Special attention provided to an altcoin can often result in quite a dramatic price action- especially if it is done on Crypto Twitter. This makes it quite a natural phenomenon that rallying assets would definitely attract the attention of traders who would then keep a close eye on conversations over Twitter.
This, in turn, would result in the creation of positive feedback loops which would increase the momentum further. And interestingly, this is what happened to some of the coins which went on to see a far greater increase in the volume of daily tweets this month.
Several altcoin tokens like KuCoin shares went up from a sum of $7.40 on the 4th of July to a sum of $14.20 on the 14th of July. This does suggest quite a staggering increase in the average volume of cryptocurrency tweets- which does total almost 1000% per month.
Other cryptocurrency tokens have also been affected positively by the event. Axie Infinity went on to add more than 456% in tweet volume over quite the same amount of time. In both the above-mentioned cases, the daily tweets did mirror the dynamics of the price rallies- which closely followed the given price chart.
Data Intelligence For Early Altcoin Tokens
Tweet volume has generally been one of the many metrics that has been used to calculate the VORTECS score for altcoin tokens- which in itself is an algorithmic indicator comparing the complicated market patterns.
This feature is exclusively available to the subscribers of CoinTelegraph Markets Pro, where the algorithm to measure altcoin tokens is quite useful in assessing the various parameters that govern a cryptocurrency- like market outlook, social sentiment, price movement, and the like. It further allows us to generate a score that would definitely show us the suitability behind the market conditions.
