The number of subscribers of cryptosubreddits has reached a record


The total number of subscribers of the leading Reddit crypto communities – r/Bitcoin and r/Ethereum – has reached a new all-time high of 7 million users.

From June 4 to June 11, over 364,000 subscribed to the section dedicated to the first cryptocurrency. The Ethereum community attracted 461,000 users during the same period.

Weekly growth of subscribers in Reddit crypto communities. Data: The Block.

The r/EthTrader and r/Cryptocurrency subreddits also saw a surge in subscribers.

Probably, the interest of the community was attracted by the litigation of the US Securities and Exchange Commission (SEC) with the two largest US crypto exchanges.

On June 5, the regulator sued Binance and its CEO Changpeng Zhao. The SEC filed 13 charges, including the sale of unregistered securities. The next day, the agency filed a similar lawsuit against Coinbase.

A local scandal also broke out on Reddit – more than 6,000 communities, including cryptocurrency ones, disconnected in protest against the company’s monetary policy towards developers.

Recently, the platform management announced that it will start charging third-party applications for the use of API. Apollo Reddit developer Christian Selig announced his intention to curtail development due to a new policy that will cost him “millions of dollars.”

Recall that the number of collectible avatars released by Reddit users has exceeded 13.7 million. The capitalization of the project has already reached $38.5 million.

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