As the world of cryptocurrency continues to evolve, so does the landscape of how these projects are being communicated to the public. One of the most important ways of building a community and keeping them informed of the project’s updates is through blogging.
However, according to a recent report by LunarCRUSH, a cryptocurrency social analytics company, 36% of the top 1,000 crypto projects went silent on blogging this year. In other words, over a third of the most important cryptocurrency projects have stopped updating their community on their website or Medium page.
To some, this might just sound like another trend, but in reality, it could signify much more. Here are some of the reasons why this trend should concern both investors and supporters of cryptocurrency projects.
Lack of transparency
Many cryptocurrency projects and their supporters are advocating transparency and accountability, yet silence on important updates is the opposite of transparency. Blogging not only provides updates on the project’s development, but it also creates trust and builds credibility with the community. By going silent, these projects are stepping away from their commitment to transparency and a clear communication strategy.
It’s worth noting that the LunarCRUSH report only reviewed blogging activity. But silence here is likely correlated — there are certainly a number of other communications channels that these projects may be active on. But a lack of transparency in one important area can be indicative of a larger, more systemic issue with transparency within a project.
Decline in interest
With new cryptocurrency projects cropping up almost every day, there is fierce competition for attention and investment. Having regular updates on the company’s website or blog is one way of distinguishing a project from the others. Conversely, silence is a clear indication that the project is struggling or simply not interested in growing its user base. This could lead to a decline in the interest of the community, and in turn, negatively impact the project’s value.
Loss of credibility
When a project goes silent, it risks losing credibility both with investors and the community. A lack of updates may be interpreted as a lack of concern for the project’s success or lack of resources to execute the roadmap. In either case, investors may start losing trust and becoming skeptical about the project’s future.
A lack of updates can also lead to rumors and speculations about what might be happening behind the scenes. The lack of communication can give room to baseless assumptions and breed distrust that could spell doom for a project.
Negative impact on price
In the world of cryptocurrency, price volatility is an accepted reality. However, silence from the project’s team can lead to even greater volatility and price drops. As we have just mentioned, a lack of updates can lead to a lack of interest and loss of credibility. As a result, investors may start selling their stakes or shorting the project, which in turn triggers a drop in prices.
In conclusion, the trend of 36% of the top 1,000 cryptocurrency projects going silent on blogging is concerning and should not be ignored. It can lead to a lack of transparency, decline in interest, loss of credibility, and negative impact on price. As a community, we should demand openness and transparency from the projects we invest in. This not only ensures the success of the project, but also fosters trust and credibility within the cryptocurrency sector as a whole.
A new report by Guerilla Buzz, a blockchain marketing agency, has revealed that more than a third of the top 1,000 cryptocurrency projects have not published new content on their websites in 2023. The report found that only 49.7% of these projects posted more than 2 new articles this year. The researchers observed that many crypto companies do not prioritize strong marketing foundations, instead focusing their efforts on generating hype for their token sales and opting for short-lived growth spurts instead of prioritizing long-term organic growth. The report’s research methodology was straightforward yet labor-intensive, with researchers manually inspecting the corresponding website of the top 1,000 crypto projects to see if it had a blog. Of these 1,000 projects, less than half (49.7%) had posted more than two new articles in 2023.
The report noted that the clear blogging leader among the top ten crypto projects was Binance’s BNB Chain, with 59 new articles published this year. In second place was Polygon (MATIC) with 36 new posts, followed by Cardano (ADA) with 12. The researchers also found that the most popular blogging website of choice for crypto projects was the free blog hosting website Medium. This is reportedly a practice that has stuck around since the days of the 2017 Initial Coin Offering (ICO) craze, where thousands of new projects popped up in the span of a few months, many of which opted for little more than a one-page website, a whitepaper, and “lofty promises of a tech revolution.”
However, while Medium remains the go-to platform for many crypto project blogs, it may not actually be the best choice for companies seeking long-term growth. By relying on Medium’s platform, these companies are essentially boosting Medium’s traffic and growth instead of their own, the report suggests. While Medium’s excellent on-page SEO capabilities and high domain authority may have made it an easy choice for crypto companies seeking to generate buzz quickly, this focus on short-term gains may not be sustainable in the long run.
Overall, the report implies that cryptocurrency companies are not doing enough to prioritize marketing and content creation to promote their projects. A good marketing foundation is essential for any project, and crypto projects are no exception. Companies need to focus on providing high-quality content that addresses their target market’s needs, curating articles and resources that educate and inform prospects while still generating hype and interest among crypto enthusiasts. By doing so, crypto projects can participate in the organic growth that can lead to long-term success.
