Number of Subscribers to Bitcoin and Ethereum Subreddits Hits a New Record

The subscriber base of the premier Reddit crypto communities – r/Bitcoin and r/Ethereum – has surged to a record of 7 million users.

From June 4 to June 11, over 364,000 subscribed to the section dedicated to Bitcoin while 461,000 to the Ethereum community.

Subscribers to r/EthTrader and r/Cryptocurrency subreddits also increased. This growth in interest could have been due to the US Securities and Exchange Commission (SEC) filing lawsuits against two top US crypto exchanges.

The SEC brought 13 charges against Binance and its CEO Changpeng Zhao on June 5 while they filed a similar lawsuit against Coinbase a day later.

Adding to the commotion was a Reddit-wide protest by more than 6,000 communities, including some cryptocurrency subreddits.

They disconnected from Reddit in response to the company imposing fees on third-party application tech developers.