CoinGecko Social Media Survey: X, TG, and YouTube Most Favored, 70% of Users Get News from Social Media Rather Than News Websites
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CoinGecko Social Media Survey: X, TG, and YouTube Most Favored, 70% of Users Get News from Social Media Rather Than News Websites
More than half of community members prefer to get information on the same social media platform where they spend the most time, rather than turning to other sources.
Navigating Web3 tides with focused insightsAuthor: Lim Yu Qian
Translation: TechFlow
What Are the Most Used Social Media Platforms in Crypto?
The primary social media platforms used for cryptocurrency are X (formerly Twitter), Telegram, and YouTube—accounting for 84.0% of responses from the crypto community in a recent survey. Another 15.0% primarily use Discord, Reddit, or other social media platforms, while the remaining 1.0% indicated they belong to no crypto-related social media.
Although X is clearly the most popular crypto social platform, only 41.7% (less than half) of the crypto community considers it their main social space. This suggests that despite the prominence of crypto Twitter—and how CT content and discussions are frequently cited or referenced to reflect industry sentiment—X is not the sole online hub where the crypto community gathers.
Following closely are Telegram and YouTube, which show similar levels of popularity among surveyed crypto participants. 21.5% said they spend most of their time on crypto Telegram, followed by 20.8% who primarily engage with crypto content on YouTube.
Crypto Discord serves as the main social media platform for 6.8% of respondents, slightly higher than the 4.5% who primarily use crypto Reddit. This may be because Discord and Reddit are often seen as supplementary platforms within the crypto ecosystem.
Meanwhile, only 1.3% of participants primarily use Farcaster. The decentralized social network generated significant buzz initially and continues to attract attention, but it remains unclear whether Farcaster can solidify its position among leading crypto social platforms.
Finally, 2.4% of respondents said they mainly use other social platforms not listed in the provided options. Examples include 4chan, WhatsApp, and TikTok. Less common answers included DeBank, Odysee, and GitHub.
Where Do People Get Their Crypto News?
Most members of the crypto community obtain their news and information primarily from social media platforms rather than news websites. A total of 73.8% get the majority of their crypto-related information from X, YouTube, or Telegram, compared to just 6.5% who rely on news sites as their primary source.
X is the most popular source for crypto news and information, with 34.4% of participants relying on it. Among the 1,065 respondents who use crypto Twitter, 710 (66.7%) also consider it their main information source.
Crypto YouTube ranks second with a 23.4% market share, surpassing crypto Telegram. Among the 531 participants who identify crypto YouTube as their primary social media platform, 365 (68.7%) also use it for information consumption.
Another 16.0% said they receive most of their crypto information from Telegram, making this messaging platform more than twice as popular as news websites. Among the 548 participants who primarily use Telegram, 312 (56.9%) also rely on it as their main information source—slightly lower than usage rates observed on crypto Twitter and YouTube.
Overall, more than half of community members tend to get their information from the same social media platform where they spend the most time, rather than turning to alternative sources.
Less popular sources of crypto information include Discord (5.3%), newsletters (3.8%), Reddit (3.3%), podcasts (1.6%), and Farcaster (0.8%). Finally, 4.6% indicated other primary sources such as data analytics sites, personal networks, 4chan, and research providers. Notably, many participants emphasized using multiple information sources rather than relying on any single one.
Methodology
This study analyzes feedback from 2,558 crypto participants who anonymously took part in CoinGecko's post-halving sentiment survey between June 25 and July 8, 2024. Survey results are intended for reference only.
Among respondents, 69% identified themselves as crypto investors focused on long-term assets, 18% as traders dealing primarily in short-term assets, 7% as builders, and 6% as observers. In terms of experience, 46% are in their first cycle (0–3 years in crypto), 41% are in their second cycle (4–7 years), and the remainder are veterans with eight or more years of experience. Geographically, 90% of participants are based in Europe, Asia, North America, and Africa, with the rest located in Oceania or South America.
This study is for informational and illustrative purposes only and does not constitute financial advice. Always conduct your own research and exercise caution before investing in any cryptocurrency or financial asset.
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