Redditors on WallStreetBets (WSB), the cult-like finance subreddit that earned mainstream attention alongside the meteoric rise of “meme stocks” earlier this year, seem to be looking elsewhere for their financial advice—at least judging by the number of user comments over the past three weeks.
Meanwhile, the popular r/Cryptocurrency subreddit has gained some traction, with comment volumes soaring by as much as 82% between May 1 to May 21, according to data from the research company Quiver Quantitative.
“Investors still love a meme stock,” Interactive Brokers’ chief strategist, Steven Sosnick, told the Financial Times. “Crypto was a purer expression of meme trading. It took a lot of steam out of stock and options speculation.”
For the crypto subreddit, the record high of 59,000 comments in a single day fell on May 19, the same day that Bitcoin plummeted below $40,000 for the first time in three months.
Two days later, r/Cryptocurrency saw nearly 36,000 daily comme