Data Shows People Remain Enthusiastic About Crypto in Bear Market

• LunarCrush data hinted that there were 446,775 average social contributions as of December.
• BTC led social mentions, with 2k mentions within 10 minutes.
• The global crypto market cap struggled to remain above the $800 billion price point.

Although the global crypto market has experienced some of the worst events this year, data shows people are still enthusiastic about the Web3 industry and are far from losing interest.

LunarCrush, the social intelligence tracker for crypto, NFTs, and stocks, recently published that activities and social contributions in crypto communities have been on the upside for the last two years. LunarCrush data hinted that there were 446,775 average social contributions as of December 20, 2022.

According to LunarCrush’s official website, the top crypto with leading social mentions was Bitcoin (BTC), with nearly 2k mentions in a 10 minutes window. Other coins that featured on the list in order of magnitude were Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Uniswap (UNI) and Terra Classic (LUNC).

In the last few days, the global crypto market cap has struggled to remain above the $800 billion price point as cryptocurrencies continue to lose value. Responding to a comment about a potential uptrend, LunarCrush said:

The total market cap has already gone sideways for approximately six months, and the number of people talking about crypto has only started to decline rapidly in the last 1-month.

Of the top ten coins by large market cap, the meme Dogecoin (DOGE) has been the worst-performing token within the last seven days, followed by Cardano’s token. DOGE deprecated by 19.73%, trading at $0.07316, and ADA traded at $0.2527 after losing 18.96% over seven days. This price represents one of its lowest points since last year.