Similarities between Reddit and Steemit
I think that many reddit users will see the potential of Steemit to take over as a community driven social network & content discovery platform. A head-to-head comparison is a topic for another post. This looks purely at user data.
At the time of writing, the market cap of STEEM currency is around $630 million. Various online reports predict Reddit's value around 10 times that, somewhere between $5,000 million and $10,000 million. So when it comes down to it, how does it differ in actual user interaction?
Comparison of User Data
To compare the two, I'm using SimilarWeb data. You can view the full report here.
Total Visits
As you can see, although Steemit's user activity has more than doubled over the last few months (from a reported 2.1 million sessions in December-16 to 5.9million last month) it is nothing compared to reddit. What can we conclude from this? I think:
massive room to grow, still time for us to be one of the early-adopters. Reply to this to let me know what you think too!
User Interaction
Next up is engagement. Again, reddit users tended to be more engaged than Steemit users. In my opinion, this is because reddit already has much more existing content on the site from years of operation, so you can search and find lots within the same session. Also, at least for me, I find navigating through subreddits easier than finding interesting content on Steemit. I've read somewhere that it's in the roadmap for Steemit development, so again: lots of room for improvement and growth here.
Data source: SimilarWeb