Crypto Subreddit membership numbers surged last week
January 30, 2021, 10:33AM EST
1 min read
Until last week, the r/bitcoin subreddit added between 20,000 and 30,000 new members on a weekly basis.
That number of new subscribers surged to more than 150,000 for the week of January 24, according to data collected by The Block Research.
Other cryptocurrency-related subreddits saw significant growth as well.
The week of January 17th, the r/Ethtrader subreddit added about 15,120 members. The week of January 24th, however, the same subreddit's ranks swelled by more than 287,000.
The culprit? One might chalk it up to the groundswell of activity on Reddit around investments, particularly meme-driven stocks like GameStop as well as the meme-themed cryptocurrency dogecoin.