We always talk about the flippening, so I thought I'd chart the subscriber count between the two largest cryptocurrencies over time:
| /r/Bitcoin subscribers | /r/Bitcoin subscriber percentage change | /r/Ethereum subscribers | /r/Ethereum subscriber percentage change | /r/Ethereum / /r/Bitcoin ratio | /r/Ethereum / /r/Bitcoin ratio percentage change | ETH / BTC Marketcap ratio | ETH / BTC Marketcap ratio percentage change | |
|---|---|---|---|---|---|---|---|---|
| January 1st 2017 | 199k | 20k | 0.100 | 0.008 | ||||
| April 1st 2017 | 214k (+15k) | +7.54% | 33k (+13k) | +65.00% | 0.130 | +30.0% | 0.051 | +537.50% |
| July 1st 2017 | 253k (+39k) | +18.22% | 84k (+71k) | +154.55% | 0.332 | +155.38% | 0.120 | +135.29% |
| October 1st 2017 | 341k (+88k) | +34.78% | 127k (+43k) | +51.19% | 0.372 | +12.05% | 0.071 | -40.83% |
| January 1st 2018 | 622k (+281k) | +82.40% | 242k (+115k) | +90.55% | 0.389 | +4.57% | 0.057 | -19.72% |
| April 1st 2018 | 787k (+165k) | +26.53% | 349k (+107k) | +44.21% | 0.443 | +13.88% | 0.053 | -7.02% |
| July 1st 2018 | 877k (+90k) | +11.44% | 369k (+20k) | +5.73% | 0.421 | -4.97% | 0.071 | +33.96% |
| October 1st 2018 | 944k (+67k) | +7.64% | 397k (+28k) | +7.59% | 0.420 | -0.24% | 0.033 | -53.52% |
| January 1st 2019 | 1008k (+64k) | +6.78% | 422k (+25k) | +6.30% | 0.418 | -0.48% | 0.036 | +9.09% |
| April 1st 2019 | 1026k (+18k) | +1.79% | 434k (+12k) | +2.84% | 0.423 | +1.20% | 0.034 | -5.56% |
| July 1st 2019 | 1062k (+36k) | +3.51% | 441k (+7k) | +1.61% | 0.415 | -1.89% | 0.027 | -20.59% |
| October 1st 2019 | 1153k (+91k) | +8.57% | 446k (+5k) | +1.13% | 0.386 | -6.99% | 0.021 | -22.22% |
| January 1st 2020 | 1233k (+80k) | +6.94% | 449k (+3k) | +0.67% | 0.364 | -5.70% | 0.018 | -14.29% |
| April 1st 2020 | 1348k (+115k) | +9.33% | 456k (+7k) | +1.56% | 0.338 | -7.14% | 0.020 | +11.11% |
| July 1st 2020 | 1493k (+145k) | +10.76% | 468k (+12k) | +2.63% | 0.313 | -7.40% | 0.024 | +20.00% |
| October 1st 2020 | 1672k (+179k) | +11.99% | 486k (+20k) | +3.85% | 0.291 | -7.03% | 0.024 | +0% |
| January 1st 2021 | 1870k (+198k) | +11.84% | 512k (+26k) | +5.35% | 0.274 | -5.84% | 0.025 | +4.17% |
| April 1st 2021 | 2652k (+782k) | +41.82% | 756k (+244k) | +47.66% | 0.285 | +4.01% | 0.033 | +32.00% |
| July 1st 2021 | 3156k (+504k) | +19.00% | 1029k (+273k) | +32.11% | 0.326 | +14.39% | 0.064 | +93.94% |
| September 21st 2021 | 3370k (+214k) | +6.78% | 1105k (+76k) | +7.39% | 0.327 | +0.31% | 0.070 | +9.83% |
Key takeaways:
- /r/Ethereum hasn't been outperforming /r/Bitcoin like the price has, which makes for an interesting divergence
- /r/Bitcoin has been gaining subscribers at a consistent pace, while /r/Ethereum seems to mostly gain subscribers in bull markets and stagnates in bearish trends.
- Most of /r/Ethereum's growth this year came the month of the gamestop short squeeze, suggesting a /r/WallStreetBets spillover flowed into altcoins around January.
- ETH/BTC Marketcap ratio is far more volatile than /r/Ethereum / r/rBitcoin subscriber ratio
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