Social network cryptocurrency

Are you struggling to increase the customer base for your crypto projects and communities? Leverage crypto social media content marketing tools. Is the competitiveness of the crypto market proving it difficult for your crypto business and communities to thrive? Recent statistics reveal that about million people in the United States of America use social media.

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Content:

• Forecasting of the cryptocurrency market through social media sentiment analysis
• Cryptocurrency scams are all over social media. Don't get duped
• Crypto Social Networks Aren't Cool
• Crypto Social Media: Where to Get Started
• How Social Networks Launch Their Own Cryptocurrency and Why?
• The First Blockchain Built for Decentralized Social Networks
• Chingari to become first Indian social network to issue crypto tokens

WATCH RELATED VIDEO: Top Social Tokens - Social Media Cryptocurrency Projects

Forecasting of the cryptocurrency market through social media sentiment analysis

Over the past few years, a growing number of Wall Street and cryptocurrency analysts have started to rely on a relatively underutilized source of information to try and beat their respective markets with: social media. For obvious reasons, social media is seen as a potential treasure trove of market sentiment information, and the macro analysis of forum messages, twitter comments and other social data to gain an edge has quickly been embraced by veteran quants. However, the ability of this data to actually and accurately predict price trends and develop new market alpha is still hotly contested by many crypto traders.

Hopefully, our latest study might finally put an end to this debate. At Santiment, we gather a massive amount of information from social media to try and determine its impact on the crypto market. As you read this, our system is collecting all incoming messages from over crypto-specific social media channels, including hundreds of Telegram groups, crypto subreddits, vetted twitter accounts, professional trader chats not indexed by Google and more.

We quickly found out it was going to be the former. The first real clues about the usefulness of social media data came when we created Emerging Trends , a handy list of the top 10 words with the highest growth ih crypto-related social mentions , which automatically updates every hour. However, we quickly discovered that this tool also had a nifty side effect.

This second point was a big deal. So after more than a year of data gathering - and some nicely executed trades based on this information by the Santiment team and community members - we recently put this theory to a proper test. One important caveat - the top 5 cryptocurrencies were excluded from this study. They also happen around major project announcements and often near local bottoms as well. The impact of social data on top cryptocurrencies will be the subject of a future study. So we analyzed the average coin price for these signals - from the 2 weeks before to the 2 weeks after these coins claimed a top 3 position on our Emerging Trends list:.

As you can see, there is a sharp increase in the price of these coins before the signal triggers. This further gives legs to our theory that price pumps are in fact the biggest reason why all of these coins suddenly get talked about a whole lot more than usual.

The 0 point on the X axis marks the average price of the analyzed coins on the day that the signal triggers. The most important part of the backtest is what happens afterwards:.

Within the next 12 days after a coin claims a top 3 position on our list of Emerging Trends, its price drops by an average of 8. Again - this is on a sample size of almost observed signals. Now, an experienced analyst would also ask about the behavior of the market itself. For this reason, an event study also looks at the market itself and tries to nullify its impact by removing a calculated beta. What does that mean? The below graph shows the results of our backtest alongside the average price behavior of Bitcoin, used here as a proxy for the crypto market:.

With the beta calculated, here are the results of our backtest after we removed the impact of the market from the analysis in orange :.

Even though the downtrend has reduced slightly after the signal triggers, the general behavior remained very much the same. The initial results of our event study demonstrate the massive potential of social media information as a leading sell indicator in cryptocurrencies. That said, placing aggregated data in proper market context is key to profitable trading in the long-term.

And this is something that no amount of automation can achieve. You can read our latest market reports and analysis over on insight. Of course, many of our insights in the past have been inspired by different coins showing up on our list of Emerging Trends.

Here is the price performance of the coins featured in those 18 insights, 2 weeks before and 2 weeks after we wrote about them:. Minus some ebbs and flows, the general pattern is again the same - the coins pump prior to our article s , and begin to decline shortly afterward. While the sample size is considerably smaller, this further validates our belief that - in order to truly be effective - market data needs to be interpreted by experienced analysts. Information is power but only in the right hands, which is why the Santiment team and vetted community members publish unique analysis about the crypto market each and every day.

Again, you can find all of our market reports and daily insights on insights. As laid out above, the results of our event study clearly showcase the potential of social media data as a leading sell indicator in cryptocurrencies. The second backtest also suggests that an enrichment of data through human interpretation typically yields the best results. When used to predict downtrends, the appearance of a coin in the top 3 words on our Emerging Trends list suggests an average downtrend of 8.

In the meantime, you can check out Emerging Trends live on S anbase and try its predictive power for yourself. If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends! Ibis Jun 5, Trading Crypto with Social Media Data At Santiment, we gather a massive amount of information from social media to try and determine its impact on the crypto market.

The coin is experiencing a strong price rally. This, of course, made sense - even in , outside of Bitcoin and Ethereum most cryptocurrencies only ever attract serious attention from the general crypto community during a pump. A price correction was imminent. So we analyzed the average coin price for these signals - from the 2 weeks before to the 2 weeks after these coins claimed a top 3 position on our Emerging Trends list: As you can see, there is a sharp increase in the price of these coins before the signal triggers.

The most important part of the backtest is what happens afterwards: Within the next 12 days after a coin claims a top 3 position on our list of Emerging Trends, its price drops by an average of 8. With the beta calculated, here are the results of our backtest after we removed the impact of the market from the analysis in orange : Even though the downtrend has reduced slightly after the signal triggers, the general behavior remained very much the same.

Automated vs Human Signals The initial results of our event study demonstrate the massive potential of social media information as a leading sell indicator in cryptocurrencies. Here is the price performance of the coins featured in those 18 insights, 2 weeks before and 2 weeks after we wrote about them: Minus some ebbs and flows, the general pattern is again the same - the coins pump prior to our article s , and begin to decline shortly afterward.

Cryptocurrency scams are all over social media. Don't get duped

Candao, an over-layer solution for the social cryptocurrency world, has launched its social network launchpad. This is the first of its kind in the crypto industry. Having a world where everyone and anyone can build, scale, and expand their businesses irrespective of whether the person is a business professional is possible through social network communities. Candao aims to create a new economic paradigm with its social network launchpad. The project seeks to combine network effects, blockchain technology, and people to unleash the full potential of the crypto community. This is an indication that there are endless possibilities in the crypto and blockchain market.

Crypto Social Networks Aren't Cool

All rights reserved. Charles St, Baltimore, MD Blockchain bulls could argue that just about anything on the internet can be improved through decentralization. Right now, the web — thanks in huge part to cryptocurrency — is seeing a renaissance in decentralization as a result. Blockchain networks open up the door for decentralized finance, decentralized applications and, most recently, the push for decentralized metaverses. Decentralization is the idea of taking the internet and outfitting it with a directly democratic method of governance. This concept can span many industries, from finance to to the metaverse and beyond, because there is a major imbalance of power on the internet.

Crypto Social Media: Where to Get Started

Groundbreaking crypto-driven social network platform, Crypter, brings together the best of both worlds with their unique Engage-to-Earn reward system. Crypter has been described by many, especially crypto enthusiasts and experts, as the next big thing in the digital currency space; creating a platform to bring together different categories of people, particularly with their Engage-to-Earn reward system. The global social media space has literally exploded over the years, allowing millions of people, irrespective of their location to communicate and relate. Unfortunately, many of the available platforms are not particularly friendly to crypto-related content.

How Social Networks Launch Their Own Cryptocurrency and Why?

DeSo is a new layer-1 blockchain built from the ground up to scale decentralized social applications to one billion users. Why DeSo? One word: Scale. Social applications generate a lot of data, and existing blockchains are not equipped to store and index it. DeSo was built from the ground up to scale one of the biggest untapped markets for blockchain: Social Media.

The First Blockchain Built for Decentralized Social Networks

Social networks and cryptocurrencies have a long story of close relationships. A lot of cryptocurrencies have become popular only thanks to social networks. Cryptocurrencies no longer live in the shadow of small forums and tech-savvy communities. They are becoming the subject of discussion in the mainstream media and social networks. The audience of blockchain projects is constantly growing, but cryptocurrencies remain a niche asset.

Chingari to become first Indian social network to issue crypto tokens

Over the past few years, a growing number of Wall Street and cryptocurrency analysts have started to rely on a relatively underutilized source of information to try and beat their respective markets with: social media. For obvious reasons, social media is seen as a potential treasure trove of market sentiment information, and the macro analysis of forum messages, twitter comments and other social data to gain an edge has quickly been embraced by veteran quants. However, the ability of this data to actually and accurately predict price trends and develop new market alpha is still hotly contested by many crypto traders. Hopefully, our latest study might finally put an end to this debate.

Visual analytics is an emerging research field that combines the strength of electronic data processing and human intuition-based social background knowledge. This study demonstrates useful visual analytics with Tableau in conjunction with semantic network analysis using examples of sentiment flow and strategic communication strategies via Twitter in a blockchain domain. We comparatively investigated the sentiment flow over time and language usage patterns between companies with a good reputation and firms with a poor reputation. In addition, this study explored the relations between reputation and marketing communication strategies.

Crypto developer Jay Graber was tapped by Twitter to helm the initiative, which the company hopes will eventually create a decentralized social media protocol that a number of social networks including Twitter will operate on. The separate bluesky organization will operate independently but to date has been funded and managed largely by employees at Twitter. Graber had already been working in a less formal role inside the bluesky team, with Twitter paying her to create a technical review of the decentralized social ecosystem for a working group of developers in the space. Graber previously worked on the developer team behind privacy focused cryptocurrency Zcash and built out her own decentralized social network called Happening , designed to compete with Facebook Events. Graber eventually walked away from the effort after having issues bootstrapping a user base interested in the benefits of decentralization, something that has grown to be a near-insurmountable issue for most upstart networks in the space. In an interview back in January, Graber told TechCrunch she saw a major opportunity in Twitter entering the decentralized social space due to the hefty user base on the Twitter platform, which will itself eventually migrate to the protocol, the company has said. A decentralized social media protocol would allow for individual networks to govern themselves without one company or organization exercising monolithic control over the sphere of online conversations.

Twitter has nevertheless specified that this new option will eventually be available to all users of the social network. Credits: AFP. NFTs are everywhere!