Connect with us

Tech

Twitter’s global market share grows by 55% in 2022 while Facebook loses 12%

Published

2 years ago

on

Twitter (NYSE: TWTR) and Facebook (NASDAQ: FB) rank as the pioneer social media platforms accounting for billions of users globally, with the two companies competing to be the ultimate leader in the space. However, in recent months, both platforms have recorded a fluctuation in the market share, with Twitter appearing to have the upper hand from a growth perspective amid ongoing internal administrative changes. 

In particular, data compiled and calculated by Finbold on November 8 indicates that Twitter’s market share has surged by 55.86% in 2022. On the other hand, Facebook’s share plunged by 11.86% between January and November 2022. The market share value accounts for desktop and mobile devices worldwide. 

A breakdown of the market share indicates that Facebook began the year at 76.85%, the platform’s highest share in 2022, while in November, the value stood at 67.73%. Elsewhere, in January, Twitter had a market share of 7.16%, while as of November, the figure stood at 11.16%.

Twitter hits new levels under Elon Musk

From the data, Facebook remains the dominant social media platform, but Twitter is winning the race to expand its market share. Twitter’s share has spiked in correlation with the company’s acquisition by Tesla (NASDAQ: TSLA) CEO Elon Musk, who has already begun implementing several changes at the company. 

Interestingly, internal reports, also confirmed by Elon Musk, indicate that Twitter’s daily user growth attained an all-time high during the first full week of Musk’s tenure. The performance appears to quell initial fears that Twitter might experience a mass exodus of users with Musk’s takeover. 

Based on the market share data across the year, it can be assumed that Musk has influenced the numbers; for instance, the share spiked around May when the deal was first announced but appeared to plunge after he initially backed out. 

In general, the growing market share is a welcomed development considering that a recent report signaled challenging times for Twitter for losing its most active users. Notably, this factor was among the critical areas of focus for Musk after taking over. In this case, the Tesla boss has proposed changes to the Twitter Blue subscription feature. Under the changes, Twitter has rolled out an option to purchase “verified” blue badge for $7.99 a month to incentivize people to interact more. 

However, Musk’s initial involvement with Twitter has come with objections from some quarters and will test the company’s ability to sustain its market share. For instance, employees had objected to the deal even as Musk initiated layoffs in his first week. At the same time, Musk’s stand on free speech on the platform has been questioned, a factor likely to affect both users and advertisers. 

Impact of Twitter design changes 

Besides the Musk factor and promises to make a change, Twitter’s growth can also be attributed to elements like changing the design. Although the company received criticisms for changing its appearance, the move to have the horizontal navigation menu shift from the top of the screen to the left-hand panel has appeared successful. 

Interestingly, Twitter has previously been scrutinized for attempting to emulate Facebook, especially with the rollout of its stories-like Fleets. However, Twitter resorted to shutting down the feature due to a lack of user interest. 

At the same time, Twitter’s content diversity appears to appeal to most users. Notably, the platform supports cryptocurrencies alongside enabling “not safe for work” (NSFW) such as nudity and pornography. 

Facebook’s dwindling market share 

At the same time, Facebook’s market share has been affected by the growing competition with newer social media platforms like TikTok. In this line, the company is losing both users and advertising revenue to rivals like TikTok. 

Market experts have also accused Facebook of attempting to push users from the platform. Notably, the platform is enticing users from the traditional news feed to reels, a factor that can also hurt its revenues. 

Overall, Facebook has struggled with users over the years, with experts pointing to factors like information overload, privacy concerns, addiction, peer pressure, and the emergence of new platforms. Facebook’s dominant focus on promoting the metaverse has yet to yield results despite the aggressive push by CEO Mark Zuckerberg. 

Finally, Facebook and Twitter’s ability to sustain and grow their market share will depend heavily on how the platforms intend to attract new users amid the rising competition. For example, the competing platforms offer similar features to Facebook, giving users alternatives.

Twitter has managed to stand out, considering that there is no solid option for the Musk-led company. Notably, Twitter has dominated as a uniquely influential site that is fast-moving, text-heavy, conversational, and news-oriented.

The post Twitter’s global market share grows by 55% in 2022 while Facebook loses 12% appeared first on Finbold.

Related Topics:

Crypto Chain Wire specifically designed for crypto, NFT, DeFi and all other blockchain companies to provide them instant and effortless crypto news syndication services. CryptoChainWire is the best PR syndication platform for any blockchain startup looking to gain maximum media attention. Visit Us : https://www.cryptochainwire.com/ Contact Us: contact@cryptochainwire.com

Continue Reading

Tech

Singularity Finance and Crymbo Revolutionize Compliance in Tokenized AI Economies

Published

4 months ago

on

January 3, 2025

By

TL;DR

  • Singularity Finance and Crymbo join forces to ensure regulatory compliance for tokenized assets through an innovative decentralized oracle solution.
  • The system ensures absolute privacy by encrypting all user-shared data and eliminates cumbersome manual processes for compliance validation.
  • This groundbreaking partnership accelerates the adoption of tokenized real-world assets (RWAs) by financial institutions, boosting liquidity and accessibility in the AI-driven economy.

The AI-powered tokenization network Singularity Finance has achieved a major milestone in simplifying compliance for real-world assets by partnering with Crymbo. This collaboration aims to guarantee that tokenized transactions meet global financial regulations using Crymbo’s pioneering compliance data unification layer. 

Singularity Finance, a product of the merger between SingularityDAO, Cogito Finance, and SelfKey, has developed a Layer-2 network for tokenizing vital assets within the AI economy, such as graphics processing units (GPUs) and data. This infrastructure is designed to make the AI economy more accessible and liquid, allowing broader participation and investment. However, regulatory compliance continues to pose challenges for organizations eager to enter this space. 

Tweet by Singularity Finance

Innovative Real-Time Compliance Technology

Crymbo introduces a transformative solution: a decentralized oracle that provides real-time compliance validation while preserving user privacy. All exchanged information is fully encrypted, ensuring that even Crymbo cannot access the data. This innovative system eliminates the need for outdated manual processes, such as the repeated exchange of compliance data via multiple technological platforms, by automating the entire procedure within a secure and efficient ecosystem. 

By integrating this technology, financial institutions can now easily demonstrate adherence to regulations, significantly increasing the appeal and feasibility of tokenized assets. The solution is scalable, adaptable, and ready to evolve with changing regulatory requirements, ensuring businesses remain ahead of compliance standards. 

singularity-finance

“With Crymbo’s oracle, compliance becomes seamless and more efficient, adapting effortlessly to ever-changing regulations”,

commented a spokesperson for Singularity Finance. 

This partnership marks a critical leap forward in driving the adoption of tokenized real-world assets. By overcoming compliance hurdles, Singularity Finance and Crymbo are not only enhancing efficiency but also fostering greater security, transparency, and trust within the tokenized AI economy. This breakthrough is expected to unlock new opportunities for institutions and investors alike.

The post Singularity Finance and Crymbo Revolutionize Compliance in Tokenized AI Economies appeared first on The Cryptocurrency Post.

Continue Reading

Tech

SniperX Revolutionizes Memecoin Trading with Direct Integration on X

Published

5 months ago

on

November 30, 2024

By

TL;DR

  • SniperX enables trading memecoins directly from the X timeline, eliminating the need for external platforms.
  • It offers real-time analysis with one-second candlestick charts, live trading volumes, and instant price updates.
  • It combines social trends with market tools and a referral system to enhance user experience.

SniperX, an innovative memecoin trading bot, has recently been launched for X users. This new tool aims to revolutionize how traders interact with the market, enabling transactions directly from the social feed without leaving the platform. With the launch of SniperX, users can buy memecoins more quickly and easily, using just the token’s ticker symbol or contract address (CA).

The main advantage of SniperX is its seamless integration with the X user experience. Now, users can trade while browsing their timelines without needing to access external trading platforms. This approach simplifies the process, removing intermediate steps and making memecoin trading more accessible to anyone familiar with social media.

One of SniperX’s most important features is its ability to provide advanced real-time analysis tools. Users can access candlestick charts with one-second intervals, live trading volumes, and up-to-date price data. This valuable information allows traders to make quick and accurate decisions, staying ahead of market movements and maximizing investment opportunities.

SniperX: The Attention Economy

What truly sets SniperX apart from other trading platforms is its ability to merge social trends with traditional market analysis tools. Users can identify which tokens influencers are promoting and which topics are generating the most buzz on the network. Influencer rankings show who is driving conversations, providing a unique advantage in spotting future memecoin stars.

sniperx trading bot

Additionally, SniperX incorporates a referral reward system, allowing users to earn a commission every time their friends make trades using the bot. This additional monetization strategy serves as a strong incentive to encourage the adoption of the tool.

The bot not only offers a faster and more efficient way to operate in the memecoin market but also integrates the power of social media and the trends of the “attention economy,” creating a new approach to market trading

The post SniperX Revolutionizes Memecoin Trading with Direct Integration on X appeared first on The Cryptocurrency Post.

Continue Reading

Tech

StarkWare’s Million-Dollar Vision: Scaling Bitcoin with Zero-Knowledge Technology

Published

11 months ago

on

June 5, 2024

By

TL;DR

  • StarkWare has announced an initiative to scale Bitcoin and Ethereum using zero-knowledge (ZK) technology, backed by a $1 million research fund. The initiative aligns with Satoshi Nakamoto’s vision of enabling everyday micropayments.
  • The Bitcoin community is considering a technical proposal known as OP_CAT. If approved, it could enable potential STARK scaling on the Bitcoin blockchain. StarkWare supports OP_CAT and describes it as “the safest path for Bitcoin to scale.”
  • StarkWare recently introduced a new scaling framework, ZKThreads, which could prevent trapped funds and enhance the scalability of decentralized applications.

StarkWare, a leading blockchain technology company, has announced a bold initiative to bring Bitcoin to the masses. Backed by a $1 million research fund, the company aims to use zero-knowledge (ZK) technology to scale Bitcoin and Ethereum simultaneously.

The initiative is centered around Scalable Transparent Argument of Knowledge (STARK) cryptography, a form of ZK technology. StarkWare’s announcement aligns with Satoshi Nakamoto’s vision of enabling everyday micropayments and creating a scalable solution to support global Bitcoin transactions.

StarkNet, a recognized permissionless and decentralized rollup for Ethereum, will serve as the cornerstone for the scaling solution of Bitcoin and Ethereum. Rollups function by consolidating hundreds of thousands of transactions off-chain, and then validating them on-chain at a significantly reduced cost.

StarkWare CEO and co-inventor of cheat-proof ZK cryptography, Eli Ben-Sasson, stated in a press release, “Bitcoin today is mighty, but still a fraction of what it can be.”

Boasting a valuation of $8 billion from its latest funding round, StarkNet declared that it initiated trials of zero-knowledge proofs on Bitcoin back in March. This followed their pledge to release their technology under an open-source license.

StarkWare’s Million-Dollar Vision: Scaling Bitcoin with Zero-Knowledge Technology

The Potential of OP_CAT

The Bitcoin community is currently considering a technical proposal known as OP_CAT. If approved, it could pave the way for potential STARK scaling on the BTC blockchain. Ben-Sasson expressed StarkWare’s support for OP_CAT, describing the OP_CAT Bitcoin soft fork as “the safest path for Bitcoin to scale.”

Introducing ZKThreads

This announcement follows StarkWare’s recent introduction of a new scaling framework, ZKThreads. Louis Guthmann, head of product/market strategy at StarkWare, believes that the framework can prevent trapped funds and enhance the scalability of decentralized applications, potentially preventing a recurrence of incidents like the FTX-Alameda collapse.

StarkWare’s ambitious plans demonstrate the potential of ZK technology to unlock and benefit Bitcoin and the broader blockchain community. As the company seeks to promote research into OP_CAT, the future of Bitcoin could be on the brink of a significant transformation.

The post StarkWare’s Million-Dollar Vision: Scaling Bitcoin with Zero-Knowledge Technology appeared first on The Cryptocurrency Post.

Continue Reading

Trending