaking meme stocks in discussions on Reddit as retail traders seek quick returns

Cryptocurrencies are overtaking meme stocks in discussions on Reddit as retail traders seek quick returns

Last Cryptocurrency is taking over Reddit threads, and are going to the back burner, according to figures from market data firm Quiver Quantitative. The data, shared with Insider, found comment volumes on the subreddit jumped 82% this month, while the number of comments on r/WallStreetBets sunk 25%. In further contrast, on Friday the cryptocurrency forum had about 36,000 daily comments, while Wall Street Bets had just 13,000. Cryptocurrencies went as a multi-day selloff caused the price of ether and bitcoin to plummet, along with altcoins such as Dogecoin. The selloff stretched into the weekend, but on Monday and Tuesday, the price of bitcoin . The number of comments in r/CryptoCurrency hit the highest point in the month last week with 59,000 in just one day. Though came into the spotlight earlier this year amid the GameStop frenzy and ballooned to more than 10 million followers, the forum forbids users from discussing cryptocurrency. The guidelines say, "No Pump & Dump, Crypto Discussions, Schemes or Scams." The cryptocurrency thread, however, says it's the "leading community" for discussion, news, and analysis on the topic, with nearly 3 million members. Retail traders, known to flock to Reddit to discuss markets, want to invest "in