Cryptocurrency News

5 hottest cryptos on twitter this month

In the field of digital assets, crypto Twitter is a dominant force of power. Memecoins and serious large-cap assets alike may see their value rise or fall, depending on whether the cynical Twitter crowd decides to pay attention.

Large rallies and dramatic falls often trigger waves of fear, uncertainty and doubt (FUD) or fear of missing out (FOMO) on the platform, capable of widening the unfolding price dynamics.

Granted, it would be convenient if Twitter’s volume increase always spelled price increase – yet, as the facts demonstrate, the relationship is much more complicated than that.

Tweet Quantity is one of the ingredients in a proprietary formula that powers it Vortex ™ score, A machine learning algorithm that compares historical and current market conditions around digital assets to aid the decision-making of crypto traders. The model considers a host of other indicators – market outlook, price movement, social sentiment, trading activity – to arrive at a score that assesses whether the current position is historically sharp, neutral, or that of a given coin. There is a recession.

This week, we follow five digital assets that have made the biggest strides this month in terms of Twitter activity. All five added hundreds of percent of tweets compared to last month’s average – but how actionable were these dynamics for traders?

Here’s how the VORTECS ™ score can give investors some clues.

Telcoin (TEL): +300% Twitter Volume

Between 2 and 5 May, as Telcoin (TEL) prepared for a major price jump that would take it from $ 0.01 down to $ 0.05 within ten days, two significant spikes occurred in tweets tagging TEL. While the coin typically receives several hundred mentions a day, each of these two peaks has more than 3,000 mentions.

This pattern, along with other factors, was historically favored by the VORTECS™ model, which produced a very high score of 91 (red circle in graph). There was a tremendous price run less than a day later. More tweet volume spikes this month followed a price increase than before.

Overall, in the last 30 days, Telcoin delivered 189% vs. USD and 345% vs. Bitcoin.

Polygon (MATIC): + 240% Twitter Volume

Twitter activity around MATIC and its price behavior entered a good range in May, increasing the chatter at each stage of the price rally, which, in turn, preceded another round of token appreciation.

Of course, there was more to Polygon’s remarkable month, including several positive real world development And trading activity increases, but tweet volume appears to be an essential feature of each VORTECS ™ score peak (red circle in the chart).

MATIC Monthly Gains: 125% vs USD and 248% vs BTC.

iExec (RLC): +711% Twitter Volume

iExec (RLC) emerged as the biggest winner in terms of additional tweet volume this month, yet its price increase has been more modest: 60% against USD and 148% against Bitcoin.

In the case of RLC, as the chart shows, the spikes in tweet volume were largely reactive and only followed price action. The coin’s VORTECS™ score has remained largely neutral prior to the rally that began around May 9, indicating a combination of market conditions not seen frequently before.

Solana (SOL): +525% Twitter Volume

Solana (SOL) saw a more than four-fold increase in its average tweet volume compared to the previous month, yet almost all related price gains were erased by the end of May: -31.48% against USD and +6.06% against Bitcoin.

With one notable exception, tweet volume has largely lagged behind the price movement: a massive jump from 5,000 to 20,000 tweets on May 17th which contributed to an 80+ VORTECS™ score and the coin reached its all-time high near $58. Arrived about 36 hours before. (Red circles in both charts).

Ethereum Classic (ETC): + 321% Twitter Volume

While the reasons for Ethereum Classic’s sudden surge from $40 to $160 in the first week of May remain a mystery, we can be fairly certain that the explosion in Twitter conversation volume wasn’t one of them: all added tweets. In response came a price rally.

The VORTECS™ algorithm did not realize a historically favorable outlook, either, as the scores remained mostly in neutral territory.

ETC ended the month with +67.36% versus USD +158.85% versus Bitcoin.

An increase in Twitter activity around the digital asset could mean a variety of things, depending on the configuration of other important market and social indicators. VORTECS™ Score, available exclusively for Coin Telegraph Market Pro Members can make tweet volumes relevant within a set of other market-moving metrics.

For those who prefer to take advantage of raw data, absolute number of tweets and current versus average tweet volume are readily available as separate metrics on the market intelligence platform.

Cointegraphy Markets Pro is Available exclusively to members $ 99 per month on a monthly basis, or annually with two free months. It maintains a 14-day money-back policy to ensure it is well suited to crypto trading and investment research needs of clients, and members can cancel at any time.

Cointegraf is the publisher of financial information, not an investment advisor. We do not provide personal or personal investment advice. Cryptocurrencies are volatile investments and carry significant risks, including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-testing strategies are not recommendations. Consult your financial advisor before making financial decisions. Full terms and conditions.

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Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.