Social media has a huge influence on the lives of most netizens, often dictating the way the world is perceived. The cryptocurrency industry is no exception. In fact, a new report by has predicted that social media will underpin the industry’s growth going forward. And, there is good reason to believe so too.

The report, studying cryptocurrency usage in Australia, found that more than half of the country’s population got their crypto-news from social media. However, this is a phenomenon that can be seen worldwide, especially across the developed world. Additionally, a higher proportion of the younger generation makes up that population, just as they do in the case of cryptocurrencies.

Cult of personality

This correlation plays out in many ways, not many of which can be considered positive. Even though social media allows users to gather information and interact with communities, it can also lead to many gaining…

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