20/08/19 11:00 UTC-4

Top 5 most hyped cryptocurrencies on Twitter manipulate users

CryptocurrencyTop 5 most hyped cryptocurrencies manipulate users
Top 5 most hyped cryptocurrencies manipulate users

Analytical company TheTie conducted research on the most hyped cryptocurrencies. The lion's share of them comprises little-known coins. The company claims that their management simply "cheats."

 

The most popular cryptocurrencies on Twitter

TheTie has developed a metric, which determines the number of posts about cryptocurrency on Twitter per every $1 million in coin tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
volume. The company called it the "Hype-to-Activity Ratio."

In total, 450 cryptocurrencies were included in the study. On average, users left 1.02 tweets per $1 million in trading volume. However, for some coins, this figure is hundreds of times higher.

The record-holder was the TokenPay cryptocurrency. On average, it has 911 posts on the social network per $1 million in trading volume. Other "tops" are also questionable.

 

Top 5 overhyped cryptocurrencies (Data provided by TheTie)
Cryptocurrency Tweets per $1 million in trading volume
TokenPay 911.1
Electroneum 678.8
Dragonchain 505.3
Telcoin 287.5
DigiByte 153.4

 

 

 

 

 

 

In comparison, when it comes to the largest cryptocurrencies in terms of market capitalization, such as Bitcoin, the number of posts does not exceed 5 per $1 million in trading volume.

Hype-to-activity of the 5 largest cryptocurrencies (Data provided by TheTie)
Cryptocurrency Tweets per $1 million in trading volume
Bitcoin 1.72
Ethereum 1.17
XRP 4.07
Bitcoin Cash 0.71
Litecoin 1.08

 

 

 

 

 

 

TheTie explains this anomaly by the fact that hyped cryptocurrencies get so many tweets by simple "cheating." For example, they buy fake users and bots to create the visibility of mass support from investors. TheTie believes that this manipulation is aimed at beginners in the crypto industry.

  • The lowest posts-to-trading volume ratio was in USDT cryptocurrency (0.003). EOS (0.08) came in second.
  • The founders and management of cryptocurrency manipulate not only Twitter users, according to TheTie. For example, the account of Justin Sun, founder of TRON, received 6 million likes on Facebook. Coinbase crypto exchange got only 187,000 likes out of 30 million customers.

Editor: Yuliya Soroka

See also: "The youngest Bitcoin millionaire competes with Facebook"

#HYPE #HYIP #Hype #Cryptocurrency #Twitter

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