Another cryptocurrency seems to have sprung out of nowhere, becoming the second most mentioned crypto on Twitter over the last hour as per the time of this article. With Bitcoin ultimately leading the way, Swipe or SXP beat Ethereum by 28 mentions.

Popular Cryptocurrencies on Twitter

Popularity on Twitter has become one way for investors and traders to know what cryptocurrencies to look at. While this is an effective way of knowing the most popular cryptocurrencies during that time period, it is still not an accurate indicator of whether or not the crypto will become bullish in price.

It is important to DYOR or do-your-own-research before purchasing any digital asset and not rely solely on its popularity. With the rise of Dogecoin and Shiba Inu, investors have started to see the importance of social buzz on a certain crypto asset.

Hype on Cryptocurrencies

Hype has played a huge factor when it comes to market price. Although this is not always proportional, as seen on Doge and Shiba Inu, the more people started talking about these two cryptocurrencies, the more they started to increase (and also decrease) in price.

CoinTrendz tweeted out the top 10 crypto mentions, with Bitcoin leading while Ethereum dropped to third. Ethereum is the second-largest cryptocurrency based on market volume.

Here are the Top 10 Crypto Mentions on Twitter Over the Last Hour

1. BTC

Name: Bitcoin

Mentions: 600

2. SXP

Name: Swipe

Mentions: 348

3. ETH

Name: Ethereum

Mentions: 320

4. SHIB

Name: Shiba Inu

Mentions: 207

5. VLX

Name: Velas

Mentions: 190

6. ADA

Name: Cardano

Mentions: 121

7. GALA

Name: Gala

Mentions: 106

8. HIVE

Name: Hive

Mentions: 99

9. SOL

Name: Solana

Mentions: 94

10. POLY

Name: Polymath

Mentions: 88

What is Swipe SXP

As per CoinGecko, Swipe, or the Swipe Wallet, has been designed to require users to use the Swipe Tokens SXP to perform all functions and utilities of the wallets. These include using the service to make withdrawals.

The Swipe Wallet can be used to buy, sell, and pay with cryptocurrencies directly to fiat within the wallet through applications like Gift Cards, making it easier to exchange assets. Users will be able to utilize their SXP tokens on launch, and tiered benefits are also said to be provided on the XRP holding on the Wallet Contract.

Read Also: New York-Based Investment Firm Says Top Crypto Will 'Easily Trade' at $500,000

1 SXP Deposit Required

Swipe Wallets require 1 SXP deposit to activate as well as utilize on-chain functions that are based on an audited Smart Wallet-Contract to perform its duties. The protocol is designed on Ethereum and works by destroying 80% of its network and transaction fees while retaining 20% of the fees.

As of the moment, SXP is not that big, with just a $547,365,119 market cap ranking #187 on CoinGecko. SXP is currently priced at $2.84.

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This article is owned by Tech Times

Written by Urian B.